From Weapons to Wheels: Sweden’s Make-in-India Partnership Moves Into a New Phase
The scale of the relationship has grown sharply in recent years. According to the Ministry of External Affairs’ India–Sweden brief, bilateral goods trade rose from USD 2.86 billion in 2016 to USD 7.75 billion in 2025. Sweden is also listed as the 22nd-largest investor in India, while around 280 Swedish companies now have a business presence in the country. These include major names such as Ericsson, Saab, Volvo, Sandvik, Alfa Laval, IKEA, SKF, ABB, AstraZeneca and Tetra Pak. The same MEA brief notes that Swedish companies have a long record of manufacturing in India and rank among the leading foreign participants in the Make-in-India ecosystem.