PM Modi Invites European Industry to Expand Investment in India at Sweden Business Summit

Prime Minister Narendra Modi addressed the European Round Table for Industry (ERT) in Gothenburg, Sweden, where he called for deeper India-Europe economic cooperation and invited European companies to expand investments in India across manufacturing, technology, infrastructure, clean energy, and advanced industries.

The interaction, held on 17 May 2026 and hosted by the Volvo Group, brought together some of Europe’s most influential political and business leaders, including Swedish Prime Minister Ulf Kristersson, European Commission President Ursula von der Leyen, senior European industry executives, and representatives from leading Indian and European companies.

The meeting focused on strengthening strategic economic ties between India and Europe amid growing global uncertainty and increasing emphasis on resilient supply chains, trusted partnerships, and sustainable economic growth.

Modi Highlights Growing Strategic Convergence Between India and Europe

In his keynote address, Prime Minister Modi said India and Europe are experiencing growing strategic convergence at a time when the global economy is undergoing major geopolitical and technological shifts.

He stressed the importance of trusted international partnerships in an increasingly uncertain world marked by supply chain disruptions, geopolitical tensions, and economic fragmentation.

According to Modi, India and Europe share common interests in promoting:

• Economic resilience

• Sustainable growth

• Technological innovation

• Secure supply chains

• Democratic values and open markets

The Prime Minister said stronger India-Europe cooperation would help create a more stable and balanced global economic order.

India-EU Free Trade Agreement Called “Transformative”

A major focus of the discussions was the recently concluded India-European Union Free Trade Agreement (FTA), which Modi described as a landmark and transformative economic partnership.

He said the agreement would create major new opportunities in:

• Trade and investment

• Manufacturing

• Technology collaboration

• Services

• Supply chain integration

• Innovation partnerships

The Prime Minister noted that the agreement reflects growing confidence and trust between India and the European Union.

Analysts believe the India-EU FTA could significantly boost bilateral trade, improve market access, strengthen industrial cooperation, and expand opportunities for businesses on both sides.

IMEC Corridor Seen as New Strategic Opportunity

Prime Minister Modi also highlighted the India-Middle East-Europe Economic Corridor (IMEC) as a major initiative capable of reshaping connectivity and trade between India and Europe.

The corridor is expected to strengthen transportation, logistics, energy connectivity, and digital infrastructure across participating regions.

Modi said projects such as IMEC add “new value” to India-Europe business partnerships by creating more reliable and diversified trade routes and economic linkages.

The corridor is increasingly viewed as a strategic infrastructure initiative connecting Asia, the Middle East, and Europe.

India Positioned as Global Investment and Manufacturing Hub

The Prime Minister strongly promoted India as one of the world’s most attractive destinations for investment, manufacturing, and innovation.

He highlighted several factors driving India’s economic transformation, including:

• Rapid economic growth

• Next-generation economic reforms

• Improved ease of doing business

• Expanding digital public infrastructure

• Infrastructure modernisation

• Growth of manufacturing ecosystems

Modi reiterated India’s strategic vision of:

“Design for India, Make in India and Export from India.”

He encouraged European companies to deepen engagement with India as a trusted and reliable economic partner for global manufacturing and supply chain diversification.

Call for Resilient and Diversified Supply Chains

The Prime Minister emphasised that India and Europe must work together to build resilient and diversified global supply chains in response to recent global disruptions.

He said India’s expanding industrial capacity and policy reforms make it well-positioned to become a key global manufacturing and logistics hub.

Modi outlined India’s ongoing infrastructure and energy transformation programmes, including large-scale investments in:

• Transport and logistics

• Renewable energy

• Green hydrogen

• Nuclear power

• Urban infrastructure

• Mobility systems

He said these sectors offer significant opportunities for European investors, manufacturers, and technology companies.

European Companies Invited to Partner in Advanced Sectors

Prime Minister Modi invited European industry leaders to collaborate with India in several strategic and high-growth sectors.

These include:

Digital and Telecom Infrastructure

India is expanding digital connectivity and telecommunications infrastructure as part of its broader digital economy transformation.

Artificial Intelligence and Deep Technology

The Prime Minister highlighted opportunities in AI, semiconductors, electronics manufacturing, and advanced technologies.

Green Energy Transition

India is investing heavily in renewable energy, clean hydrogen, and sustainable infrastructure to meet climate and energy goals.

Infrastructure and Urban Development

Major opportunities exist in transportation, smart mobility, urban transformation, and logistics systems.

Healthcare and Life Sciences

Modi encouraged partnerships in pharmaceuticals, medical technology, biotechnology, and healthcare innovation.

The Prime Minister said India’s rapidly growing domestic market and reform-oriented policy environment make it an ideal long-term investment destination.

Talent Mobility and Skills Partnerships Prioritised

Another important theme of the discussions was talent mobility and education cooperation between India and Europe.

Prime Minister Modi highlighted India’s large young workforce and skilled talent base as a major advantage for future global economic growth.

He called for stronger collaboration in:

• Skills development

• Higher education partnerships

• Research and innovation

• Talent exchange programmes

• Workforce mobility initiatives

The Prime Minister stressed that stronger people-to-people connections are essential for building long-term strategic partnerships between India and Europe.

Proposal for Annual India-Europe CEO Roundtable

To institutionalise business engagement, Prime Minister Modi proposed holding an annual India-Europe CEOs Roundtable to strengthen regular dialogue between industry leaders.

He also suggested creating a dedicated “India Desk” within the European Round Table for Industry (ERT) to facilitate deeper engagement with Indian businesses and investment opportunities.

The proposals were aimed at creating structured platforms for long-term industrial collaboration, policy coordination, and investment partnerships.

Growing India-Europe Economic Partnership

The interaction in Gothenburg reinforced the growing importance of India-Europe economic relations at a time when both sides are seeking stronger cooperation in technology, sustainability, manufacturing, and strategic trade.

Officials said the discussions reflected a shared commitment to:

• Sustainable economic growth

• Technological collaboration

• Industrial innovation

• Supply chain resilience

• Clean energy transition

• Global economic stability

The meeting also highlighted India’s increasing role as a major global economic partner for Europe in an era of shifting geopolitical and economic dynamics.

India Strengthening Global Economic Engagement

Prime Minister Modi’s address forms part of India’s broader effort to position itself as a leading global manufacturing, technology, and investment destination.

With large-scale infrastructure projects, expanding industrial capacity, digital transformation initiatives, and strategic trade partnerships, India is increasingly seeking to attract international businesses looking to diversify operations and access emerging markets.

The interaction with Europe’s leading industrial and political figures is expected to further strengthen economic ties between India and the European Union in the coming years.