Swedish contingent meets K'taka CM, Indian cos CEOs to boost investment

The Swedish delegation led by Ambassador Klas Molin, the new Trade Commissioner Cecilia Oskarsson along with new counsellors for science, innovation and trade, among others, met Bommai. They attended an investment facilitation seminar with Karnataka Industries Minister and senior state government officials, as also the 'Invest in Karnataka' programme. 

On Monday, the delegation along with the heads of several Swedish companies attended an investment facilitation seminar with the Karnataka Industries department where company leaders operating in the state highlighted their presence, and discussed investment and future plans that will help them realise their full potential in the state.

Bommai said both Sweden and India are time-tested allies and the bilateral ties need to be further strengthened.

The Karnataka government has prioritised sustainable growth and investments and is willing to collaborate with Sweden on new technologies. Research and development (R&D) will be prioritised in the future and incentives for industries to invest in R&D will be introduced. The Chief Minister indicated that employment, investment and innovation are the three guiding principles for boosting partnership between India and Sweden.

At present, there are more than 200 Swedish companies in India employing two lakh people. As many as 96 Swedish companies have employed more than 42,000 people in Karnataka alone. Forty companies have their head office in Karnataka and 14 companies are manufacturing in the state.

Swedish Ambassador Klas Molin said, "I'm inspired by the very constructive and forward-looking dialogue with Chief Minister Bommai. From Swedish brand names such as ABB and Volvo to H&M and IKEA -- and now Truecaller and several start-ups, Swedish companies continue to thrive in Karnataka. Helping support their communities during the challenges posed by the Covid-19 pandemic, they continue to invest, expand and believe in India."

The delegation met Wipro Chairman Rishad Premji and visited 'PlaySimple', which was recently acquired by Swedish gaming giant 'Modern Times Group'.

It also visited IIM Bangalore, CampX by Volvo, ArtPark and ISRO.