New Delhi: The historic free trade agreement (FTA) between India and the European Union, hailed as the ‘mother of all trades’, is being seen as a beacon of hope amid the changing global order. European countries are eager to expand their trade ties with India. In an exclusive interview, Sweden’s Ambassador to India, Jenny Thesleff, highlighted the immense talent pool in India and praised the creativity and innovation of its youth.
Speaking about the India-EU agreement, Ambassador Thesleff said, “This is a historic deal that truly reflects the mutual trust between India and the European Union. For Sweden, which already has a strong presence in India, this agreement will open new doors for those who are not yet here. It reduces all barriers for doing business with India and for India to engage with Europe. We see many new opportunities, especially for small and medium-sized enterprises (SMEs), which are key drivers of employment. There is a lot of creativity and innovation here.”
Regarding the benefits of the FTA for Swedish SMEs and Indian MSMEs, she added, “The very act of finalising this agreement signals trust between us. We witnessed this trust among Indian Prime Minister, President, and senior officials of the EU and European Commission. This is an important message not only for large businesses but also for small and medium-sized companies.”
Ambassador Thesleff noted that there are already 400 Swedish companies operating in India, making up 7 percent of all EU companies here. “This should signal to those not yet present that India is a market worth focusing on, investing in, manufacturing for, and developing new products.”
She emphasised that the agreement is not just for economic giants or SMEs but also offers opportunities for scientific and technological collaboration. “It is an invitation to create centres of excellence and partnerships in India, with India, and in Europe with India. Sweden has a significant engagement in all the sectors covered by this agreement.”
The ambassador mentioned well-known Swedish companies in sectors like automotive, IT, and pharmaceuticals, all of which will benefit from the deal. “This is a two-way street. Indian companies are also investing in Sweden. Currently, 75 to 80 Indian companies have invested in Sweden, with some making significant investments. Recently, there was an investment in Gothenburg. This cooperation is about creating jobs and value on both sides.”
Addressing opportunities for Indians in Sweden, she said, “Investments in Sweden or India create jobs. I often speak about intellectual remittances—when talented Indians go to Sweden, they engage with our innovative ecosystem, and Swedish people coming here bring back skills and knowledge that benefit their families, India, and technological development.”
She further stated, “This agreement signals new opportunities and job prospects for skilled Indians and Europeans alike. Today, Indians form the largest group of foreigners moving to Sweden. By 2030, we expect 1 percent of Sweden’s population to be Indian. Though geographically distant, India and Sweden are growing closer every day.”
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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