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Increased Swedish confidence in India’s business potential, markets

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India and Sweden, which share more than a decade of camaraderie in terms of political, cultural, social, and economic ties, have only grown closer with the exchange of knowledge and experience. India-Sweden Innovation Summit was a perfect example of such strengthening of ties. Besides innovation and advanced technology, another sector which witnessed similar growth trajectory in network and strategies, is business and trade. Swedish companies have shown tremendous interest in the potential of Indian markets.

Similar kind of optimism was reflected in the 13th edition of the Business Climate Survey (BCS), which exhibited an increasing confidence of Swedish companies in conducting business in India. Additionally, the recent BCS report also showed a substantial increase in Swedish companies’ interest and intent of doing business in India compared to the pandemic-marred 2020.

BCS is a highly-trusted annual survey, conducted since 2008 by the Swedish Chamber of Commerce, India (SCCI), along with the Embassy of Sweden in India, the Consulate General of Sweden in Mumbai, and Business Sweden. It is undertaken every year to understand the strengths and weaknesses of India-Sweden business relations, and how long-standing and emerging obstacles can be identified, reduced and resolved.

So far, more than 220 Swedish companies are operating in India, actively contributing to various business verticals, such as Industrial Equipment; IT & Electronics; Healthcare MedTech & Pharma; Business Services; Retail Consumer Goods & Services; Automotive Heavy Vehicles & Auto Components. More companies are now entering the Environmental Technology & Energy sector (Water, waste, HVAC, etc.). These companies have had a huge impact on the Indian job market as they employ over 200,000 people directly and another 2.2 million indirectly.

Commenting on the strengthening of ties between the two nations, Anna Hallberg, Swedish Minister for Foreign Trade and Nordic Affairs, said: “Sweden and India’s bilateral cooperation has grown even stronger despite the pandemic. Swedish companies have repeatedly shown that they have a long-term commitment towards India. Therefore, I am particularly proud that the 2021-22 Business Climate Survey (BCS) has received such a massive response and highlights important areas such as green transition and women in the workforce.

“The BCS provides valuable information on the business climate in India, as perceived by Swedish companies. It is therefore of great importance to the Swedish Government and will play an important role in the preparations for the upcoming meeting of the Joint Commission for Economic, Industrial and Scientific Cooperation, and for the preparations of the upcoming trade negotiations between India and the EU.”

At the launch of this year’s BCS report, Sweden’s Ambassador to India, Klas Molin, remarked: “Swedish companies continue to thrive in India. Even in the wake of the challenges posed by the pandemic, Swedish companies have continued to invest, expand, and believe in India. As reflected in the Business Climate Survey, it is highly encouraging to see that so many Swedish companies are planning to increase their investments in India in the years ahead.”

This year’s survey, titled ‘Towards Sustainable Growth’, reflected the commitment shown by Swedish companies in their long-term association with India, given the country’s business environment, which is deemed supportive and encouraging with promising growth prospects. Interestingly, despite the pandemic adversely impacting the country’s economic growth, Swedish companies are looking forward to expanding their business and investment in India, especially in sustainable technologies, to create a greener and a lasting impact. Besides, the survey also took into account the increase in job opportunities and representation of women in the Indian workforce. These also acted as one of the key factors influencing business dealings between the two nations.

In line with the ongoing trends and key agenda of exploring business opportunities in India, a six-member delegation led by Sweden’s Ambassador to India Klas Molin will soon be visiting Sweden for a weeklong roadshow titled “Time for India”. Among diplomats accompanying Molin will be Consul General of Sweden to Mumbai Anna Lekvall, Trade Commissioner Cecilia Oskarsson, General Manager of the Swedish Chamber of Commerce to India Sara Larsson and Counsellors for Science & Innovation and Trade Per-Arne Wickström and Markus Lundgren.

The delegation will be joined by India’s Ambassador to Sweden & Latvia Tanmay Lal, and Chairman of Sweden India Business Council Hakan Kingstedt. The roadshow will start from Stockholm, followed by Lulea, Göteborg, Malmo and then back to Stockholm, where the Indian Embassy in Sweden will be organising a final seminar on Investing in India.

“Time for India” will have a series of breakfast seminars, which will provide a comprehensive insight into different sectors and markets linked to the Indian trade industry and their business potential. The trade roadshow will focus on analysing and availing the opportunities available to Swedish companies in India and for Indian companies in Sweden and forming required strategies to strengthen trade ties between the two nations, keeping in mind the current economic developments.

