Gothenburg [Sweden], May 18 : Applauding the metoric rise of India's startup ecosystem to become the third largest in the world, Prime Minister Narendra Modi on Sunday (local time) highlighted how India's startup infrastructure creates global solutions in the Artificial Intelligence (AI), Fintech, Space, and Mobility sectors.
While addressing the European CEO Round Table organised by Volvo company in Gothenburg, PM Modi called for partnership between India and Europe, stressing that in the present-day global uncertainity and supply chain pressure, both can work together to become strong pillars of stability, sustainability, and shared prosperity.
"Today, India possesses the world's third-largest startup ecosystem. Our startups are creating global solutions in AI, Fintech, Space, Drones and Mobility. In today's world marked by uncertainty, where supply chains are under pressure, technological competition is intensifying, and both energy security and climate action face challenges, at such a time, India and Europe can join forces to become strong pillars of stability, sustainability, and shared prosperity. With this very spirit, I invite you all to join India's journey of development," he said.
The Prime Minister further stressed that the present-day relations between India and Europe have reached a "turning point", where at government level a strategic and ambitious agenda has been established. He further emphasised that both sides endeavour to implement the India-EU Free Trade Agreement quickly, adding that Security and Defence Partnership, as well as the Mobility Agreement, have given a new direction to the cooperation of both sides.
"Today, relations between India and Europe stand at a new turning point. At the governmental level, we have established an ambitious and strategic agenda. A consensus has been reached regarding the India-EU Free Trade Agreement...We endeavour to implement this as soon as possible. The Security and Defence Partnership, as well as the Mobility Agreement, have also given a new direction to our cooperation," said the Prime Minister.
Highlighting India's core mantra of "Reform, Perform and Transform", PM Modi emphasised that the country's youth, expanding middle class and infrastructure expansion are giving new momentum to country's growth.
"Today, I have come to invite you to work together with India. As the fastest-growing major economy, India is moving forward today with a newfound confidence...Our young population, expanding middle class, and infrastructure expansion are giving new momentum to India's growth. Over the past 12 years, India has followed the core mantra of 'Reform, Perform, and Transform,' and driven by the government's political will, this reform express is racing ahead at full speed," said PM Modi.
Apart from PM Modi, Swedish PM Ulf Kristersson, President of the European Commission Ursula von der Leyen, senior European industry leaders, and representatives from leading European and Indian companies participated in the European CEO round table hosted by the Volvo Group.
Earlier in the day, PM Narendra Modi was conferred Sweden's prestigious "Royal Order of Polar Star Commander Grand Cross", the highest honour awarded by the Scandinavian nation to a foreign head of government.
The exceptional award was presented during the Prime Minister's visit to Sweden and marks the 31st international honour received by the Indian Prime Minister from a foreign country.
PM Modi is in Sweden currently, which is the third leg of his five-nation tour. He will later head to Norway on May 18.
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