New Delhi, November 1 (IANS): The 8th Annual India-Sweden Innovation Day 2021 has successfully ended. The one-day virtual event was organized in association with the Embassy of India in Sweden and Latvia, the Sweden-India Business Council (SIBC) and the Confederation of Indian Industry (CII). The seminar was a huge success as it brought together over 1,300 participants from all over the world.

The highlight of the event was the implementation of the partnership between Vinnova, the Swedish Innovation Agency, the Indian Department of Science and Technology as well as the Department of Biotechnology.

Stakeholders from both countries agreed to invite the call for proposals which covers important areas of the circular economy, such as health, social issues and societal challenges, which are crucial areas to create a circular economy. . The seminar also launched a new call to action where central actors came together for Indo-Swedish cooperation. This joint call targeted Swedish and Indian actors to carry out joint research and innovation projects. By joining hands, the players came to support research and innovation projects across the entire value chain.

Keynote speakers at the inauguration included Tanmaya Lal, Ambassador of India to Sweden, Ms Darja Isaksson, CEO of Vinnova, Dr Jitendra Singh, Indian Minister of Science and Technology, Ibrahim Baylan, Swedish Minister of business and innovation, and Klas Molin, Swedish Ambassador to India. Other prominent speakers at the event mentioned the upcoming Indo-Swedish Call for Proposals within the Circular Economy, a funding opportunity supporting the transformation of a sustainable future.

The participating agencies on the Swedish side were Formas (the Swedish Research Council for Sustainable Development), Forte (the Swedish Research Council for Health, Work and Welfare), the Swedish Research Council, Swedish Energy Agency and Vinnova (Swedish Innovation Agency). . On the Indian side, the participating departments were the Department of Science and Technology and the Department of Biotechnology.

Emphasizing the importance of the circular economy, Ms. Darja Isaksson, Managing Director of Vinnova, said: “Our next Indo-Swedish call, which is expected to open early next year, will focus on the economy. circular. The circular economy is essential for a sustainable society. Reuse, recycling and remanufacturing are necessary for long term use of materials and other resources. This reduces waste and limits the excessive extraction of natural resources. The transformation towards the circular economy is a global challenge because the value chains are global. A shift from linear to circular economy also means shifting from value chains to value cycles. A complex process for the company, which requires changes in almost all sectors. Applications contributing to sustainable development and projects where the efforts of partners complement each other to achieve a common goal will be promoted in the evaluation process. “

Countries have also agreed to fund joint innovation projects in AI, healthcare, clean technology, smart cities and safe mobility. Several sustainable future projects will receive funding in the coming weeks.

Commenting on the strengthening of ties between the two nations, Tanmaya Lal, Ambassador of India to Sweden and Latvia said: “Accelerating an inclusive green transition is key to our collective sustainable future. Collaborations for innovative solutions for clean technologies, smart grids and the circular economy. are at the heart of the India-Sweden partnership. “

The one-day virtual event also recognized the importance of various aspects of climate change and the two countries took concrete steps to accelerate the green transition process by implementing the use of advanced digital technology and artificial intelligence. In addition, the two countries spoke at length and offered climate-friendly solutions using the power of technology. The summit also focused on building strong economic growth and tackling the aftermath of the pandemic.

Martin Lundstedt, Volvo Group CEO, said: “We need to find a sustainable roadmap that is environmentally, socially, ethically and financially viable. also play a crucial role in the successful implementation of the plan. We know that there is a strong link between these elements of a developing society with its GDP, per capita, and its economic growth. However, our aim is to come up with sustainable solutions to the development challenges, including increased transport and logistics infrastructure. But the good news is the common agenda and goal shared by India and Sweden as both countries strive to stimulate sustainable innovations.

“Volvo is one proud partner among others in accelerating the green transition, by bringing clean energy technological solutions to the world. Now is the time because we have the resources, the opportunities and the innovation power to do so. Volvo puts it all together with the greatest view of R&D, IT, quality and the entire supply chain. So in this area we are already doing a lot with India and we are looking forward to more.

Commenting on making climate ambition a reality, Amit Chadha, MD, L&T Technology Services said, “We like a level playing field between citizens, government and corporate 26. To make climate ambition a reality, we need concrete government policies to create common guidelines. , the citizens being more responsible towards the environment.

“On the industry side, we work tirelessly to make the United Nations Sustainable Development Goals a reality. responsible consumption and climate action.

“At LTTS, we have invested in battery charging infrastructure and technology labs in India and Illinois for onboard and outboard charging capabilities that allow people to prove their concepts. We launched our own hybrid vehicle bringing together all battery and cooling technologies. . We have also built sensor labs offering alternatives to reduce energy consumption. We have launched energy management tools for factories as well as commercial buildings and are working on models of sustainable cities. “

CII President TV Narendran said: “The climate finance journey will be costly. Government, industry and customers will have to pay to make the transition go smoothly. The heart of the Indo-Swedish partnership lies in innovation. and technology and the good news is that there are steps towards innovation. We are now focusing on the ecosystem that can fund it. There is a lot of capital in the world in the form of start-ups in Sweden.

“India is now home to the third largest number of unicorns in the world after China and the United States, our task now is to take advantage of this innovation to solve these problems in order to increase finances. There are certain areas. where we need to work in terms of storage solutions for renewable energy. We need a smooth transition from coal grid storage to a renewable backbone grid and therefore we need a lot of ‘money to ensure a sustainable storage system. We also need to build on and develop green hydrogen infrastructure as well. Fortunately, we have some good ideas for start-ups going on and hope that will make the transition as well fluid as possible. “

Ludwig Lindstorm, Business Developer in Sweden, Swedish Energy Agency, said: “The main task ahead includes policy development and implementation, advisory services, statistics, financial support and research. We support many start-ups. Thanks to clean climate innovations, we were able to significantly reduce Swedish greenhouse gas emissions.

“Today Sweden accounts for a tenth of greenhouse gas emissions. This has boosted our confidence, and we are now planning to introduce a similar action plan in markets like India. Sweden mainly focuses on introducing such sustainable strategies in India through business collaborations and exchanges between government agencies.

Robin Sukhia, Chairman and Secretary General of the Sweden-India Business Council, added: “This 8th edition of India-Sweden Innovation Day was truly a remarkable event where the two nations came together to accelerate the green transition. It strengthens and strengthens trust between the two countries.

India Sweden Business Leaders’ Roundtable (ISBLRT) is a global joint steering group supporting innovations and collaborations between India and Sweden. This year, the summit provided an opportunity to discuss the international situation and the response to the Covid-19 pandemic as well as regional and global issues of mutual importance, including climate action, sustainable development, l gender equality and economic growth.