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Business News/ News / India, Sweden collaborate on reaching green transition targets
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India, Sweden collaborate on reaching green transition targets

A number of specific Memorandums of Understanding (MoUs) covering the fields of energy, environment, urban development, among other areas of shared interest, have been signed between Sweden and India

Several dedicated MoUs have been signed between India and Sweden spanning across energy, environment, urban development among others. (orfonline.org)Premium
Several dedicated MoUs have been signed between India and Sweden spanning across energy, environment, urban development among others. (orfonline.org)

NEW DELHI : To support the exchange of R&D, knowledge sharing and capacity building between Sweden and India, several dedicated MoUs spanning across energy, environment, urban development, amongst other areas of mutual interest have been signed.

As a commitment towards building a green future, a key engine of collaboration, the India-Sweden Green Transition Partnership (ISGTP) is geared up for its launch on 23 November 2022. 

This partnership will enable the six partner Swedish companies of the platform– Absortech, Alfa Laval, Alleima, Hitachi Energy, KraftPowercon and SKF, to join forces with India’s leading corporates across cement, iron & steel and automotive sectors with the objective of contributing to their green journeys. 

Sustainability, Green transition and Innovation serve as key focus areas of the ongoing trade and economic relations between India and Sweden. As joint leaders of the Industry Transition Group, both countries have been dedicatedly committed to drive the heavy industry towards carbon neutrality.

Team Sweden in India (the Embassy of Sweden, the Consulate General of Sweden and Business Sweden) has played a crucial role over the years in building a sustainable tomorrow with India. 

Speaking about the relations between the two countries, Ambassador of Sweden to India, Jan Thesleff said, “For Sweden, a country known globally for its commitment to sustainable living for a better tomorrow, it is encouraging that local Indian companies continue to show their trust in Swedish partnerships. The launch of the Green Transition Partnership is another great example which highlights the need to collectively build a strong, green and clean future for all. The bilateral relations between India and Sweden have progressively strengthened over the past decade and this will further fortify the collaboration between our countries."

In order to facilitate these joint ambitions and commitments, Business Sweden in India along with the Embassy of Sweden, the Consulate General of Sweden and Swedish agencies - Swedish Energy Agency, Vinnova and Stockholm Environment Institute have established the Sustainability by Sweden ecosystem in India. 

An exchange of green technologies and expertise forms the basis of this platform while fostering innovation and co-creation and, enhancement of trade and economic collaborations between Indian and Swedish stakeholders.

Consul General of Sweden to Mumbai, Anna Lekvall mentioned “Team Sweden in India continues to work closely with Swedish and Indian companies, amongst other stakeholders, on the green journey. To share a common goal on environmental sustainability and together realise that vision, we are highly encouraged to see the Green Transition Partnership taking off at this scale. This platform will enable sustainable growth through the implementation of world-class innovations."

An official program to promote green collaborations at an SME level, the India-Sweden Innovations Accelerator was developed a decade ago and has been serving as a catalyst for facilitating transfer of innovative clean technologies & solutions from Sweden to India under the Sustainability by Sweden Ecosystem. The ecosystem has received encouraging support in the form of partnerships with leading Indian conglomerates and institutions of national importance - Mahindra Group, TATA Power DDL, BSES Yamuna Power Limited, Indian Institute of Technology Bombay, Indian Institute of Technology Delhi and Indian Institute of Technology Madras. 

Trade Commissioner of Sweden to India, Cecilia Oskarsson mentioned how “Sweden has traditionally taken giant strides towards co-creation and its innovation, making the country a sustainable and preferred choice for international co-operation. The theme of COP27, Implementation, gives us a chance to make things happen and as pioneers of solutions shaping tomorrow’s sustainable society, we are indeed proud of the coming together with our Indian partners to pioneer the possible through this unique platform of the India-Sweden Green Transition Partnership."

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Published: 14 Nov 2022, 10:38 PM IST
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