Speaking about the ambitious business campaign, Ambassador Klas Molin said: “Time for India is a part of an ambition shared by Sweden and India to strengthen and increase bilateral trade and investments. The plan that has been tasked us to perform has been backed by our Prime Ministers as well as Indian and Swedish Ministers of Commerce, Piyush Goyal and Anna Hallberg, respectively. Our goal is to increase investments, opportunities, employment and the flow of goods and services between our countries.”

Molin added that the roadshow’s roadmap includes exploring business opportunities, holding talks with private sector representatives, government, and other decision makers to discuss trade and investment-related issues. The delegation will also look at the next steps to further facilitate business collaborations and means to assist Team Sweden and Team India in the process.

Expressing optimism about the upcoming talks, Trade Commissioner Cecilia Oskarsson said: “In the last few months as Trade Commissioner for Business Sweden in India, I have seen the potential for collaboration and investments substantial. The Indian government has brought most of the key infrastructure sectors in India under the automatic route which allows 100% foreign direct investment (FDI).

“The new master plan aims to boost employment opportunities, make interconnectivity easier between road, rail, air and waterways to boost efficiency, and improve industrial productivity. It also aims to help India become a manufacturing hub, attract foreign investors and raise the possibility of future economic zones through multimodal connectivity that provides manufacturers faster access to domestic and international markets. It’s certainly time to invest in India.”

disaster

Op Jal Rahat-2: Army rescues over 2,500 flood-hit people in Manipur

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Imphal, June 5: As torrential rains and flooding continue to disrupt normal life in Imphal and surrounding areas, the Indian Army and Assam Rifles have been at the forefront of relief and rescue efforts under the ongoing ‘Operation Jal Rahat-II’ relief operation.

A Defence spokesman said on Thursday that since May 31, the Indian Army and Assam Rifles troops have been working tirelessly across multiple flood-affected localities in Imphal East and Imphal West districts, providing critical assistance to the flood-affected population within certain cases, without waiting for formal requisition.

Operating under extremely challenging conditions, the Indian Army and Assam Rifles have evacuated nearly 2,500 civilians to safety during the rescue operation so far.

Major evacuations took place in Imphal’s Wangkhei areas, where 778 individuals were rescued and at government-run Jawaharlal Nehru Institute of Medical Sciences (JNIMS) medical college and hospital, where 750 people, including 15 patients requiring urgent care, were safely evacuated.

Continuing the efforts in Imphal’s Khitai Chingangbam Leikai areas, 110 civilians were brought to safety, while 115 were rescued from Laishram Leikai, the spokesman said.

Rescue teams also evacuated 65 individuals from Lamlong and 75 from Heinjang areas, where operations included navigating through challenging terrain and fast flood stream due to breach in the Imphal River embankment.

He said that at other locations in Imphal East and West districts, an additional 408 people including 179 women and 92 children were extricated.

In a testament to their inclusive and compassionate approach, Indian Army and Assam Rifles personnel also carried out special missions to rescue three specially-abled adults from different locations.

The troops not only rescued stranded civilians but also established a medical camp providing aid to over 400 civilians, simultaneously carrying out defogging operations to mitigate health hazards caused by stagnant water.

Their rapid response helped prevent further deterioration of living conditions and safeguarded the health of the community.

According to the Defence spokesman, the unprecedented floods had left the local population struggling for survival, with clean drinking water becoming an urgent necessity in the flood-ravaged village of Soibam Leikai in Imphal East.

Responding swiftly to the crisis, a team led by an Indian Army Officer reached the village with essential supplies and an unwavering resolve to help.

Recognising the immediate need for safe drinking water, the Army established emergency drinking water distribution points, ensuring that the residents had access to clean and potable water.

Also, 5,750 litres of fresh water was supplied to fulfill the immediate requirement.

The official said that equipped with rescue boats, medical teams and essential relief materials, the Indian Army soldiers have been operating in close coordination with Assam Rifles and the civil administration.

The efforts of Indian Army and Assam Rifles reflect the ethos of ‘Service Before Self’ and unwavering commitment to safeguard the lives of citizens, the spokesman said.

He said that as flood relief operations continue, the Indian Army and Assam Rifles remain fully committed to supporting the people of Manipur during this crisis and would persist in extending every possible assistance to mitigate the impact of the ongoing natural disaster.

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National

Bengaluru stampede: K’taka govt releases details of deceased; families raise questions

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Bengaluru, June 5: The Karnataka government on Thursday released the details of the 11 people killed in the stampede near the Chinnaswamy Stadium in Bengaluru during the Royal Challengers Bengaluru’s (RCB) victory celebrations on June 4.

Among the dead, one hailed from Udumalapet near Coimbatore in Tamil Nadu, and the rest are from Bengaluru and other districts of the state.

