Indian Defence Minister Rajnath Singh has invited Swedish firms to invest in defence corridors in Uttar Pradesh and Tamil Nadu, saying that they can benefit from the unique incentives being offered by the state governments and the availability of a highly skilled workforce in India. 

Stressing that there is a huge potential for more India-Sweden partnerships, he highlighted the strong capabilities of the Indian defence industry in various fields and their willingness to collaborate with Swedish companies for co-development and co-production in areas of mutual interest. a Ministry of Defence statement said. 

“Swedish firms already have a major presence in India. There is a lot of scope for Swedish and Indian defence Industries for co-production and co-development. Indian industry can also supply components to Swedish Industries. Technology-centric FDI policy will enable Indian industries to collaborate with Swedish companies in the field of niche and proven military technologies,” Singh said at a webinar on India-Sweden Defence Industry Cooperation, with the theme Capitalizing Opportunities for Growth and Security,

He said India has a vast Defence Industrial Base with 41 ordnance factories, nine defence public sector undertakings and expanding private sector Industries supported by an ecosystem of over 12,000 Micro, Small and Medium Enterprises, adding that Indian defence industries possess expertise on a wide range of high-tech defence systems for air, land, sea and space applications. 

“India has a robust shipbuilding industry. The ships constructed by Indian shipyards are of global standards and extremely cost-effective. India and Sweden can collaborate in the shipbuilding industry for mutual benefit,” he said. 

On the occasion, an MoU was signed between SIDM and SOFF to promote bilateral defence industrial relations wherein a dedicated Joint Working Group will be formed to take forward mutual objectives.(SAM)