India and Sweden Aim to Double Bilateral Trade by 2030

The Government of India and the Government of Sweden are working to double bilateral trade and investment by 2030 under an upgraded strategic partnership. This framework, established following Prime Minister Narendra Modi's visit to Sweden in May 2026, focuses on security, economic cooperation, people-to-people ties, and emerging technologies. A key initiative is the proposed Sweden-India Technology and Artificial Intelligence Corridor, which targets collaboration in 6G, AI, and digital infrastructure.

To advance these goals, over 350 government and business leaders gathered in Stockholm on October 15, 2026, for the 13th India-Sweden Innovation Day. Organized by India Unlimited, the event promoted the "Make in India, Make with Sweden" model and focused on industrial decarbonization and quantum technology. Discussions highlighted the potential of the India-European Union Free Trade Agreement, which the Confederation of Swedish Enterprise estimates could increase India-EU trade by up to US$133.9 billion by 2035.

Indian Ambassador Anurag Bhushan noted that approximately 300 Swedish companies now operate in India, while Swedish officials expressed a goal to double that number. The two nations have adopted a five-year action plan and intend to hold a bilateral summit in India in 2027 to align their long-term vision through 2047.