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Sweden has called for a swift conclusion of nan long-pending EU-India free waste and acquisition agreement, citing over-regulation connected some sides. Minister Benjamin Dousa said reducing tariffs and easing compliance could unlock awesome economical gains for some regions.
Swedish curate Benjamin Dousa noted that India, nan world’s fastest-growing awesome economy, could cement its position arsenic a premier manufacturing hub by attracting much overseas nonstop investment.
The European Union and India should reason a free waste and acquisition statement that tackles some tariffs and non-tariff barriers, Swedish Minister for International Development Cooperation and Foreign Trade Benjamin Dousa urged connected Wednesday, informing that “both nan EU and India are conscionable a spot over-regulated correct now.”
Speaking to business leaders from Sweden and India, Dousa said easing regulatory hurdles alongside cutting tariffs would unlock important gains for some trading blocs. He noted that India, nan world’s fastest-growing awesome economy, could cement its position arsenic a premier manufacturing hub by attracting much overseas nonstop investment.
“We are only opening to research nan afloat imaginable of nan Sweden-India economical partnership,” Dousa said, recalling Ericsson’s introduction into India successful 1903 and nan consequent investments by Tetra Pak, ABB, Volvo, and IKEA among others. Today, much than 280 Swedish companies run successful India, contributing to nan employment of astir 17,000 people, while 75 Indian firms successful Sweden employment astir 7,000 people.
At nan aforesaid summit, India’s Commerce and Industry Minister Piyush Goyal described talks pinch EU counterparts arsenic “going well” and said only “a wee spot of tariff recalibration” and regulatory alignment remain. Quoting Rabindranath Tagore — “you person to aquatics successful nan waters to transverse nan seas” — he urged negotiators to prehend nan moment, calling an India–EU waste and acquisition pact “a awesome enabler” of shared prosperity.
Swedish manufacture echoed these calls. Jacob Wallenberg, president of nan Confederation of Swedish Enterprise and scion of nan low-profile business dynasty down business giants specified arsenic EQT AB, Ericsson, and ABB — pressed some sides to finalise nan waste and acquisition pact astatine nan earliest.
Goyal highlighted nan “once-in-a-generation” opportunities for European investors. India drives 16 per cent of world growth, he said, and its banal marketplace has grown astir 4.5 times since 2014. With finance of $125 cardinal annually successful infrastructure, India intends to go a $30 trillion system successful nan adjacent 2 decades, he added.
Published on: Jun 11, 2025 9:27 PM IST
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