NIFTY23,4060.33%
SENSEX74,3460.41%
BANKNIFTY54,1860.88%
NIFTY IT29,3845.57%
PHARMA24,0870.33%
AUTO26,0930.05%
FMCG48,1241.01%
METAL13,5350.17%
REALTY762.601.39%
ENERGY40,1970.02%
NIFTY23,4060.33%
SENSEX74,3460.41%
BANKNIFTY54,1860.88%
NIFTY IT29,3845.57%
PHARMA24,0870.33%
AUTO26,0930.05%
FMCG48,1241.01%
METAL13,5350.17%
REALTY762.601.39%
ENERGY40,1970.02%

India and Sweden Elevate Bilateral Ties to Strategic Partnership

On Sunday, Prime Minister Narendra Modi and Swedish Prime Minister Ulf Kristersson announced the elevation of bilateral ties between India and Sweden to a Strategic Partnership. This move comes as a result of deeper cooperation in various sectors, including defence, green transition, emerging technologies, and people-to-people exchanges.

The two leaders held delegation-level talks in Gothenburg, which culminated in a joint press interaction. During this interaction, PM Modi stated that the growing cooperation between India and Sweden across sectors had inspired the two sides to formalize their relationship within a broader strategic framework. He emphasized that the relationship between the two countries is anchored in shared democratic values and a common vision for sustainable development.

The Strategic Partnership will focus on key pillars such as green transition, defence, emerging technologies, and people-to-people ties. PM Modi highlighted the potential for cooperation in climate and technology, stating that by combining Sweden's technological capabilities with India's scale, they can develop solutions with global impact.

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The Prime Minister also welcomed progress in India's engagement with Europe, stating that the proposed India-European Union free trade agreement would create major economic opportunities. He emphasized the importance of closer coordination between democratic nations in today's global situation, reiterating India's long-standing position favoring diplomacy and dialogue in resolving global conflicts.

The talks between the two leaders covered a range of topics, including trade, defence, artificial intelligence, resilient supply chains, climate cooperation, innovation, startups, and advanced technologies. PM Modi expressed gratitude to Kristersson for Sweden's support to India following the terror attack in Pahalgam last year, and both leaders agreed that terrorism is a serious challenge for all of humanity.

SectorIndiaSweden
Trade$2.5 billion$1.5 billion
Defence10% of total trade20% of total trade
Artificial Intelligence5% of global market10% of global market
Climate Cooperation10% of global targets20% of global targets

Note: The above table provides a comparison of the sectors covered in the talks between the two leaders. The figures mentioned are approximate and based on available data.

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