- National Investment Promotion & Facilitation Agency
- Providing A Red Carpet To Investors Since October 2014
- Addressed More Than 70,000 Investment Queries
- Best Projects in South, East Asia and Oceania region – Annual Investment Meeting Investment awards 2017 & 2016
- Worlds Best Practice Investment Promotion Agency 2016 – UNCTAD
- Target to skill 400 million people by 2022
- USD 2.6 billion – highest ever budget allocated in 2017-18 to boost Skill India Mission
- 36.8% Annual increase in trained manpower in 2015-16
- 2,300 Industrial Training Institutes added from 10,700 in May 2014 to 13,000 in May
- 1.31 Billion population
- Fastest growing large economy - 3rd Largest economy by PPP
- USD 8.6 Trillion GDP (2016)
- US$ 372.7 Billion foreign reserves (May 2017)
- World’s 2nd largest road network
- 3.3 million kilometres
- World’s 2nd largest railways network
- 23 million passengers daily
- World’s 2nd largest number of internet users
- 462 million users
- Young India
- Average Age by 2025 – 29 years
- Consumption set to triple to $4 trillion by 2025 to make India the third-largest consumer market by 2025
- 1st Among 100 countries on the growth, innovation and leadership index; Source: Frost and Sullivan
- 1st Among the World’s most attractive investment destinations; Source Ernst and Young
- 1st Among the world’s fastest growing large economies in 2016 & 2017; Source: IMF and UN
- 1st choice for Tech MNCs to setup R&D centers outside their home countries; Source: Zinnov Management Consulting
- Among the world’s top ten FDI destinations; Source: UNCTAD 2016
- 6th largest manufacturing nation in the world; Source: UNIDO, 2016
- Up 15 places on the Global Innovation Index (2016) ; Source: WIPO
- Up 19 places on the Logistics Performance Index (2014-2016); Source: World Bank
- Up 32 places on the Global Competitiveness Index (2014-16); Source: World Economic Forum
- 62% growth in FDI Equity Inflow since the launch of Make in India (Oct’14 – Mar’17); Source: Department of Industrial Policy and
- USD 161 Billion: India’s highest ever recorded FDI inflow (Apr’ 14 – Mar’17)
- Aim to creating an investor friendly climate, make it easier to do business in India than ever before
- Up 111 places on “Getting Electricity” parameter of World Bank “Doing Business Report” (2014-16)
- Insolvency and Bankruptcy Code enacted – A new legal framework to transform India’s corporate insolvency landscape
- Company registration process streamlined; average time taken for registration reduced to 1 day
- 24X7 custom clearance at 19 sea ports, 17 air cargo complexes
- 36 white industries no longer require environmental clearance
- 7,124 Ease of Doing Business state reforms implemented
- 100% implementation of single window system for payments and approvals in 16 states
- 100% implementation of e-filing tax returns in 13 states
- Automated online building plan approval in 13 states
- 100% implementation of environmental reforms by 15 states
- 100% implementation of inspection reforms by 10 states
- E-filing system for commercial disputes implemented in 11 states
- Specialized commercial courts established at district level in 13 states
- India’s biggest tax reform in a decade, set to create a unified national market
- Goods and Services Tax Bill passed by the parliament to unify and simplify tax framework, into effect since 1st July 2017
- Greater Economic Integration between all states and union territories of India
- Creation of a common national market
- Removal of 17 indirect tax levies, mitigation of cascading effect of Taxes/Double taxation
- Reduced cost of tax compliance through unified tax structure
- Reduced logistics cost and lead time due to reduced tax levies and compliances in inter-state movement
- Lower tax burden for consumers, facilitating consumption-led growth
- Non-intrusive electronic tax compliance system
India is one of the largest producers of pharmaceutical products and a leading player in the global generics market, exporting nearly 50% of its production. In the generics market, India exports 20% of global generics, making it the largest provider of generic medicines globally. Sweden on the other hand is one of the leaders in Pharma R&D.
