Prime Minister Narendra Modi has invited Swedish and European companies to increase investments in India’s manufacturing and clean energy sectors during his visit to Sweden. Addressing business leaders at the European Round Table for Industry in Gothenburg, Modi highlighted India’s growing focus on green hydrogen, renewable energy, semiconductors, electric mobility, and digital infrastructure.

Speaking at the European Round Table for Industry in Gothenburg, Modi said India is becoming a major global manufacturing and innovation hub. “In the last 12 years, India has been working on the basic mantra of reforms, performance, and transformation. And with the government's political will, this Reform Express is moving forward at full speed,” Modi said at the roundtable discussion.

He told the multinational corporations that India is now among the fast-growing economies of the world and has tremendous potential to invest in. As per Narendra Modi, his country is giving focus on business facilitation, infrastructural growth, technology, and even green energy to build ties at an international level.

In particular, the PM stressed that the cooperation of companies from Sweden in India’s “National Green Hydrogen Mission” was crucial in achieving its goal of establishing India as the world’s manufacturing hub of green hydrogen. The PM indicated that India and Europe working together would play a vital role in moving towards sustainable sources of energy.

He also highlighted the initiatives that India was taking to promote advanced manufacturing capabilities. He invited the business community to make investments in the areas of battery technology, automobiles, artificial intelligence, telecommunications, defence manufacturing, minerals, and semiconductors. As per him, the Indian economy provides an excellent opportunity for foreign firms to grow because of its huge market size and skilled labour force.

During the discussion, the Prime minister reiterated that there is a need for reliable supply chains, particularly now when many nations are seeking to reduce their dependency on limited manufacturing centres. He further noted that India and Europe could collaborate to create dependable industrial ecosystems.

India and Sweden also committed themselves to enhancing cooperation on matters relating to climate change, sustainable technologies, business, innovations, and environmental transitions since both nations intend to expand their strategic relationship going forward.