In the recent light of events, on October 26, 2021, India and Sweden marked their 8th Innovation Day. This day was dedicated to fostering and accelerating the Green Transition between the two nations.
Green Transition: A Collaborative Approach to Combat Climate Change
India is ambitiously progressing to not only meet but surpass its Paris Climate commitments. Similarly, Sweden has set an ambitious goal to achieve net-zero emissions by 2045 and follow with negative net emissions. Both countries are part of the Leadership Group for Industry Transition, an initiative led by the United Nations. This partnership reaffirms their commitment to innovation, as seen with the launch of Hybrit Green Steel, a low carbon footprint steel production method. The steel industry is responsible for nearly 30% of global greenhouse gas emissions, making this a significant step towards combating climate change.
Science, Technology and Research: Fueling Innovation
The collaboration between India and Sweden in the field of innovation stems from their joint agreement, the India Sweden Innovation Partnership and the Joint Action Plan (JAP) signed in 2018. This partnership focuses on smart city development, innovation, and advanced transportation. Furthermore, the Department of Biotechnology in India is actively involved with Swedish partners on various programmes such as Incubator Connect, Digital Health Care and Global Bio India, further enhancing the partnerships in biotechnology.
Circular Economy: A Resourceful Approach
Both nations have initiated a new joint call on circular economy, incorporating themes like health science and waste-to-wealth. The circular economy model encourages reusing products over extracting new resources, promoting sustainability and resource conservation.
India – Sweden Relations: A Historical Perspective
Established in 1948, diplomatic relations between India and Sweden have steadily strengthened over decades, with political engagement and multilateral cooperation at the forefront. Sweden has engaged with India in various multilateral capacities, including nuclear disarmament issues, joint statements on humanitarian affairs at the UN General Assembly, and as part of the Arctic Council.
Economic and Commercial Relations: A Growing Affiliation
Sweden is India’s third-largest trade partner in Asia after China and Japan. This relationship has seen a steady increase in goods and services trade, from 3 billion USD in 2016 to 4.5 billion USD in 2019.
Defence and Aerospace Collaboration
The Sweden-India Joint Action Plan, set in motion in 2018, pinpoints collaboration opportunities in space research, technology, innovation and applications, highlighting the depth and potential of their strategic alliance.
Way Forward: Strategic Partnerships and Shared Progress
As a member of the European Union, Sweden can play a crucial role in strengthening India’s ties with the EU and its member countries. The continued consolidation of strategic interests between New Delhi and Stockholm, initiated during the March 2021 summit, promises regional and global advancements, particularly in defining the post-Covid-19 geopolitical landscape. As India prepares for the G-20 presidency in 2023, this partnership could potentially have broader implications.
Source: PIB
