“Forging Digital Frontiers: Karnataka-Sweden Industry Collaboration can pave the way for Innovation and Sustainability”

Bangalore, 20 February 2024: Confederation of Indian Industry (CII) in partnership with the Embassy of Sweden organized a Special Session with H E Tobias Billström, Minister for Foreign Affairs, Government of Sweden. The Honourable Foreign Minister of Sweden engaged with the captains of Indian Industry based in Karnataka on business opportunities between Sweden and India with a focus on innovation and digitalization.

Addressing industry delegates at Bengaluru, H E Mr Tobias Billström, Minister for Foreign Affairs, Government of Sweden spoke about ”India is an important partner for Sweden, not least through the nearly 280 Swedish companies active in the Indian market. There is impressive growth and rapid technological development in India, which is highly relevant for Swedish companies. Bangalore serves as a hub for the emerging India and I look forward to strengthening the contacts there”

Mr Kris Gopalakrishnan, Past President CII & Co-Founder Infosys & Chairman Axilor Ventures highlighted that Karnataka, with its robust startup ecosystem, strong institutions of technology and research and tech led innovations across sectors, is recognized for its leadership in the digital and technology space. The Indian IT & innovation sector, currently valued at around 100 trillion and 25 billion, is projected to reach 100 trillion in the next 25 years. He emphasized the need for partnership in areas of AI, ML and IoT and principles of governance, data privacy and ethics to guide the way forward on new innovations and technology collaborations for solutions to the most challenging and pressing issues faced across social, environmental or economic dimensions globally.

 H E Mr Jan Thesleff, Ambassador of Sweden to India drew special emphasis on India and Sweden being united in common ambition to make the world smarter and more sustainable by cooperating in areas that both were good at – advanced technology, innovation, digitalisation, life sciences and sustainability – to name but a few.  Ambassador further stated that the foreign minister’s visit to Bangalore today will focus on some of the strengths of both Karnataka and Sweden such as technology, AI and space cooperation.

 Mr Vijaykrishnan Venkatesan, Chairman, CII Karnataka State Council, in his opening comments shared “Cultivating a transformative synergy between Karnataka and Sweden in the realms of digitalization and innovation embodies a strategic alignment of diverse expertise, visionary leadership, and shared commitment for harnessing technological advancements towards global progress. As these two dynamic ecosystems converge, they illuminate pathways to unprecedented collaboration, where the exchange of ideas, talents, and resources fuels the emergence of pioneering solutions to complex challenges. Together, Karnataka and Sweden stand at the forefront of a new era, where the fusion of creativity, ingenuity, and strategic partnership not only drives economic growth but also shapes a more inclusive, sustainable, and prosperous future for generations to come.”

Mr N Venu, Vice Chairman, CII Karnataka State Council & Managing Director & CEO – India and South Asia, Hitachi Energy stated, “In our collaborative pursuit of sustainable development goals, Sweden and Karnataka are coming together to nurture students, encourage relentless research and development and ignite the spirit of entrepreneurship. With innovation and digitalization as guiding lights, we seek to illuminate pathways for inclusive growth and progress, fostering a dynamic ecosystem where talent, ideas, and partnerships flourish.

The session highlighted the need for building stronger partnerships between Karnataka and Sweden with a focus on

1. Maximizing the potential of data utilization to drive mutual advancement and prosperity across sectors.
2. Advocating for the ethical integration of digital technologies, emphasizing privacy, security, and responsible practices.
3. Facilitating extensive collaboration within the ecosystem, fostering joint ventures, research endeavors, and knowledge exchange initiatives to foster innovation and sustainable development.

With over 280 Swedish companies in India, including 60 headquartered in Karnataka, sectors of strong presence encompass manufacturing, engineering products, telecom, life sciences, medical technology, healthcare, environmental technology, and automotive.

Over 100 prominent industry leaders, academia, startups, and entrepreneurs attended the session. Their presence underscored the potential for collaboration between Karnataka and Sweden in driving innovation, fostering partnerships, and advancing key sectors such as technology, healthcare, life sciences, clean technologies, R&D and skilling.