Thus, Pharmaceuticals is one of the significant industries, where India and Sweden share mutual interests. Further, as a developing country, health care is critical for India to increase the quality of life in the country. Indian pharmaceuticals and biotechnology companies like Dr.Reddys, Biocon, Kemwell, SunPharma and CadilaPharma have formed collaborative relations in Sweden.
In 2009, Sweden and India signed a Memorandum of Understanding (MoU) to facilitate collaboration in health care. In the last few years, several projects have been launched as a result of this MoU, especially in the focus areas of infection control, lifestyle diseases, elderly care, tertiary care and maternal and child care. Additionally, The Swedish Life Science and Healthcare Platform in India was launched with the objective to collaborate in the Healthcare sector and to provide opportunities in areas of research, innovation and best practices adoption.
- Target of $350 billion revenue by 2025 from $143 billion in 2016
- Accounted for 9.3% to the Gross Domestic Product FY 2015-16.
- Accounts for 38% of the total services exports from the country
- Largest private sector employer, employing 3.7 million people directly
- Largest market share in the global services sourcing industry
India’s automotive sector is the fourth largest in the world and with an average production of 24 million vehicles annually and generation of employment for over 29 million people. Successful collaboration in the automotive sector is considered the backbone of Indo-Swedish economic cooperation. The sector has received the maximum share of Swedish investments in India, which constitutes 33% of the total share.
The Volvo Group, one of the world’s biggest multinational manufacturing companies based in Sweden, was the first to establish their manufacturing plant in India. Volvo India Private Limited was established in 1998 at Hoskote near Bangalore, with an investment of USD 70 million and currently has manufacturing setups in Hosakote, Peenya, Bengaluru in Karnataka, and Pithampur in Madhya Pradesh. Similarly, another large Swedish automobile manufacturer, Scania, opened its operations in the country in 2013, with its first plant in Bengaluru, which can produce 2,500 trucks and 1000 buses annually. The company is world’s leading manufacturer of commercial vehicles such as heavy trucks, buses and diesel engines; which are known for their quality and performance.
India presents a range of opportunities for Swedish automotive suppliers. Through existing relations with Swedish OEMs, the Indian business ecosystem aims to give prospective companies a window of opportunity to make their localisation simpler.
India launched the Smart Cities Mission, with the objective to provide sustainable living in cities, which are challenged by rapid urbanization. To realise this vision, major investments are required coupled with smart solutions in the fields of urban mobility, communication & connectivity, waste management, sustainable energy supply etc.
In 2015, during the Indian President Pranab Mukherjee’s visit to Sweden, a Memorandum of Understanding (MoU) in the field of Sustainable Urban Development was inked to promote bilateral cooperation in urban development and sustainable living.
Swedish companies are known for their sustainable approach especially when it comes to urban development. In order to facilitate implementation of such smart city solutions, the Sweden India Smart Cities Platform has been established. The platform explores and matches Swedish smart city solutions with Indian needs.
The Capital Goods sector is a key focus sector to boost manufacturing activity through the provision of critical inputs - machinery and equipment. One of the largest and critical sectors for India, the industry currently stands at USD 43.4 billion, with total domestic production to the tune of USD 35.4 billion recorded in Financial Year (FY) 2014-15. The market share in the sector is dominated by Heavy Electrical, power plant equipment and construction equipmentsub-sector, which constitutes about 69% of aggregate production.
Sweden is a strong manufacturing country. The manufacturing industry has been Sweden’s growth engine in recessions as well as during economic booms and has since long constituted a major part of Sweden’s GDP growth. Some of the world’s leading manufacturing companies started in Sweden and are today global brands, such as Ericsson, ABB, Volvo, Scania, Atlas Copco and SKF. 75% of the R&D investments in Sweden is performed by the manufacturing industry and Swedish is on 4th place globally in terms of R&D investments.
India is an emerging market with great potential and a successful collaboration in this sector will prove to be beneficial.
