In an endeavour to further deepen the bilateral ties between the two countries, Sweden said on Tuesday that the country will collaborate with India on its flagship schemes such as Make in India, Smart Cities Mission, Startup India and Digital India.
In a joint statement here, Sweden Prime Minister Stefan Lofven commended the Indian government for its strong focus on innovation and has termed the initiatives as keys to progress and prosperity for India.
Further speaking on innovation partnership between New Delhi and Stockholm, Lofven said, "Sweden will provide 50 million kronas (approx. Rs 40 crore) for innovation corporation with India for the Smart Cities project and for achieving sustainable development. This will also help to facilitate job creation."
He lauded India for taking steps for its unprecedented economic transformation in terms of manufacturing and digital development.
The Swedish Prime Minister added that a joint action plan has been signed between India and Sweden, wherein the two countries will set up common tasks on cybersecurity. Also, he said that the two countries were working on a security arrangement allowing to exchange types of classified information in terms of defence.
Lofven also spoke about the re-launching of the negotiations on investment protection and free trade under the European Union-India strategic partnership for improving the business climate between the two countries.
Prime Minister Narendra Modi is currently on a five-day visit to Sweden, the United Kingdom and Germany.