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Sweden, South Africa seek investment from India

Sweden, South Africa seek investment from India
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First Published: Thu, Dec 11 2008. 08 22 PM IST
Updated: Thu, Dec 11 2008. 08 22 PM IST
By PTI
Kolkata: Grappling with global economic slowdown, both Sweden and South Africa today asked Indian entrepreneurs to invest in their countries across various sectors.
Swedish ambassador to India Lars-Olof Lindgren at an interactive session organised by CII here said that Indian companies could invest in his country in areas like IT, bio-tech, energy, heavy engineering and pharma among others.
Lars-Olof Lindgren said there was a tremendous scope for improvement for bi-lateral trade between Sweden and India. He, however, did not want to quantify any target.
The bilateral trade between the two countries was just over $2 billion in 2006-07.
“Only 1% of our foreign trade is with India compared to 10% with Norway and 2% with China,” Lars-Olof Lindgren said, adding that there was a great scope for improvement compared to the potential.
Lars-Olof Lindgren hoped that the current economic meltdown would not last for long “as I believe 2010 will most likely be a better year and foresee 2011-12 onwards growth will start taking place.”
Speaking at a FICCI programme, Farida Mohamed, a member of a visiting South African parliamentary delegation, said that her country wanted investment in sectors like mining, IT, ITeS, energy, BPO, bio-fuel and space science among others.
She also invited equity participation and venture capital funds to invest in South African firms.
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First Published: Thu, Dec 11 2008. 08 22 PM IST