Much scope to increase trade, India tells Swedish firms

Gothenburg (Sweden), Oct 27 (IANS) Swedish companies should look at business opportunities in India as there was enormous potential to increase bilateral trade between the two countries, said India’s envoy to Sweden Ashok Sajjanhar.

The Indian ambassador laid out this invitation to Swedish corporates in a keynote address at an investment seminar here Tuesday.

He told the audience of prominent Swedish businessmen that there was a lot of scope for enhancement of bilateral trade, pointing out that India was one the world’s fastest growing economies, while Sweden has one of the healthiest and fast growing economics in Europe.

Bilateral trade with India was currently at a very low level, accounting for just 1.3 percent for Sweden’s exports and 0.6 percent of its imports, he said.

Sajjanhar extolled the advantages of India, from its vibrant private sector, stable financial sector and favourable demography of a young and educated population.

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