Swedish contingent meets K’taka CM, Indian CEOs to boost investment
A Swedish delegation met Karnataka Chief Minister Basavaraj Bommai in Bengaluru and interacted with several large Swedish and Indian companies to promote investment in the state. The foreign delegation was on a two-day visit to Karnataka from September 27 to 28, according to a press note released Wednesday by the Swedish embassy in New Delhi.
The Swedish delegation led by Ambassador Klas Molin, the new Trade Commissioner Cecilia Oskarsson as well as new advisers for science, innovation and trade, among others, met with Bommai. They attended a seminar on investment facilitation with the Minister of Industries of Karnataka and senior state government officials, as well as the “Invest in Karnataka” program.
On Monday, the delegation along with the heads of several Swedish companies attended an investment facilitation seminar with the Karnataka Industries department where the heads of companies operating in the state highlighted their presence and discussed the investments and future plans that will help them realize their full potential in the state.
Bommai said Sweden and India are proven allies and bilateral ties need to be further strengthened.
The government of Karnataka has prioritized growth and sustainable investment and is ready to collaborate with Sweden on new technologies. Research and development (R&D) will be a priority 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 to strengthen the partnership between India and Sweden.
At present, there are over 200 Swedish companies in India which employ two lakhs. No less than 96 Swedish companies have employed more than 42,000 people in Karnataka alone. Forty companies are headquartered in Karnataka and 14 companies manufacture in the state.
Swedish Ambassador Klas Molin said: “I am inspired by the very constructive and forward-looking dialogue with Chief Minister Bommai. From Swedish brands such as ABB and Volvo to H&M and IKEA – and now Truecaller and several Swedish start-ups Businesses continue to thrive in Karnataka. By helping their communities face the challenges posed by the Covid-19 pandemic, they continue to invest, grow and believe in India.
The delegation met Wipro President Rishad Premji and visited ‘PlaySimple’, which was recently acquired by Swedish gaming giant ‘Modern Times Group’.
He also visited IIM Bangalore, CampX by Volvo, ArtPark and ISRO.
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