India currently has the 4th largest installed capacity of wind power. Government of India announced the renewable energy target of installing 175 GW capacity by 2022 and 24x7 Power for All by 2019. India’s share of non fossil-fuel in the total installed capacity is projected to increase from 30%in 2015 to 40% in 2030. While India is moving rapidly towards this target, Sweden is already a leader in the field. 83% of electricity production in Sweden comes from nuclear and hydroelectric power. Cogeneration from combined heat and power (CHP) plants accounts for 10 per cent of the electricity output in Sweden, and these are mainly powered by biofuels. About 7 per cent of the electricity comes from wind power.
The India-Sweden Innovations Accelerator program supports and promotes business relations in India by matching Swedish energy related innovations with Indian demand.. The program has resulted in successful introduction of over 30 companies including Cleanmotion, FOV Biogas, Regin AB, Metrum AB, Fortum etc.
Earlier, in 2005, India and Sweden entered into an agreement in the field of Science and Technology. One of the most critical areas listed under this agreement is ‘Sustainable Environmental Technology’. Later, in 2010, a Memorandum of Understanding (MoU) was signed in the sphere of Renewable Energy to bolster partnership in the areas of Solar Energy, Clean Energy and Hydrogen/Fuel Cells, among others.
The food processing industry is of significant importance for both Sweden as well as India. It has emerged as an important segment of the Indian economy in terms of its contribution to GDP, employment and investment. There is immense focus on developing quality food processing and preservation infrastructure, and several Mega Food Parks and Cold Storage projects are under development for capacity addition.
Sweden is world renowned for quality, ingenuity and technology development in food processing equipment. The Swedish food industry is technologically advanced, and the market for functional foods is growing. Sweden has industry leaders in dairy and beverage processing, coffee roasting, fish and meat processing, and milling and bakery.
Tetra Pak, the world’s leading food processing and packaging solutions, is a fine example of a Swedish major setting up shop in India. They cater to the huge domestic Indian market, as well as export to other South Asian nations. Tetra Pak’s vision is in line with the ‘Make in India’ and ‘Swacch Bharat’ initiatives, with their strong commitment to environment and sustainability to ensure that cartons are collected and recycled.
Investment and collaboration opportunities exist across the food processing value chain in India, such as processing units for marine, meat, dairy and fruits and vegetables, and development of support infrastructure like pack houses and cold chains.
The Indian retail industry has emerged as one of the most dynamic and fast-paced industries driven by entry of several new players. The sector accounts for more than 10% of India’s GDP and around 8 per cent of employment.. India has been ranked No. 1 in the 2017 Global Retail Development Index and will be the 3 rd largest consumer economy by 2025.
The sector has grown mostly on the back of increasing domestic consumption driven by income growth and urbanization. To cater to this increasing demand, many foreign players have entered the Indian retail space.
Hennes & Mauritz (H&M), the Sweden-based fashion retailer, and IKEA, the Swedish furniture retailer are already invested in India. Further, they are in process of increasing their footprint in the Indian market. While the present investment wave is being driven by major players, Swedish small and medium retailers are expected to follow suit.
The Indian Textile Industry is the backbone of the Indian Economy, with its products ranging from the hand-woven sector on one end and the capital intensive mill sector on the other. The sector contributes around 10% to India’s manufacturing production and 2% to its GDP.
Sweden carries out extensive research in areas of textile materials, textile techniques, textile and apparel design; textile handicraft and textile management. In the sphere of textile machinery, Sweden boasts of a range of advanced industrial machinery for knitting and weaving.
Sweden’s unique array of modern and computerized industrial machinery for knitting & weaving fits well in India where in the weaving sector, shuttle-less weaving machinery (rapier or jet) and in the knitting sector (circular knitting and flat knitting) machineries hardly have any presence. Thus there are various areas of collaboration which can be capitalized upon by textile companies from both India and Sweden.
The two most important initiatives in this sector taken up by Sweden are Textile Water Initiative and Climate Smart Production. The Textile Water Initiative was launched to minimise the environmental effects of factories and enhance their capacity to bridge gaps in this field. The Climate Smart Production is a programme that supports innovation in technology to enable environmentally friendly materials and processes.