India-Sweden Defence ties
Why in News?
- Indian Defence Minister recently addressed an India-Sweden Defence Industry Cooperation webinar.
Planned events for defence cooperation
- A Memorandum of Understanding (MoU) was signed between the Society of Indian Defence Manufacturers and the Swedish Security and Defence Industry Association to promote bilateral defence industrial relations.
- High-level delegation from Sweden to have a glimpse of Indian defence industries and defence industry corridors.
- Swedish and Indian defence industries for co-production and co-development.
- Indian industries to supply components to Swedish industries.
- Sweden welcomed the understanding by India and European Union (EU) to resume negotiations on a Free Trade Agreement (FTA).
- Using Small and Medium Enterprise (SME) businesses to deepen defence industry cooperation
Other areas of Cooperation with Sweden
- Political- The first India-Nordic Summit took place in the year 2018. India and five Nordic countries – Sweden, Norway, Finland, Iceland and Denmark held the summit to deepen cooperation.
- Defence- Sweden is looking at selling its Gripen warplanes to India under the ‘Make in India’ programme in 2016.
- Economic relations- The bilateral trade between two countries presently stands around USD 2 billion. After China and Japan, India is Sweden’s third largest trade partner in Asia.
- Technology- India-Sweden High-Level Dialogue on innovation policy: Focus on areas such as digital health, artificial intelligence (AI), future mobility and circular economy, ‘Smart cities and clean technologies’ and ‘Digitisation and Internet of Things’
- Environmental- Agri-Waste to High Energy Biocoal pilot project
- Public Administration& Ethos- The close relations will further the values of democracy, rule of law, pluralism, equality, freedom of speech, and respect for human rights.
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