**Executive Summary**
On May 17, 2026, the Prime Minister of India delivered a press statement at the European Round Table for Industry in Gothenburg, Sweden, announcing the elevation of India-Sweden relations to a Strategic Partnership. The statement outlines a roadmap for collaboration in high-tech sectors, defense, and green transition, highlighting the launch of the India-Sweden Science and Technology Centre and the third phase of the LeadIT initiative. Key focus areas include the finalization of the India-EU Free Trade Agreement (FTA) and the strengthening of the Sweden-India Technology and AI Corridor.
**Key Points / Main Content**
**Strategic Partnership and Diplomatic Ties**
* The bilateral relationship has been elevated to a Strategic Partnership, focusing on green transition, defense, emerging technologies, and people-to-people connections.
* The partnership is rooted in shared democratic values, the rule of law, and human-centric development.
* Sweden conferred its highest honor, the Royal Order of the Polar Star, upon the Indian Prime Minister.
**Technology and Innovation**
* Establishment of the "India-Sweden Science and Technology Centre" to link startup and research ecosystems.
* Strengthening of the "Sweden-India Technology and AI Corridor" to drive cooperation in AI, health-tech, and green mobility.
* Collaborative focus on semiconductors, digital technology, and resilient supply chains through the India-EU Trade and Technology Council.
**Climate Change and Sustainability**
* Commitment to the third phase of the Leadership Group for Industry Transition (LeadIT) for low-carbon industrial transformation.
* Joint efforts in green hydrogen, circular economy, and sustainable infrastructure.
* Ongoing cooperation in the Arctic region to enhance the global understanding of climate change.
**Defense and Security**
* Shift from a buyer-seller dynamic to long-term industrial collaboration, including Swedish companies setting up manufacturing facilities in India.
* Shared commitment to combating terrorism and utilizing dialogue and diplomacy to resolve global tensions.
**Economic Integration**
* Progress on the India-EU Free Trade Agreement (FTA), aimed at creating new opportunities for industries, investors, and innovators.
* Implementation of the Mobility Agreement to strengthen people-centric partnerships.
**Impact Analysis**
**Swedish Industry and Investors**
**Impact**
They gain expanded access to the Indian market through the proposed FTA and the transition toward long-term industrial manufacturing collaborations within India.
**Action Required**
Leverage the "Sweden–India Technology and AI Corridor" and explore the establishment of manufacturing hubs in India.
**Research Institutions and Startups**
**Impact**
These entities will benefit from enhanced bilateral connectivity and shared resources for innovation.
**Action Required**
Engage with the newly established India-Sweden Science and Technology Centre to facilitate joint research and development.
**Government Agencies (India and Sweden)**
**Impact**
Departments responsible for environment, defense, and trade must now manage the transition into the third phase of LeadIT and the new Strategic Partnership frameworks.
**Action Required**
Coordinate on concrete initiatives to implement the Science and Technology Centre and finalize the India-EU FTA negotiations.
Key Entities Referenced
India-Sweden Strategic Partnership: A formal elevation of bilateral relations to deepen cooperation in green transition, defence, emerging technologies, and people-to-people connections.
Leadership Group for Industry Transition (LeadIT): A joint global initiative between India and Sweden focused on low-carbon industrial transformation, currently moving into its third phase.
Sweden-India Technology and AI Corridor: A bilateral initiative aimed at strengthening cooperation in high-tech sectors such as AI, health-tech, and green mobility.
India-EU Free Trade Agreement (FTA): A proposed economic agreement intended to create new opportunities for industries, investors, and innovators between India and the European Union.
India-EU Trade and Technology Council: A strategic body facilitating cooperation between India and the EU in digital technology, clean energy, semiconductors, and resilient supply chains.
Prime Minister's Office
English translation of Prime Minister’s Press
Statement at the European Round Table for
Industry
Posted On: 17 MAY 2026 11:43PM by PIB Delhi
Your Excellency, Prime Minister Kristersson,
Your Excellency, Ursula,
Delegates from both countries,
Friends from the media,
Namaskaar!
First of all, I sincerely thank Prime Minister Kristersson for his warm welcome.
A short while ago, I was conferred with Sweden’s highest honour, the Royal Order of the Polar Star. This
honour is not just mine; it is an honour for 1.4 billion Indians. It is also a tribute to all our friends in
Sweden who have enriched India - Sweden relations and provided them with a strong foundation.
I express special gratitude to Ursula ji for joining today’s programme which gives special significance to
my visit to Gothenburg, the industrial heartland of Sweden and Europe.
Friends,
The relationship between India and Sweden is built on strong foundations of democratic values, the rule of
law, and human-centric development. Both our countries see innovation as a driver of growth,
sustainability as a shared responsibility, and democracy as our strength.
In today’s meeting, we discussed taking our cooperation forward based on these shared values and
common interests. As our partnership is growing across all sectors, we decided to raise our relationship to
the level of a Strategic Partnership. Under this partnership, we will move ahead in key areas such as green
transition, defence, emerging technologies, and people-to-people connections.
Friends,
There is tremendous potential for cooperation between us in high-tech sectors such as AI, health-tech, and
green mobility. A large business delegation from Sweden participated in the AI Impact Summit held in
India this year. We will work on concrete initiatives to strengthen the "Sweden–India Technology and AI
Corridor.”
To strengthen connections between the startups and research ecosystems of both countries, we are going toestablish the India - Sweden Science and Technology Centre.
There is also strong convergence between India and Sweden in our thinking on climate change and
sustainability. The Leadership Group for Industry Transition, or LeadIT, is our joint global initiative under
which we are focusing on low-carbon industrial transformation. Today, we decided to work on its third
phase.
India is doing major work in areas like green hydrogen, the circular economy, and sustainable
infrastructure. By bringing together Sweden’s technology and India’s scale, we can create climate
solutions that benefit the whole world. India and Sweden’s cooperation in the Arctic region is also playing
an important role in improving global understanding of climate change.
Friends,
Our cooperation in the defence sector is steadily growing. The setting up of manufacturing facilities in
India by Swedish companies shows that our partnership is moving beyond a buyer-seller relationship and
becoming a long-term industrial collaboration.
Friends,
Ursulaji’s presence today makes this occasion even more special. During her visit to India earlier this year
in January, we took several historic decisions to strengthen India-EU relations further. I am happy to see
that good progress is being made on all those outcomes.
The India-EU FTA will create new opportunities for industries, investors, and innovators. As Ursulaji said,
this is the "Mother of all deals.”
The Security and Defence Partnership and the Mobility Agreement have given new strength to our
strategic and people-centric partnership. The India-EU Trade and Technology Council has further
deepened our cooperation. We are working together in areas such as digital technology, clean energy,
semiconductors, resilient supply chains, and innovation.
Political, economic, and strategic convergence between India and Europe is important for peace and
stability across the world.
Friends,
In today’s tense global environment, close cooperation between democracies like India and Sweden holds
special significance. We have always emphasized dialogue and diplomacy as the means to resolve various
tensions and challenges.
India and Sweden agree that terrorism is a grave challenge for all humanity. I express my gratitude to
Prime Minister Kristersson for the support we received from Sweden after the terrorist attack in Pahalgam
last year. We will continue our fight against terrorism and those who support it.
Excellencies,
Once again, I thank you for today’s meaningful discussions. I am fully confident that through our shared
efforts, India-Sweden and India-Europe partnerships will continue to move forward, and together we willkeep contributing to global peace, security, and prosperity.
Thank you very much.
DISCLAIMER: This is the approximate translation of Prime Minister's address. Original address
was delivered in Hindi.
***
MJPS/SS/VJ
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