Swedish Companies Committing A Fresh 1.1 Billion Dollars Investment In India

Swedish Companies Committing A Fresh 1.1 Billion Dollars Investment In India

Companies in Sweden, the largest Nordic economy in Europe is committing a fresh 1.1 billion dollars investment in India led by some of its major companies Volvo, IKEA, AstraZaneca amongst others.

Having committed $1.5 billion in the past three years, the additional investment that is lined up will be for the next two years. Sweden is investing in India more than it did in the “last few decades” said Carsten Gronblad, the Trade commissioner to India.

Gronblad was speaking on the sidelines of CEO Meet with Prime Minister Narendra Modi on a day when India and Sweden signed joint declaration in innovation partnership for sustainable future.

The Volvo Group alone has committed $250 million over the next three years in capacity expansion and new products, while the Pharma major AstraZaneca said it will invest $90 million over the next five years. Read More

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