Sweden-India Business Council celebrates 20 years!

[Stockholm, May 24] The Sweden-India Business Council (SIBC) this week celebrates 20 years of strengthening and promoting business relations between Sweden and India. Since its establishment in 2003, the organization has played an important role in facilitating trade, investment, development, technical cooperation and promoting relations between the two countries.

They have over 250 members and partners and work with 60 CEOs in the Sweden India business corridor. The Sweden-India Business Council has arranged over 700 events, roundtables, seminars and delegations over the past 20 years.

Spoke at the Sweden-India Business Council's 20th anniversary did, among others Marcus Wallenberg, Minister Andreas Carlson, Zia Mody, Ambassadör Tanmaya Lal, Ambassadör Jan Thesloff, Robin Sukhia, Leif Johansson, Umakant Soni, Malin Mendel, Arati Davis, Cecilia Oldne, Prashant Agarwal, Björn Ekegren, Per-Arne Wikström, Sarbajit Ded, Malin Pedersen, Anna-Karin-Jatko, Leif Johansson, Magnus Schöldtz, Henrik Chetan Aspengren, Tanvi Madan, Håkan Kingstedt, Anna Gissler, Dr Garima Mohan, William Rhatinasamy, Jenny Eklund, Håkan Engelmark, Dhruva Jaishankar, Niklas Gustafsson, Sofie Vennersten, Rowan Högman, Professor Hans Edin, Mats Palmberg, Arunkumar Govindaraj, Pranav Kosuri, Sanjoo Malhotra och Mats Agervi.

Sweden-India Business Council was founded in May 2003, after a high-level business delegation led by then Minister of Trade Leif Pagrotsky in 2002. Leif also attended the celebration.

The interest in India in Sweden has never been greater and the same applies to Sweden in India. In April this year, India overtook China as the world's most populous country. The country is home to approximately one fifth of the world's population and has the world's youngest, fastest growing population with an average age of 28 years. In Sweden, it is 41 years. Just under half of India's population, i.e. around 700 million people, are under 25 years of age, and almost two-thirds are under 35 years of age. In addition, by 2027, India will have the world's largest workforce with 1 billion people between the ages of 15 and 64.

India has one of the fastest 5G rollouts in the world. As of January 2023, there are a total of 108 unicorn start-ups in India. It constitutes almost 10% of the total unicorns in the whole world.

According to the latest statistics, there are around 260 Swedish companies operating in India that indirectly employ over 1.2 million people. On the other hand, there are over 60,000 Indians living in Sweden. India is one of the world's largest economies and also a global hub for innovative startups. In step with the country's urbanization process, more and more business opportunities arise for Swedish companies.

"This partnership symbolizes what we want to celebrate on our 20th anniversary - partnership and knowledge," says Robin Sukhia, Secretary General and CEO, Sweden-India Business Council who is also responsible for the 'India Sweden Business Leaders' Roundtable - ISBLRT'.

"During this time, we have witnessed an impressive growth and development in the relationship between Sweden and India, and the Sweden-India Business Council has played a crucial role as a reliable link between the two countries. At a time when sustainability is becoming increasingly central and expected of all stakeholders, there is a wealth of mutual learning between Sweden and India, and the opportunity for collaboration to shape forward-looking solutions is significant." adds Arati Davis, COO, Sweden-India Business Council who is also responsible for the 'Sweden India Transport, Innovation and Safety platform - SITIS'.

"Sweden and India unlock limitless business opportunities, combining innovation and market potential. Together, we foster collaboration and shape a promising future. The growing interest in India, my second homeland and the world's most populous country, brings great satisfaction. Here's to another 20 years of shared learning and continued success between our nations!" says Cecilia Oldne, Chief India Representative, Sweden-India Business Council, which also runs 'Sweden India Tech Community - SITEC'.

The Sweden-India Business Council is the secretariat for the CEO forum India Sweden Business Leaders' Roundtable. This forum is a platform for discussing and addressing current topics and challenges in trade, investment, innovation and sustainability. By building strong relationships and promoting cooperation, this CEO forum contributes to strengthening business relations between the two countries and increasing awareness of the business opportunities that exist.

The organization also runs the Sweden India Tech Community (SITEC) and Sweden India Transport, Innovation and Safety (SITIS) platforms.

The Sweden-India Business Council's advisors include Klas Eklund, Tom Johnstone, Ravi Venkatesan, Anil Raj, Umakant Soni, Neeraj Gupta, Magnus Schöldtz, Umakant Soni, Zia Mody, Akash Passey, Anil Raj, Harald Sandberg, Lars-Olof Lindgren, Owe Wagermark, Banashri Bose Harrison, Linda Johansson and Dr Reuben Abraham.

Last week, the India Trilateral Forum also took place in Stockholm. Among others, India's foreign trade minister Dr. Subrahmanyam Jaishankar was in Stockholm and participated in a number of events and activities.

This year SKF also celebrates 100 years in India and Volvo Group 25 years. Swedish Truecaller passed 350,000 million active users in India last month. Among Indian companies operating in Sweden are Tech Mahindra, Wipro, Tata Consultancy Services (TCS) and Infosys.

Sweden and India cooperate in important strategic areas, with a growing focus on jointly creating sustainable green and inclusive growth with innovation and creativity at the center.

During the past two decades, SIBC has served as an important platform for creating and promoting business opportunities between Swedish and Indian companies. By organizing seminars, business meetings, delegations and networking event, SIBC has actively contributed to building strong business relationships and increasing trade between the countries.

Over the years, SIBC has helped facilitate investments and business projects in various sectors, including the automotive industry, information technology, energy, life sciences and sustainable development. The organization has also been engaged in promoting knowledge exchange and technical cooperation by supporting educational programs and research projects between universities and research institutes in the two countries. SIBC's success is a result of the commitment and effort that the members and partners have contributed over the years.

This mutual presence of Swedish companies in India and Indian residents in Sweden illustrates the strong bond between the countries and the increased cooperation on both a business and cultural level. This opens-up opportunities for knowledge exchange, cultural exchange and an increased understanding of each other's societies and business environments. 

Trade relations between India and Sweden have been significant. Sweden is one of the most important trading partners for India within the EU. Trade between the countries has grown steadily and covers various sectors, including telecommunications, automotive, information technology, energy and life sciences. Many Swedish companies have established themselves in India and invested in various projects and sectors.

The cooperation between India and Sweden also extends to areas such as technology and innovation. Both countries have a strong commitment to promoting research and development and solving global challenges such as sustainability and climate change. There are collaborative projects and initiatives in areas such as green technology, smart cities, energy efficiency and sustainable development.

If you want to know more about the Sweden-India Business Council and the get more details about the celebration, email: info@sibc.se