Posted on 11/19/2006 1:51:40 PM PST by WesternCulture
"India-Sweden trade hits $1.7bn
NEW DELHI: Trade between Sweden and India has doubled between ’02 and ’06 to about $1.7bn per year. With Swedish exports to India increasing by 42.5% in ’06 alone, the country is optimistic that the future of bilateral trade relations between the two countries is bright.
Launching the second edition of the Sweden-India Business Guide ’06-’07, Harald Falth of the Swedish embassy pointed out
that trade had multiplied in both directions. “India is the third-largest export market for Sweden in Asia. And Indian export to Sweden is steadily increasing. The two-way future of Swedish-Indian trade sure looks very upbeat. Besides, Sweden is among the ten largest European investors in India,” he said.
According to an embassy release, Swedish companies have been investing heavily in India, primarily in manufacturing, automotive, pharmaceuticals, medical technology, telecom and IT. Telecom and IT comprises almost 50% of Sweden’s export to India.
There is also an emerging interest in lifestyle products, environment technology, renewable energy and consultancy services.
The release added that India was a preferred trading partner for Sweden as it is the fourth-largest economy in the world in terms of purchasing power.
And as incomes are growing faster, India is becoming a major emerging market for consumer goods, it added."
This is indeed important.
BUT, analysts tend to forget about India. India has a major advantage over China in the field of getting connected to the awesome cash flow between the richest countries of the world.
That of housing a workforce of one billion english speaking producers well acquainted with the West.
Been to India.
Among other things I brought home with me was an ever-lasting sense of respect for how hard the offspring of this great nation works.
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