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.

–IANS

mka / khz / bg

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

Dear reader,

Business Standard has always strived to provide up-to-date information and commentary on developments that matter to you and have broader political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these difficult times resulting from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative views and cutting edge commentary on relevant current issues.
However, we have a demand.

As we fight the economic impact of the pandemic, we need your support even more so that we can continue to provide you with more quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve the goals of providing you with even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital editor