Karnataka strengthens ties with Sweden to attract more investments. With 25% of Swedish capital already in the state, officials are targeting growth in AI, green energy, and manufacturing, inviting Sweden to the Global Investors Meet 2027.
Karnataka as a Gateway for Swedish Investment
Karnataka is positioning itself as a gateway for Swedish investments in India, with 25 per cent of Swedish investments in the country already located in the state, an issue discussed during a meeting between Sweden’s Ambassador to India, Petra Menander, and Karnataka Chief Minister DK Shivakumar in Bengaluru on Friday. According to an official press release from the Department of Global Investment and NRI Affairs, the two leaders discussed investment, business and technology opportunities.
Expanding Business Presence and Collaboration
Ambassador Petra Menander emphasised Karnataka’s position as a gateway for investments and said that about 61% of existing Swedish companies in India want to expand in Karnataka. She highlighted specific sectors where Karnataka and Sweden can collaborate for increased investments. According to the release, Chief Minister DK Shivakumar emphasised building on Bengaluru’s technology ecosystem and Sweden’s expertise in advanced manufacturing, artificial intelligence and green energy.
Strategic Economic Opportunities
The Chief Minister welcomed the proposed investment of Asea Brown Boveri (ABB) into Karnataka and noted Karnataka’s strong Swedish business presence. He pointed out that Volvo Group has manufacturing facilities near Bengaluru and major technology, product-development and innovation operations in the city. He also listed companies such as AstraZeneca, Autoliv, Ericsson, Hitachi Energy, IKEA, Securitas, Trelleborg and VE Commercial Vehicles, whose activities span life sciences, automotive safety, telecommunications, energy technology, retail and industrial operations.
The Chief Minister informed the Ambassador about Karnataka’s new Aerospace and Defence Policy and encouraged Swedish companies to look beyond Bengaluru and invest across Karnataka’s districts. He concluded by inviting Sweden to participate in Karnataka’s Global Investors Meet 2027 as a country partner, providing a platform to strengthen bilateral trade and investment ties.
Minister for Home, Information Technology and Biotechnology and E-Governance, Mr. Priyank Kharge, who has been instrumental in strengthening Karnataka’s position as a leading destination for technology, innovation and startups, emphasised the opportunities for Swedish companies to expand investments and strengthen bilateral economic cooperation. The Swedish delegation included Rebecca Von Schreeb, First Secretary, Political Affairs, and Johny Eriksson, Head of Business, Sweden in Bengaluru. From the Karnataka side, Tushar Girinath, Additional Chief Secretary to Chief Minister; Selva Kumar, Principal Secretary, Industries and Commerce; S S Nakul, Secretary, Global Investment and NRI Affairs and Avinash Menon Rajendran, Director, Department of IT & BT, were present. (ANI)
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