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India Seeks Swedish Cooperation in Higher Education
New Delhi, April 01, 2008
During the bilateral meeting between Kamal Nath, Union
Minister of Commerce & Industry and the visiting Swsedish
Minister of Foreign Trade, Ms. Ewa Bjorling, here , Kamal Nath
informed that India is seeking active cooperation in the field
of higher education. He further mentioned that India and
Sweden have identified complementarities in high-tech areas of
IT, biotech, automotive industry and electronics, and that, it
is necessary for the two countries to catalyze cooperation in
the region by involving industry, academia and local
universities. The meeting was attended by Ajay Shankar,
Secretary (Industrial Policy & Promotion); G.K. Pillai,
Commerce Secretary; senior officials from the Ministry of
Commerce and Industry, Directorate General of Foreign Trade;
representatives from the apex chambers and business
communities from both sides.
Both sides discussed about the development of trade and
economic relations. While expressing his appreciation for the
Swedish government’s desire for enhanced engagement with
India, Kamal Nath stated that: “Sweden’s strong interest to
deepen and diversify relations with India especially in the
area of trade and economic development as also in frontier
areas of high technology”.
Kamal Nath expressed satisfaction that based on the
recommendations of the High Level Trade Group, both sides have
started negotiations for a Broad-based Trade and Investment
Agreement and two rounds of fruitful negotiations have already
been held between India and the EU. As regards Indo-Swedish
Joint Commission, Kamal Nath stated that he recognises the
importance of early holding of 15th meeting of the Joint
Commission in 2008.
Underlining India’s liberalized overseas investment norms,
Kamal Nath informed that more than 13 Indian IT companies have
their offices in Sweden. Wipro, TCS, Infosys, L&T, etc. have
bagged important projects in Sweden and some them have their
development centres in Sweden and their cumulative exports are
estimated at US $ 80 million. A few Indian pharma companies
have also formed collaborative relations to establish joint
R&D facilities in Sweden.
As regards multilateral trade is concerned, Kamal Nath
informed the Swedish Minister that India looks forward to the
conclusion of the Doha Round by 2008. “India has been engaging
constructively and actively with other fellow Member countries
of the WTO towards this end. For India, it is important that
the Doha Round negotiations are brought to a successful
conclusion. Such a conclusion can only be possible if we are
faithful to the mandate and the outcome reflects a clear
balance between market opening and the development needs of
the majority of the membership. India is ready to show the
necessary flexibility to achieve such an outcome but the onus
for movement lies largely with the developed countries”, he
added.
The bilateral trade between India and Sweden during the year
2006-07 was to the tune of US $ 2322 million, compared to US $
1498 million in 2005-06. The main export items to Sweden are:
readymade garments cotton including accessories, manufactures
of metals, cotton yarn, fabrics, made-ups, etc., machinery and
instruments and carpet. The major import items from Sweden
are: electronic goods, computer software in physical form,
machinery except electrical and electronics, gold and iron and
steel.
Sweden ranks 13th and cumulative FDI inflows (net of ADRs/GDRs)
from Sweden is US $ 561.9 million (0.87%), excluding FDI
inflows received for acquisition of existing shares (upto
1999), RBI’s-NRI Schemes, stock swapped & advance pending for
issue of shares. Top sectors attracting FDI inflows (from
January 2000 to October 2007) from Sweden are miscellaneous
mechanical & engineering industries (21.27%), electrical
equipments (including computer & pharmaceuticals (9.84%),
industrial machinery (6.88%) & electronics (5.73%).
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