Currently, more than 200 Swedish companies are present in India. The Indian economy has gone through ups and downs over the last decade. The decade started with the robust growth of more than 10 per cent GDP growth and ended with ~4 per cent. Still, India remains Asia’s third-largest economy after China and Japan.
The majority of Swedish companies are very optimistic about the Indian market and plan to expand operations; 51 per cent of respondents want to increase investments during the upcoming 12 months. The government’s push to bring efficient and effective norms for MSMEs, start-ups, businesses, and entrepreneurs is likely to be one of the primary reasons behind Swedish players’ increasing interest in entering the Indian market.
The Swedish brand supports companies’ value proposition. The vast majority of companies in our sample reports that their “Swedish brand” positively contributes to their business activities in India, irrespective of the company size and sectors.
Amid the increasing rate of deforestation, climate control, and high level of pollution, Indians are increasingly inclining towards environmental sustainability, so does their buying behaviour. Especially Millennials and Gen Z prefer buying products from organisations that prioritise sustainable production.
The Business Climate Survey is a tool used by Team Sweden to map the opportunities and challenges Swedish companies face when doing business across the world. Please download the report to fully overview the results with a detailed analysis.
ABOUT THE SURVEY
Our Business Climate Survey report is the result of the survey conducted in India in spring 2021. About 210 Swedish companies were asked to participate in the survey, and 190 did, which corresponds to a response rate of 90 per cent! This speaks to the sense of community and collaboration that is there in the business group.