India, the world’s largest democracy with a population of 1.3 billion people, offers extensive opportunities for business and collaboration. Forecasts predict that it will be the third largest economy by 2030. India has managed to lift a large part of the population out of poverty while structural reforms and investments drive economic growth and social transformation.
Development and urbanisation are rapidly increasing the match between Swedish expertise and Indian market demand. In addition to traditional industries such as automotive, industrial tools, pulp and paper, and IT, we can now add smart cities, healthcare and consumer products to the list of wanted products and services. The fast-growing middle class drives a shift in consumer behaviour towards new digital business models and e-commerce.
Vast market potential
Trade relations between Sweden and India dates back almost 300 years. In recent years, India has become a global innovation and start-up hub, something that leading Swedish companies have learned to utilise. Today, there are over 200 registered Swedish companies in India that indirectly employs over 1.2 million people. The vast market potential has created a favourable business climate for companies that like to establish a presence, making India a regional business hub.
A few challenges that Swedish companies need to be aware of include bureaucracy, corruption, protection of intellectual property and a certain level of resistance towards foreign investments.
How we can help
Business Sweden has helped Swedish companies grow in India for more than 25 years. From our two offices in Bangalore and New Delhi, we also support Swedish companies in neighbouring markets such as Bangladesh, Sri Lanka, Pakistan, Bhutan, Nepal and the Maldives. We can help you understand the business culture, plan your market entry in relevant segments, and suggest suitable partners, to mention a few of our key services.