New Delhi’s diplomatic circles are buzzing with optimism following the landmark free trade agreement (FTA) between India and the European Union, hailed as the ‘Mother of All Trades.’ In an exclusive interview with IANS, Sweden’s Ambassador to India, Jan Thesleff, described the pact as a game-changer that signals deep mutual trust and opens floodgates of opportunities.
The ambassador highlighted India’s vast talent pool and the creativity of its youth. ‘This is a historic agreement that truly demonstrates how much trust India has in the European Union and vice versa,’ Thesleff said. For Sweden, already entrenched in India with a strong presence, the FTA removes barriers, paving the way for new entrants. He emphasized benefits for small and medium-sized enterprises (SMEs), where most jobs are created.
‘We see a lot of new opportunities coming for our companies, big ones, but especially small and medium-sized ones. And we all know that jobs are created in small and medium-sized companies. There’s a lot of creativity and innovation here,’ Thesleff noted. The deal’s signal value extends to fostering trust between leaders, from Indian Prime Minister to EU representatives, encouraging SMEs on both sides.
Sweden boasts 400 companies in India, accounting for 7% of all EU firms here—a clear sign for others to invest, manufacture, and innovate. Beyond economics, the FTA invites scientific and technological collaboration, establishing centers of excellence. Thesleff pointed to Sweden’s involvement in automotive, IT, and pharmaceuticals, underscoring the two-way street: 75-80 Indian companies have invested in Sweden, including major projects in Gothenburg.
Investments breed jobs and intellectual remittances. Skilled Indians in Sweden’s innovative ecosystem bring back invaluable skills, benefiting families and India’s tech growth. ‘This is a signal to skilled Indians and Europeans that new opportunities and job doors are opening,’ he said. Indians are now the largest group of foreigners arriving in Sweden, projected to form 1% of its population by 2030. Despite geographical distances, India and Sweden are drawing closer every minute.