The meeting comes at a time when the Volvo Group, which makes premium trucks for specialised sectors like mining, buses and construction equipment, is eying long haul of transportation segment in India with GST rollout expected to spur growth in this segment.
Volvo Group has a joint venture with Eicher Motors in India -- VE Commercial Vehicles.
Lundstedt is the latest automotive industry leader to meet Modi.
Earlier this month, Toyota President Akio Toyota and Suzuki Chairman O Suzuki had also met the prime minister.