The remarks come ahead of Prime Minister Narendra Modi’s five-nation visit from May 15 to 20, which will include stops in the UAE, the Netherlands, Sweden, Norway and Italy as India continues to strengthen its international partnerships
Former Swedish Prime Minister Carl Bildt has said India’s rising global influence and fast-growing economy are encouraging stronger ties with Europe, with Swedish companies preparing to expand their presence in the country, reported gulfnews.com.
Speaking in Rome, Bildt said regular high-level engagement between India and European nations reflects a relationship that is becoming increasingly important. He noted that cooperation is already strong in several areas and is expected to grow further in the coming years.
According to Bildt, India’s rapid economic progress and growing manufacturing strength have made it a key destination for global businesses. He said companies that want to remain competitive internationally now see India as essential, both as a large consumer market and as a manufacturing base for worldwide exports.
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Bildt also highlighted the importance of the proposed India-European Union Free Trade Agreement, saying Swedish industries are planning to establish operations in India once the deal moves forward
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He added that India’s economy could become as large as Europe’s within the next 15 years if current growth trends continue
On the ongoing crisis in West Asia, Bildt stressed that diplomacy is the only way to resolve tensions. He warned that continued instability in the Strait of Hormuz could seriously affect the global economy. He also called on India to use its diplomatic influence to help ease tensions in the region.
