Goyal discusses trading, FTA prospects with Sweden in print to deepen economic ties | Today news

New Delhi: Trade Minister Piyush Goyal on Thursday conducted wide discussions with senior Swedish government officials and operational leaders in Stockholm, as part of a broader attempt to strengthen India’s economic partnership with Europe. The discussions focused on expanding bilateral trade, promoting investment flow and the investigation into cooperation in emerging sectors such as clean technology and innovation, the Ministry of Trade said in a statement. Goyal, who is on a five-day tour by Switzerland and Sweden, was co-chair of the 21st session of the India-Sweden Joint Commission on Economic, Industrial and Scientific Cooperation, where both parties confirmed their commitment to deepen strategic ties. According to the ministry, Goyal’s meetings in the Swedish capital leading Swedish institutions, such as Leadit, Vinnova, the Swedish Energy Agency, the National Space Agency, the National Board of Trade, The Export Credit Agency, Business Sweden and the Swedish Chamber of Trade in India. A dedicated round table has also explored ways to strengthen the economic course of India – Sweden, the ministry said. The key areas of discussions included innovation, green transition, advanced technologies and the construction of resilient supply chains, it added. EFTA -Trade Deal Goyal wrapped the Swiss leg of his tour. Last March, India and the Four Nation EFTA existing from Iceland, Liechtenstein, Norway and Switzerland, signed free trade transaction to integrate and strengthen supply chains, attract investments and generate new business opportunities. The EFTA also made a binding commitment to investing $ 100 billion in India and creating one million direct jobs in the next 15 years. Meanwhile, India and the European Union have also made the efforts to obtain a long -term free trade agreement, with the aim of bringing about closer economic ties as global supply chains shift. Negotiations, which were revived after almost a decade in 2022, have increased urgently with both parties seeking reliable trading partners. For India, the EU offers a major export market and investment in clean technology. For the EU, India is a growing economy and strategic hedging against China. Important obstacles still remain as rates, intellectual property and sustainability standards-but officials are optimistic about a breakthrough by 2025. The Swedish investors during his visit to Sweden also called on Swedish companies to expand their footprint in India, with the investment-friendly regulations, a growing consumer market and a strong industrial base. Goyal participated in the India-Sweden High-Level Trade and Investment Policy Forum at the Confederation of Swedish Enterprise. He also held one-on-one meetings with Swedish firms from sectors such as automation, renewable energy, sustainable food systems, maritime technology and advanced materials. Conversations centered on the relief of soil access, building skills in the skill and facilitating rapid traces.