India continues to be the favourite destination of Swedish manufacturers, and Maharashtra their favourite state to set up business, with Swedish firms generating 1.6 lakh direct and 11 lakh indirect jobs in India through their presence in the country for several decades.
Sweden has one of the biggest country pavilions at the Make in India Week, with 11 of its biggest companies marking their presence. Themed ‘Smart Manufacturing’, the pavilion — inaugurated on Saturday by Swedish Prime Minister Stefan Löfven — has as partner companies ABB, Atlas Copco, Camfil, Ericsson, IKEA, SAAB, Sandvik, Scania, SKF, Tetra Pak and Volvo.
The state is clearly preferred, with 51 per cent of Swedish manufacturing companies present in Maharashtra and 33 per cent having their headquarters here.
The Swedish Chamber of Commerce India in partnership with the Embassy of Sweden in New Delhi, the Consul General in Mumbai and Business Sweden, conducts an annual Business Climate Survey (BCS) amongst the Swedish business community established in India.
The 8th BCS brings to light the experience of doing business in India as perceived by 141 Swedish companies in India from sectors such as engineering, IT, telecom, fashion and lifestyle, life science, medicare, health care, automobile, services and defence.
Parag Satpute, Vice Chairperson, Swedish Chamber of Commerce India and Country Manager, Sandvik Asia says 89 per cent of Swedish companies in India participated in the 8th BCS, and the results show that 70 per cent see India as a major hub for exports — a big jump considering only 30 per cent had expressed such sentiments last year.
He added, “For India to truly take its place in global value chains, there are key reforms that need to materialise. This sentiment resonated across Maharashtra as well, which is a major manufacturing hub for Swedish companies in India. We hope that the insights offered through the BCS will be a great tool for Swedish companies looking to enter India.”
Fredrika Ornbrant, the Swedish Consul General in Mumbai, said Swedish companies in India are positive despite a slightly lower figure compared to last year, and continue to invest and expand their manufacturing and operations.
“My feeling is there is a great demand for Swedish clean tech and there are various Swedish solutions to create a more sustainable society. Also, eight of 10 companies in the survey actively work with gender diversity. A workforce with men and women is good economics,” Ornbrant said.
51% of Swedish companies are in Maharashtra and 33% have their headquarters
