Sweden's ties with India: a Joint Innovation Partnership, LeadIT and trade worth billions

Background

The Embassy of India in Stockholm sets out the current state of India-Sweden relations. Trade in goods between the two countries rose from USD 2.86 billion in 2016 to USD 7.75 billion in 2025. A Joint Innovation Partnership was signed during Prime Minister Modi's 2018 visit to Sweden, and in May 2026 the two leaders agreed to launch an upgraded Joint Innovation Partnership 2.0. The first India-Nordic Summit was held in Stockholm in April 2018, the second in Copenhagen in May 2022 and the third in Oslo in May 2026. India and Sweden jointly launched the Leadership Group on Industry Transition, LeadIT, with the World Economic Forum at the UN Climate Action Summit in New York in September 2019; its membership stands at 51, comprising 19 countries and 32 companies, with the Stockholm Environment Institute as Secretariat. The Indian diaspora in Sweden is estimated to be over 91,600.