PM Modi’s Sweden visit boosts AI, defence ties

Prime Minister Narendra Modi continued his Europe tour with a major stop in Sweden. Additionally, the Prime Minister also addressed European Round Table for Industry (ERT). 

India and Sweden announced a new strategic partnership focused on green energy, AI, defence, semiconductors, telecom, and advanced manufacturing.

The two countries also set an ambitious target to double bilateral trade and investment within the next five years. 

Current trade between the two nations stands at around $7.75 billion.

Breaking it down: PM Modi urged Swedish and European companies to expand investments in India across electronics, deep-tech manufacturing, artificial intelligence, mobility, digital infrastructure, healthcare, and clean energy. 

One important agreement came in the space sector. India’s ISRO and the Swedish Space Corporation signed an MoU to jointly work on an instrument for India’s upcoming Venus Orbiter Mission.

Discussions also covered resilient supply chains, semiconductor collaboration, defence manufacturing, sustainable mobility and digital technologies. 

The next set of PM Modi’s European tour will include visits to Norway and Italy, where he is scheduled to meet Prime Minister Giorgia Meloni.