Tapping Sweden technology to serve Indians, India slates to enhance bilateral key for renewable energy, smart infrastructure, healthcare

Stockholm, October 23: "5150 railway stations are already WiFi enabled in India. In next 6-8 months, 5500 stations will be under WiFi zone and all 6500 stations will be Wi-Fi enabled by next year", claimed Rail Minister Piyush Goyal on Tuesday attending the 19th Session of the Indo-Swedish Joint Commission for Economic, Industrial and Scientific Cooperation in Stockholm.

 

 

"Technology when made in Sweden is costly, but same technology when made in India, it's cost-effective. So, discussions over various aspects are underway on how Sweden and India can use Sweden and Indian innovations to serve Indians and others across the globe", Goyal said addressing the forum on Wednesday.

 

"There is significant potential for enhancing bilateral collaboration in key areas like green technologies, renewable energy, smart infrastructure, healthcare and defence. Trade in services is large and growing, especially in areas of IT, business services, travel and transportation", he added

 

Sweden has a long history of investments in India. As per October 2017 data, there are over 170 Swedish joint ventures and wholly owned subsidiaries in India. Sweden is the 20th largest foreign investor in India with cumulative investment of USD 8.51 billion between January 2003 and January 2017.

 

Over the last decade, Indian investment in Sweden has also increased. There are over 70 Indian companies including IT companies currently present in Sweden. Indian pharma and biotech companies like Dr.Reddys, Biocon, Kemwell and Cadila Pharma have formed collaborative relations in Sweden.