National, 21st March 2025: Business Sweden’s new office in Mumbai was officially inaugurated on March 18 by Sweden’s Minister for Foreign Affairs, Ms. Maria Malmer Stenergard, and Business Sweden’s CEO, Mr. Jan Larsson.
Business Sweden, the Swedish Trade and Invest Council, is expanding its operations in India by establishing a new office in Mumbai. This strategic move aligns with the Swedish government’s increased focus on trade relations with Asia and marks Business Sweden’s continued commitment to fostering trade and investment between Sweden and India.
With India projected to become the world’s third-largest economy by 2030, Swedish companies are increasingly drawn to the market.
“India consistently ranks among the top three global markets in terms of business climate for major Swedish companies. This underscores the significance of the world’s most populous market for Swedish enterprises. By opening our third office in the country, we are reinforcing our already strong presence in India. This sends a powerful message to both the Indian and Swedish business communities about the vast and growing potential in trade between our nations”, said Jan Larsson, CEO, Business Sweden.
Today, nearly 300 Swedish companies operate in India, employing 200,000 people directly and 2.2 million indirectly. Of these, over 100 are located in the Western states of Maharashtra, Gujarat, and Goa. Meanwhile, 70 Indian companies have invested in Sweden to date, generating 7,000 direct jobs.
“Right from the 1960s, major Swedish businesses like SKF, Sandvik, Tetra Pak, Alfa Laval, and Atlas Copco were established on the outskirts of Pune. Swedish interest in the region has only grown and fortified. Today, it is a new age when tech companies like Spotify, Storytel, Lektus, GoMo & Spolto are thriving in Maharashtra and Gujarat with serious expansion plans,” Swedish Consul General in Mumbai, Sven Östberg, highlighted.
Sofia Högman, Trade Commissioner and Country Director for Business Sweden in India, emphasized the increasing interest in the Indian market:
“The demand for support in India is immense, and we are now even better positioned to help Swedish companies seize business opportunities across key sectors, including healthcare, infrastructure, the green transition, and manufacturing. At the same time, we can assist more Indian companies in investing in Sweden and creating jobs.”
Business Sweden already operates offices in Delhi and Bengaluru. The addition of the Mumbai office strengthens Business Sweden’s proximity to India’s financial capital and the industrial hub of Pune, Sweden’s long-standing business stronghold in the country.
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