Indian business leaders court Swedish industry for investment in India

In a strong pitch to Swedish industry leaders, prominent Indian business figures urged greater investment in India, highlighting the country’s robust growth prospects and its unique positioning in the global economy.

Speaking at a business event in Stockholm, Rajan Mittal, Vice Chairman of Bharti Enterprises, underscored India’s economic dynamism and future potential. “If India is not being spoken about in your boardrooms, you need to ask your members why not,” he said. “India will provide an unimaginable opportunity in the next 20 years. Europe is struggling, and so is the UK.”

Mittal emphasized India’s demographic advantage and entrepreneurial energy. “If you work four days a week, we are going to eat you for lunch and dinner,” he quipped. “We are a young entrepreneurial nation. Partnerships are the way to go.”

Mittal also drew favourable comparisons between India and China, noting that not only is investing in India easier, but repatriating profits is also more straightforward. “I’ve worked with Ericsson since 1992 — it has been a wonderful relationship,” he added, referring to the long-standing Indo-Swedish industrial and economic partnership.

Amit Kalyani, Deputy Managing Director of Bharat Forge, echoed Mittal’s sentiments, highlighting India’s strategic advantage. “India is the only market where Swedish companies do not have to compete with China,” he pointed out, reinforcing India’s uniqueness as an investment destination.

Adding further weight to the case, Mohit Singla, Chairman of the Trade Promotion Council of India (TPCI), noted a recent surge in Swedish business interest. “Over the past three years, India has consistently ranked among the top three destinations for Swedish companies. This year, it stands at the top,” he said, citing data from Business Sweden, the country’s trade and investment council.

The message was clear: India is open for business, and Swedish companies are being invited to take part in what could be one of the most significant economic growth stories of the next two decades.