Former Swedish Prime Minister Carl Bildt has underlined that India’s rising global clout is driving stronger ties with Europe, with Swedish industry actively preparing to expand into India following the conclusion of the India-European Free Trade Agreement.

Speaking in Rome, Bildt emphasised that India’s rapid economic growth and its emergence as a global manufacturing hub have made it indispensable for companies seeking a major role in the world economy.

He noted that the increasing frequency of high-level engagements, including visits by Prime Minister Narendra Modi and business leaders, reflects the strength of the relationship and signals an even stronger future. Swedish industry, he said, is already planning to establish itself in India in the wake of the FTA.

Bildt highlighted that India’s importance is rising primarily because of its impressive domestic growth. 

He observed that within the next fifteen years, India’s economy could reach the same size as Europe’s, making it essential for global players to be present in India both for its vast domestic market and its role as a manufacturing base for global markets.

He stressed that India’s trajectory is reshaping the global economic landscape, compelling European industries to deepen their engagement with the country.

Turning to the ongoing crisis in West Asia, Bildt remarked that the conflict is essentially the result of a collapse of diplomacy. He warned that there is no military solution to the issues at hand, only a diplomatic one, and urged that the sooner this reality is recognised, the better.

He cautioned that prolonged disruption in the Strait of Hormuz could severely impact the global economy, underscoring the urgency of diplomatic efforts. Bildt expressed hope that India would use its growing diplomatic influence to contribute to resolving the crisis, noting that Pakistan and Qatar have so far taken the lead in mediation. He argued that all affected countries should employ whatever diplomatic leverage they possess to restore dialogue and stability.

His comments come at a time when Prime Minister Narendra Modi is preparing for a whirlwind five-nation tour from 15 to 20 May, covering the UAE, Netherlands, Sweden, Norway, and Italy.

The tour is expected to reinforce India’s expanding global engagement and highlight its growing importance in both economic and strategic terms.

For Sweden, the visit is particularly significant, as it coincides with industry plans to expand into India and reflects the strengthening of bilateral and European ties with New Delhi.

ANI