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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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Sensex, Nifty open higher on positive global cues

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15 hours ago

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October 15, 2025

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Mumbai, Oct 15: Indian stock markets opened on a positive note on Wednesday, taking cues from the upbeat global sentiment.

The Sensex climbed 243 points, or 0.30 per cent, to trade at 82,273, while the Nifty rose 79 points, or 0.31 per cent, to start the day at 25,225.

Commenting on the Nifty’s technical outlook, experts said that though the 20-day SMA stepped in yesterday, to limit the extent of the drop, we prefer to give more weightage to the bearish engulfing pattern, thus acknowledging the prevailing bearish bias.

“Meanwhile, we remain equally prepared to switch sides, if Nifty manages to push beyond 25230. However, we will wait for a break beyond 25330 to play directional upsides,” they added..

Buying was seen across most sectors, with heavyweights like Bajaj Finserv, Bajaj Finance, NTPC, L&T, Power Grid, BEL, Bharti Airtel, Trent, and Asian Paints leading the gains. These stocks moved up by as much as 1.2 per cent in early trade.

However, some pressure was seen in select counters such as Tech Mahindra, Axis Bank, Infosys, and Titan Company, which slipped up to 1.2 per cent.

In the broader market, the Nifty MidCap index gained 0.38 per cent, while the Nifty SmallCap index advanced 0.20 per cent — indicating a positive trend beyond the frontline indices.

Among sectoral indices, Nifty IT and Financial Services rose 0.6 per cent each, while PSU Bank and Realty indices also traded higher — reflecting a broadly optimistic market mood.

Experts said that investors are likely to track global market trends, crude oil prices, and institutional flows for further direction.

“In the current environment of heightened volatility and mixed market cues, traders are advised to maintain a cautious “buy-on-dips” approach, particularly when using leverage,” analysts said.

“Booking partial profits during rallies and maintaining tight trailing stop-losses is recommended to manage risk. Fresh long positions should be considered only if the Nifty sustains above the 25,300 mark,” they added.

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Explained: EPFO overhauls withdrawal rules to boost transparency, ease access for 30 crore members

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1 day ago

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October 14, 2025

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New Delhi, Oct 14: The Employees’ Provident Fund Organisation (EPFO) has restructured its partial withdrawal regulations, combining 13 distinct clauses into three main categories: Essential Needs, Housing Needs, and Special Circumstances. This change aims to make it easier to access provident fund savings.

For the nearly 30 crore members who collectively own a corpus of about Rs 30 lakh crore, the reform aims to make the withdrawal process quicker, simpler, and more transparent.

The revised framework, referred to as EPFO 3.0, has standardised withdrawal limits.

Depending on the goal, members can now access up to 100 per cent of their eligible provident fund balance, which includes employer and employee contributions. However, at least 25 per cent of the EPF balance needs to stay in the account in order to maintain a safety net for retirement.

This implies that members can keep the required balance while withdrawing up to 75 per cent of their total corpus.

Additionally, the new regulations standardise the requirements for services. In the past, there were specific requirements for each type of withdrawal, such as five years of service for housing purposes and seven years for marriage-related withdrawals.

All partial withdrawals are now subject to a single 12-month minimum service period, which streamlines the procedure and removes any ambiguity.

Members will no longer need to provide documentation of their withdrawals under the “Special Circumstances” category, which is a significant relaxation. In the past, withdrawals under this heading required proof of emergencies, such as natural disasters or job loss.

The new clause, which permits members to leave without giving a reason, is anticipated to reduce red tape and expedite approvals.

The EPFO has also increased the withdrawal limits for marriage and education-related withdrawals. Instead of the previous cap of three combined withdrawals, members can now make up to 10 withdrawals for education and five for marriage.

Stricter guidelines for final settlements are also introduced by the reforms, though. In contrast to the previous two-month eligibility window, members can now only apply for an early final settlement 12 months after quitting their job and for pension withdrawal 36 months later.

In the event of a job loss, the 25 per cent minimum balance requirement only applies to partial withdrawals; it does not apply to full settlements.

While it is anticipated that the simplified framework will increase efficiency and transparency, workers who are laid off or have experienced extended periods of unemployment may find it difficult to obtain their provident fund savings immediately during a time when they may need it most, due to the revised settlement timelines.

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Silver hits record high above $52.50 as safe-haven demand fuel rally

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2 days ago

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October 14, 2025

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Mumbai, Oct 14: Silver prices soared to an all-time high above $52.50 an ounce on Tuesday, boosted by a historic short squeeze in London and strong demand for safe-haven assets amid global economic uncertainty.

Spot silver rose as much as 0.4 per cent to $52.58 an ounce in London, breaking the previous record set in January 1980 when the billionaire Hunt brothers tried to corner the market.

Gold prices also climbed to a new record, marking eight consecutive weeks of gains, supported by rising geopolitical tensions and expectations of US interest rate cuts.

The rally in silver comes amid concerns over liquidity in the London market, which has triggered a worldwide rush to secure the metal.

Prices in London are trading at a rare premium compared to New York, prompting traders to fly silver bars across the Atlantic — a costly move usually reserved for gold — to benefit from higher prices.

The premium stood at around $1.55 an ounce on Tuesday, down from $3 last week.

Adding to the squeeze, silver lease rates in London — the cost of borrowing the metal — surged above 30 per cent for one-month contracts last Friday, making it expensive for traders to maintain short positions.

The situation worsened as strong demand from India in recent weeks further reduced available supply, following earlier shipments to New York amid fears of US tariffs.

Experts said the latest surge in both gold and silver reflects heightened market uncertainty.

Gold prices have jumped nearly 60 per cent this year, crossing the $4,100 mark for the first time, supported by geopolitical tensions, rate-cut expectations, and strong buying by central banks and investors.

Key US economic data such as inflation and retail sales are due later this week, but analysts warn that if the government shutdown continues, the release of these reports — including jobs data — could be delayed.

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