India-Sweden Economic Partnership Where we are & the way ahead January 29, 2013 Klarabergsviadukten 70, WTC, Stockholm
Economic interests have emerged as the driver of the relationship in the recent years with the bilateral trade of over US$ 2.8 billion.
In 2011-2012, India's exports stood at USD 825 million, Increase of 31% since the year before
Sweden's exports stood at USD 1992 million Increase of 23% since the year before
Values in US $ Millions
Country: SWEDEN S.No. \Year 1 EXPORT 2 %Growth 3
India's Total Export
4
%Growth %Share
5 6 7 8 9 10 11 12 13 14
IMPORT %Growth India's Total Import %Growth %Share TOTAL TRADE %Growth India's Total Trade
15 16
%Growth %Share TRADE BALANCE
17
India's Trade Balance
2007-2008 544.19
566.69 4.13
2009-2010 476.63 -15.89
2010-2011 627.73 31.7
185,295.36
178,751.43
251,136.19
305,963.92
13.59
-3.53
40.49
21.83
0.33
0.31
0.27
0.25
0.27
2,128.11
1,952.50 -8.25
1,590.14 -18.56
1,619.38 1.84
1,992.20 23.02
251,654.01
303,696.31
288,372.88
369,769.13
489,319.49
20.68
-5.05
28.23
32.33
0.85
0.64
0.55
0.44
0.41
2,672.31
2,519.18 -5.73
2,066.76 -17.96
2,247.11 8.73
2,817.21 25.37
414,786.19
488,991.67
467,124.31
620,905.32
795,283.41
17.89
-4.47
32.92
28.08
0.64
0.52
0.44
0.36
0.35
-88,521.83
-118,400.95
-109,621.45
-118,632.94
-183,355.57
163,132.18
2008-2009
Note: The country's total imports (S.No.6) since 2000-2001 does not include import of Petroleum Products (27100093) and Crude Oil (27090000)
2011-2012 825 31.43
Source: DGFT, India
Sweden has attracted a number of Indian global industrial leaders like Aditya Birla Group, Bharat Forge, Tata Group and Wipro. Indian pharma and biotech companies like Dr. Reddys, Biocon, Kemwell and Ranbaxy have formed collaborative relations in Sweden. The arrival and rapid expansion of Indian companies in Sweden in the last five years has coincided with Sweden’s growing reputation as one of the most open and successful economies in Europe. More than 75 Indian companies currently operate in Sweden.
They employ 1700 people across activities ranging from R&D to manufacturing and distribution. India’s corporate presence in Sweden is expected to increase in the next few years due to the growing international competitiveness of Indian firms and the potential for business alliances with innovative Swedish partners.
Engineering sector dominates Swedish presence in India
Sweden has a long history of trade and investments in India, in particular within manufacturing and telecom. A number of Swedish multinational companies are investing and have manufacturing plants in India. ABB, Volvo Trucks, Astra Zeneca, Ericsson, Atlas Copco, Sandvik, SKF and Scania just to name a few, have strong presence. In recent years, several of these companies have also established significant R&D operations in India.