According to the details shared by the Chief Minister’s Office, the deceased have been identified as 14-year-old Divyanshi, a resident of Yelahanka in Bengaluru; 26-year-old Akshata Pai, a resident of Karwar; 19-year-old Bhoomik, a resident of M.S. Ramaiah Layout in Bengaluru; 23-year-old Sahana, a native of Kolar; 19-year-old Chinmaya Shetty, a resident of Doddakallasandra in Bengaluru; 20-year-old Manojkumar, a resident of Nagasandra village in Tumakuru district; 20-year-old Shravana K.T., a resident of Kallahalli village in Chikkaballapura district; 17-year-old Shivu aka Shivalinga, a resident of Honigeri village in Yadgir district; 20-year-old Poornachandra, a resident of Rayasamudra village in Mandya district; 29-year-old Kamakshidevi, a resident of Udumalapet near Coimbatore in Tamil Nadu and 22-year-old Prajwal, a resident of Yelahanka New Town in Bengaluru are the deceased persons.

Laxman, the father of deceased Bhoomik (19), stated he was given information that his son was serious and asked to arrive at the hospital. “My son never watched cricket matches, he had gone along with his friends. I was informed that when the stampede occurred, there was no ambulance, and my son was shifted to the hospital in a police vehicle.”

He further expressed his outrage that he pays the government tax up to Rs 5 lakh per month, and the government wasn’t able to provide an ambulance to his son.

Suresh Babu, the father of deceased Sahana (23), stated his daughter informed him that she is going to attend the RCB victory celebrations at noon. “She had gone to the office in the morning, and later she went to the Chinnaswamy Stadium. “I wanted to see my daughter’s marriage and but now I am garlanding her dead body. She completed her engineering studies and worked at Bosch Company in Bengaluru for two years. She never caused us pain. I had asked her to be careful. The system has failed,” he stated.

The mother of the deceased, Prajwal (22), said she had to run from one hospital to another after being informed about the tragedy. She stated that Prajwal was her only son, and being a labourer, she managed somehow to complete the engineering course. “The government has snatched away my only son. Do they know how it feels to lose a son?” she asked.

The state government has announced Rs 10 lakh compensation for the families of the deceased and also ordered a magisterial probe.

The BJP has said that the deaths were government-sponsored murders and demanded the immediate resignation of Home Minister G. Parameshwara.

Taking cognizance of the stampede incident, the Karnataka High Court on Thursday registered a suo motu Public Interest Litigation (PIL) and sought a report from the Congress-led Karnataka government.

The division bench, headed by acting Chief Justice V. Kameshwar Rao, expressed concern over the tragedy.

Social activist Snehamayi Krishna filed a complaint with the Cubbon Park police on Thursday against Chief Minister Siddaramaiah, Deputy CM D.K. Shivakumar, office-bearers of the KSCA, and others. In his complaint, Krishna demanded that the police register the case under Section 106 of the BNS Act.

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International

Trump signs proclamation banning travel from 12 nations

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Washington, June 5: US President Donald Trump has signed a proclamation imposing a travel ban on 12 countries and restricting the entry of seven others to the US, citing national security concerns.

According to the proclamation, the 12 countries that were banned include Afghanistan, Burma, Chad, Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan, and Yemen.

Additionally, the order partially restricts and limits the entry of nationals of the following seven countries — Burundi, Cuba, Laos, Sierra Leone, Togo, Turkmenistan, and Venezuela.

The announcement of the ban followed a recent violent terror attack in Boulder, Colorado, on participants of a peaceful rally calling for the safe return of Israeli hostages from Hamas captivity.

“The recent terror attack in Boulder, Colorado, has underscored the extreme dangers posed to our country by the entry of foreign nationals who are not properly vetted, as well as those who come here as temporary visitors and overstay their visas. We don’t want them,” Trump said in a video statement released by the White House on Wednesday night.

Meanwhile, US Homeland Security officials said that the terror attack perpetrator in Colorado, Mohammed Sabry Solima, was allowed entry into the country under the former Biden Administration and overstayed his visa.

The White House Deputy Press Secretary Abigail Jackson took to social media stating that President Trump is protecting Americans from foreign actors who pose security threats to the country.

“President Trump is fulfilling his promise to protect Americans from dangerous foreign actors that want to come to our country and cause us harm. These commonsense restrictions are country-specific and include places that lack proper vetting, exhibit high visa overstay rates, or fail to share identity and threat information. President Trump will always act in the best of interest of the American people and their safety,” Abigail Jackson said on X.

The recent proclamation echoed a series of travel bans issued during the first term of Trump’s administration to seven majority-Muslim nations from coming to the US.

It included Iran, Iraq, Libya, Somalia, Sudan, Syria, and Yemen. The move witnessed legal challenges before President Joe Biden repealed it after he assumed office in 2021.

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