Trade between Sweden and India
Trade and Investments Sweden – India
According to the most recent statistics, Swedish exports of goods to India amounted to SEK 10 053 million in the first eleven months of 2015, which represents an increase of 6.6 percent compared to the same period in 2014. This constitutes approximately 1 percent of Sweden’s total exports and makes India Sweden’s 19th most important market for exports of goods. Chemicals, manufactured goods and articles account for 88 percent and crude materials and mineral fuel for 12 percent of total exports.
Sweden’s imports of goods from India amounted to SEK 5 506 million in the first eleven months of 2015, which represents an increase of 12 percent compared to the same period in 2014. Swedish imports from India constitute 0.5 percent of Sweden’s total imports and makes India Sweden’s 29th most important country in this regard. The greatest share of Swedish imports from India at 92 percent consists of chemicals, manufactured goods and articles. Food, beverages and tobacco are the second most important imported items, accounting for 6 percent of total imports. Sweden’s import of crude materials and mineral funds from India accounts for 2 percent.
Sweden has a long history of investments in India; both Ericsson and Swedish Match established presence in India in the early 20th century. As of today there are around 160 Swedish companies established in the country, of which numerous are Swedish multinational companies such as ABB, Volvo Trucks and Buses, Astra Zeneca, Ericsson, Atlas Copco, Sandvik and SKF. Many of these companies have invested in marketing and sales offices, research and development, manufacturing, distribution and service centres in India. The inflow of Swedish direct investments to India has fluctuated over the years. Accumulated Swedish FDI assets in 2014 totalled SEK 15 billion, which is a substantial increase from SEK 11 billion the year before.
Treaties relating to trade and investments
Sweden and India concluded a treaty for the avoidance of double taxation and prevention of tax evasion in 1997, which was amended on October 1, 2013. Sweden and India enjoy a bilateral investment treaty for the promotion and protection of investments since 2000. India is a member of the World Trade Organization (WTO) since 1995 and is therefore party to agreements within the WTO framework. Since 2007 the EU and India are engaged in negotiations of a free trade agreement.
Link to tax treaty:
Link to bilateral investment treaty: http://www.regeringen.se/sb/d/408/a/11679