PUNE: Indian institutions and businesses have a vast potential for absorbing technology developed by their Swedish counterparts in a variety of areas, Swedish ambassador to India Lars-Olof Lindgren told TOI on Saturday.
Sweden invests about 4 per cent of its gross domestic product in research and development and has achieved breakthroughs in many advanced high-tech areas, Lindgren stated.
"We are not a country that jealously guards the technology developed, but would be keen on sharing it with others in the world and move ahead," the Swedish ambassador stressed, adding that Indian research institutions would have a role in absorbing Swedish technology and making it conducive to Indian conditions.
Sweden will give greater preference to private sector companies which are research and development oriented, Lindgren said. "Once the solutions are successful in India, they can be extended to other countries in the developing world."
Swedish companies, the ambassador stated, have great strength in areas such as telecommunications, transportation, pharmaceuticals, automobiles and packaging all of which are relevant to India.
Incidentally, a recent report by the Confederation of Indian Industry has said that bilateral trade between India and Sweden is expected to reach up to $ 5 billion in the next five years. Business between the countries grew almost four-fold to $ 2.7 billion between 2002-03 to 2007-08. India exports a range of manufactured products to Sweden, including iron and steel items, automobiles, and machinery and parts. Imports from Sweden include electrical equipment and machinery.
Lindgren said Sweden's exports to India make up just about 1 per cent of its total exports. There is enormous potential to increase this, he added, with India poised to take a leap in its economic progress in the post-recession times.
Sweden recently liberalised its policy on allowing citizens of other countries to come and work for local businesses. "If a business in Sweden needs a skill that is not available, we will allow it to hire that talent from anywhere in the world, not just India," Lindgren said. He clarified that there are no curbs such as country-wise quota for work visas granted by Sweden.
Source : TOI