Pune: Swedish Chamber of Commerce India in partnership with the Consulate General in Mumbai, Embassy of Sweden in New Delhi and Business Sweden, conducted a presentation and launched the 7th Business Climate Survey that brings to light the experience of doing business in India as perceived by the Swedish business community. It provides an insight to expectations and perceived risks for the future. It captures the input from 110 Swedish companies established in the country from sectors such as IT/Telecom, Automotive, Service sector, Engineering products, Defense, Direct Sales and Retail.
Swedish companies have been present in India for decades and generate almost 150,000 direct jobs in India and four times that indirectly. With the launch of the “Make in India” program by the Government of India in September 2014, priority is set on promoting ease of doing business and economic growth. The vision is to make India the next global manufacturing hub. The Business Climate Survey is an important input to the discussion on how to materialize this vision through increased investments and business in India
Parag Satpute, Country Manager Sandvik and Board of Director the Swedish Chamber of Commerce India said,“That Sweden ‘makes business in India’ is clear and it is encouraging to see that 3 out of 4 companies have increased their investments in 2014 regardless of the negative outlook earlier years. Going forward I think we will see the footprint of the Swedish business community increase further. The type of business we represent; sustainable, innovative and with a long-term perspective, is what is needed in India today.”
Ms. Fredrika Ornbrant, Consul General of Sweden, Mumbai said “There is a positive shift in the perception of Swedish companies about investments and expanding their operations in India as it is evident in the results of the Business Climate Survey 2014-15. 90 per cent of the companies surveyed believe India’s business and investment climate is favourable, (compared to 51 per cent in 2013) and expect it to improve in the coming three years. This shift in perception can be mainly accredited to the initiatives undertaken in India to provide a reliable and foreseeable business environment.”
Several companies are investing in manufacturing, product development and R&D and 8 out of 10 indicate they will invest further in the coming three years.
