India-Sweden Strategic Compass: A Bi-Monthly Newsletter; Vol.4: No.3, May-June 2025.

A good momentum is visible continuously in India-Sweden ties, strengthening India-Nordic and India-EU ties as well. Minister of Commerce and Industry, Mr. Piyush Goyal’s successful visit has boosted India-Sweden trade and economic ties. Both Sweden and India are looking to identify new opportunities for trade, employment and growth in innovative areas such as green transition and sustainable technology.

Importantly, the joint paper on the proposed India-European Union Free Trade Agreement, released during the India-Sweden High-Level Trade and Investment Policy Forum, underscores India’s and Sweden’s collective commitment to forging stronger economic ties and fostering inclusive growth. Minister Goyal also concluded a successful visit to Switzerland, which reinforced the impetus for the India-Switzerland partnership under the EFTA TEPA.

Notably, India and the UK finalized a landmark trade agreement after three years of negotiations. The FTA will eliminate tariffs on a wide range of Indian exports, making them more competitive in the wider market, including in the UK. This includes key sectors like textiles, leather, engineering goods, and pharmaceuticals. The agreement is expected to encourage UK investment in India, particularly in areas like technology and infrastructure. The FTA will undoubtedly further strengthen the UK-India strategic partnership. The India-UK FTA is part of New Delhi’s broader push to finalise high-value trade deals with complementary economies, following recent agreements with the UAE and EFTA.

Sweden also welcomes the new Indian Ambassador to Sweden, Mr. Anurag Bhushan. His career in the foreign service reflects a thoughtful blend of policy insight and international engagements across important postings. Mr. Bhushan is well-positioned to bring experience and knowledge from his rich career to contribute to and strengthen India-Sweden ties.