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Increased Swedish confidence in India’s business potential, markets

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4 years ago

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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.”

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Indian city gas distribution firms’ operating profit to rise 8-12 pc this fiscal

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3 hours ago

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November 20, 2025

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New Delhi, Nov 20: City gas distribution (CGD) companies in India are projected to clock an operating profit of Rs 7.2–7.5 per standard cubic metre (scm) this fiscal — up 8-12 per cent compared with the second half of last fiscal when margins dropped because of a sudden and steep decline in gas allocation under the administered price mechanism (APM) for the compressed natural gas (CNG) segment, a report said on Thursday.

Consequently, distributors had to take recourse to the spot gas market for supply, which exerted upward pressure on cost. The companies have, thereafter, transitioned to contracted supplies, which is expected to burnish margins.

“Healthy earnings will keep leverage in check despite the proposed capital expenditure (capex) by companies. Our assessment of seven CGD companies, with 70 per cent share of total sales volume last fiscal, indicates as much,” Crisil Ratings said in its report.

CGD companies get gas on priority at lower prices under the APM from legacy gas fields to serve the domestic CNG and piped natural gas-domestic (PNG-D) segments.

Beyond APM, they procure high-pressure, high-temperature (HPHT) gas and imported regasified liquefied natural gas (R-LNG) under contracted and spot purchase mechanisms.

According to the report, in the second half of the last fiscal, APM gas allocated to the CNG segment was reduced to less than 40 per cent of the total CNG requirement, compared with 70 per cent in the first half of the last fiscal.

This led to a substantial increase in gas procurement costs as companies relied on spot purchases, which were 80-100 per cent more expensive than those under APM prices, to protect against supply disruptions.

As a result, spot purchases by volume rose to more than 15 per cent of total supplies from 5 per cent in the first half of the last fiscal.

“Against the 30 per cent reduction in APM allocation for the CNG segment, CGD companies got 15-20 per cent long-term allocations from domestic new well gas, mainly towards the end of last fiscal or early this fiscal. For the balance, they have signed additional medium- and long-term contracts, mainly for HPHT gas and R-LNG,” said Ankit Hakhu, Director, Crisil Ratings.

This will not only improve gas security but also reduce exposure to the spot market, where prices are 25-30 per cent higher on average, he added.

The report noted that realisations are steady this fiscal, following some increase in the second half of last fiscal when companies implemented price hikes to pass on increased costs to consumers, albeit partially and gradually.

However, some of the benefits of reduced gas procurement costs in the current fiscal year will be offset by an increase in other operating costs. These costs will rise as players continue to incur capex to expand gas infrastructure in existing and new geographical areas (GAs) to support volume growth.

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Groww shares drop over 9 pc, slip below Rs 1 lakh crore market cap

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7 hours ago

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November 20, 2025

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Mumbai, Nov 20: Groww’s share price continued to fall for the second day in a row on Thursday as investors booked profits after the stock’s strong rally last week.

The shares slipped as much as 9 per cent during early trade, touching an intra-day low of Rs 154.10 on the National Stock Exchange (NSE).

This is a 9.29 per cent drop from the previous day’s close.

During early trade, the market value of Billionbrains Garage Ventures — Groww’s parent company — fell to Rs 97,431.70 crore, slipping below the Rs 1 lakh crore mark.

The decline follows Wednesday’s sharp fall, when the stock hit the 10 per cent lower circuit on both the BSE and NSE, ending a five-day winning streak.

It closed at Rs 169.94 on the BSE and Rs 169.89 on the NSE in the previous trading session.

On Wednesday, the exchanges also revised Groww’s price band from 20 per cent to 10 per cent, limiting how much the stock can move in a single session.

The next key event for the stock is on Friday, November 21, when the company will announce its quarterly results — its first earnings report since listing last week.

Earlier, in a filing to the stock exchanges, Groww said its Board of Directors will meet on Friday, November 21, 2025, to consider and approve the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025.

Another important trigger is expected on December 10, when the one-month lock-in period for shareholders ends.

Groww, founded in 2016, is currently India’s largest stockbroker with more than 12.6 million active clients and a market share of over 26 percent as of June 2025.

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Sensex, Nifty Open Flat, Mixed Global Cues & Lack Of Major Domestic Triggers Keep Investor Sentiment Muted

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1 day ago

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November 19, 2025

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Mumbai: Indian stock markets opened flat with a slight negative trend on Wednesday as mixed global cues and a lack of major domestic triggers kept investor sentiment muted. With the Q2 FY26 earnings season coming to an end, traders showed limited enthusiasm, leaving the indices stuck in a narrow range.

The Sensex slipped 81 points, or 0.10 per cent, to 84,592 in early trade. The Nifty also declined, dropping 34 points, or 0.13 per cent, to 25,877. “The broader benchmark Nifty 50 remains range-bound after the prior session, with resistance seen around 26,000–26,050 and near-term support in the 25,800–25,750 band — a potential accumulation zone for positional traders,” experts said. “Given this setup, a selective buy-on-dips strategy remains appropriate — apply tight trailing stop-losses, and book partial profits on rallies,” analysts mentioned.

Tata Motors PV, NTPC, Bajaj Finserv, Eternal and Sun Pharma were among the major drags on the Sensex. However, gains in HUL, Infosys, TCS, Tata Steel, Tech Mahindra, and Trent helped cushion the fall and prevented a deeper decline. In the broader market, the trend remained weak. The Nifty MidCap index slipped 0.06 per cent, while the Nifty SmallCap index fell 0.23 per cent. Sector-wise, the Nifty IT index was the only notable performer, rising 0.62 per cent as technology stocks saw selective buying.

On the other hand, real estate stocks struggled, with the Nifty Realty index emerging as the biggest loser, down 0.5 per cent. Analysts said markets may continue to remain rangebound in the absence of fresh triggers and ahead of global macroeconomic developments expected later this week. “Investors should prioritise safety at this juncture. Safety is in large caps. Large segments of the mid and small cap space are overvalued having been driven up only by liquidity flows from exuberant investors,” analysts said.

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