Swedish Prime Minister Ulf Kristersson has described Prime Minister Narendra Modi’s visit to Sweden as another milestone in the history of India-Sweden relations, underlining the shared ambition to significantly deepen economic and strategic cooperation between India and Europe.

Speaking at the European CEO Round Table hosted by Volvo Group in Gothenburg, Kristersson emphasised that the European Union, Sweden and India all recognise the immense potential of stronger partnerships at a time when the global environment remains increasingly complex and unpredictable. 

He noted that both countries share the ambition of doubling bilateral trade and investment within the next five years, adding that with the current pace of cooperation, this target could be achieved even sooner.

Kristersson praised the recently concluded India-European Union Free Trade Agreement, crediting Prime Minister Modi and European Commission President Ursula von der Leyen for their foresight, determination and personal leadership in finalising the landmark deal.

He stressed that the FTA should be seen not as the end of the road but the beginning of a new journey, pointing out that India’s vision for 2047, encapsulated in the Viksit Bharat agenda, would see Sweden and the European Union as partners in India’s transformative journey all the way to its centenary of independence and beyond.

European Commission President Ursula von der Leyen also addressed the CEO Round Table, describing the India-EU summit held earlier this year in New Delhi as a turning point in bilateral ties. 

She highlighted that both sides are committed to signing and operationalising the agreement at record speed by the end of the year, calling it “the mother of all deals.” Von der Leyen welcomed Sweden’s commitment to doubling economic exchanges with India over the next five years and expressed hope that other European nations would follow Sweden’s example in strengthening ties with India.

She explained that while the trade agreement opened the door, an investment agreement would walk both sides through it, laying the foundation for stronger bilateral ties and a new strategic partnership.

Von der Leyen further emphasised that Sweden’s ambition to double economic exchanges with India is exactly the kind of commitment Europe needs, and she urged other member states to emulate Sweden’s proactive approach. She noted that the new strategic partnership between India and Sweden is proof of the opportunities created by the FTA and represents the model for how Europe should engage with India in the coming decades.

Prime Minister Modi is currently in Sweden as part of his five-nation tour, which has already taken him to the UAE and the Netherlands, with Norway and Italy to follow. His engagements in Sweden underscore the growing importance of India’s ties with Northern Europe, particularly in the context of trade, investment, technology and strategic cooperation.

The visit comes at a time when bilateral trade between India and Sweden has already reached $7.75 billion in 2025, with Swedish foreign direct investment standing at $2.825 billion since 2000, figures that underline the strong economic foundation upon which both sides are now seeking to build.

The emphasis on doubling trade and investment within five years reflects the confidence of both governments in the trajectory of their partnership, particularly given the momentum generated by the India-EU FTA.

With Sweden’s advanced industrial base and India’s rapidly expanding market and manufacturing capacity, the synergy between the two economies is expected to accelerate, creating opportunities in sectors ranging from clean energy and digitalisation to defence co-production and advanced manufacturing.

Modi’s presence at the CEO Round Table alongside European leaders signals India’s intent to position itself as a central partner in Europe’s economic and strategic calculus.

ANI