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Survey Report Shows India as Major Exports Hub for Swedish Companies

Published On Feb 16, 2016By Prashant Talreja

According to a recent survey, Swedish manufacturing majors view India as a reliable investment destination and exports centre. The survey was conducted by the Swedish Chamber of Commerce India, and it revealed that 70 percent of the Swedish companies see India as a strong anchor for their exports business. The report claimed, “This is against only 30 percent of the companies expressing such sentiment last year.”

These companies have been involved in the Indian business arena since decades, and have contributed to nearly two million jobs in the country. This includes industry majors such as like Atlas Copco, ABB, Camfil, IKEA, Ericsson, SAAB, Scania and Sandvik. The report further said, “The companies also feel that for India to truly take its place in the global value chain, there are key reforms that need to materialize.”

The survey tapped into the views of nearly 141 Swedish companies from various fields including engineering, fashion and lifestyle, and health care. The brands view Maharashtra, Karnataka and the Delhi region as their preferred business destinations. “About 90 per cent indicate that they will focus their investments in states they are already present in, while 30 per cent are looking to expand into 3 new states - Tamil Nadu (10 companies), Rajasthan (8) and Gujarat (6),” the report claimed. It added, “Last year, Odisha, Gujarat, Maharashtra, West Bengal and AP/Telangana were the top states.”

Maharashtra remains the top destination choice for the Swedish, with one in three companies located in the thriving state. The state remains a strategic cornerstone for imports and exports, and offers companies closer contact with business partners. Fredrika Ornbtant, from the Swedish Consulate in Mumbai, said, “Swedish companies in India have a positive business sentiment in doing business here despite a slightly lower figure compared to last year. They continue to invest and expand their manufacturing and operations.”

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