India-EU FTA will be a great enabler, says Goyal; pitches for stronger economic ties with Sweden

Stockholm [Sweden], June 11 : The proposed India-European Union Free Trade Agreement (FTA) will be a great enabler, Union Commerce and Industry Minister Piyush Goyal has said, adding that India will be able to offer greater opportunities for Sweden.

Attending India-Sweden Business Delegation meetings in Stockholm, Union Minister Goyal said, India and Sweden complement each other.

"The India-EU Free Trade Agreement is clearly going to be a great enabler... We do hope to be able to offer you a better pathway and greater opportunities in the future... I can assure you that we are making good progress and are deeply committed to strengthening this partnership, working together."

The Minister also highlighted India's growth prospects. "Today, amongst all the investment opportunities available anywhere in the world, I dare say the market of 1.4 billion aspirational Indians can beat any other opportunity. When 1.4 billion Indians take one step forward, our country takes 1.4 billion steps forward. That is the spirit in which the Indian growth story is powering on," said Goyal.

Inviting the business community to invest in India, Goyal further added, "We would like to invite all the distinguished business leaders of Sweden to come to India to experience our country. I am sure this tested partnership can really grow beyond the frontiers of what we have achieved so far."

With over 280 Swedish companies in India and 80+ Indian companies in Sweden, the potential for collaboration is immense.

H said the proposed India-EU FTA has huge potential.

"There's huge potential awaiting all of us. We complement each other. Sweden and India, working as friends, as trusted partners, can transform the Indian economy; the Indian growth story can support the Swedish plans for the future."

Goyal said India is not only the largest and fastest-growing economy but it will continue to grow for the next 20-30 years. He highlighted that India has one of the lowest inflation rates and strong forex reserves. Citing the favourable business ecosystem, he appealed to the investor community to make investments in India.

Goyal reached Sweden after finishing his two-day official visit to Switzerland.

Apart from other engagements, he will engage with the Indian diaspora and address media interactions, further strengthening the people-to-people connections and communicating the vision for the India-Sweden partnership.

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