PM Modi Invites European Companies To Expand Investments In India, Build R&D Partnerships

New Delhi, Oct 30 (KNN) Prime Minister Narendra Modi on Sunday urged Swedish and European companies to increase investments in India across manufacturing, green hydrogen, clean energy, AI and digital infrastructure, citing opportunities created by reforms and infrastructure growth.

Addressing the European Round Table for Industry (ERT) during his Sweden visit, Modi called for greater collaboration to position India as a global R&D hub, highlighting opportunities in electronics, deep-tech manufacturing, telecom, mobility, healthcare and life sciences.

He assured companies of institutional support for flagship projects and called for the next wave of technological innovation to be developed jointly in India, reported PTI.

India seeks deeper European industrial engagement

Modi said India's reform agenda over the past 12 years, backed by political commitment, had enhanced its investment appeal. He cited its young population, expanding middle class, economic growth, improved ease of doing business and digital public infrastructure as key strengths.

Emphasising shared values of democracy, transparency, innovation and sustainability, he called for combining Sweden's innovation capabilities with India's scale, talent and growth potential.

The roundtable, hosted by Volvo Group, was attended by Swedish Prime Minister Ulf Kristersson, European Commission President Ursula von der Leyen and leading industry representatives from India and Europe.

Modi welcomed the conclusion of India-EU Free Trade Agreement (FTA) negotiations, saying the pact could boost trade, technology, manufacturing, services and resilient supply chains. He called for its early implementation and highlighted the India-West Asia-Europe Economic Corridor (IMEC) as another opportunity to strengthen business ties.

Focus on green hydrogen, critical minerals and advanced manufacturing

Modi separately urged Swedish CEOs to deepen their engagement with India through initiatives such as Make in India, the National Green Hydrogen Mission and the National Critical Mineral Mission.

Discussions focused on cooperation in clean energy, defence, semiconductors, advanced manufacturing, supply chains, sustainable mobility, life sciences and digital technologies.

According to a Ministry of External Affairs release, Modi acknowledged Swedish companies' contribution to India's growth and called for stronger collaboration in research, innovation, green transition and manufacturing.

He said bilateral ties were evolving beyond a traditional buyer-seller relationship towards a long-term industrial partnership centred on technology, innovation and co-creation.

Modi, Swedish Crown Princess Victoria and Prime Minister Ulf Kristersson also participated in the interaction with business leaders.

Proposal for annual India-Europe CEOs' meeting

Modi emphasised talent mobility, education and skill partnerships between India and Europe, saying India's young, skilled workforce could contribute to future global economic growth.

He proposed holding the India-Europe CEOs Round Table annually and establishing an India Desk at the European Round Table for Industry (ERT) to strengthen business-government engagement.

Reiterating the vision of ‘Design for India, Make in India and Export from India’, he invited European companies to deepen their participation in India's manufacturing and innovation ecosystem.

The discussions centred on strengthening industrial and economic ties through sustainable growth, technological collaboration and resilient global partnerships.

(KNN Bureau)