India-Sweden Webinar-II: Building New Supply Chain Connections: India, Sweden, and the Nordics

In recent years there has been a significant transformation in political alignments and economic partnerships; the relationship between India and the Nordic region stands out as a promising example of this strategic convergence. As traditional supply chains encounter turbulence, key players like India and Sweden—along with the Nordics as a whole—are consolidating partnerships in existing fields and exploring new cooperation pathways. This is also due to India’s initiative of raising the FDI limit up to 74%, incentivizing foreign original equipment manufacturers to invest and collaborate with local firms.  

As global supply chains reconfigure, India and the Nordics carry the potential to forge a greater partnership which would augment the economic landscape of Eurasia. This promising alliance, anchored by Sweden and India’s joint technological expertise and manufacturing might, represents more than mere commercial opportunism—it signals a strategic realignment. This would assist these regions by reducing their dependency on traditional supply chain networks dominated by giants like China, which is also relevant as brewing tensions between the U.S. and China threaten even this status quo.  

These partnerships come at a pivotal moment. Companies across the globe are aiming to diversify their supply chains beyond traditional hubs, and India’s manufacturing sector has emerged as an increasingly attractive alternative. The country’s “Make in India” initiative, which launched in 2014; considerable investments in the logistic sector and the Good Services Tax, and similar incentive schemes have already attracted Nordic industrial giants. IKEA, for instance, is one such popular Swedish business with deep ties to India; Ericsson, SAAB, ABB, and Volvo have all established significant manufacturing operations in India, creating foundations for further industrial collaboration. India’s vast market and digital ambitions align seamlessly with Nordic expertise in technology and sustainable development.  

This alignment is particularly evident in the digital realm. As India pursues its ambitious Digital India and Smart Cities initiatives, Nordic companies bring crucial expertise in everything from e-governance to cybersecurity. The parties can leverage already existing agreements such as the EU-India Trade and Technology Council as a cooperation framework for strategic technology development, microchip supply, and EU-India interoperability of digital infrastructure, making interactions swifter. The collaboration extends into emerging technologies, with joint ventures in artificial intelligence and machine learning becoming increasingly more important to both regions. Furthermore, certain Swedish companies, such as RISE AI, are also acting brokers for Central Baltic SMEs to access the regional markets of Karnataka, Maharashtra, Delhi, and Telangana.  

Furthermore, the defense relationship between India and the Nordic region, particularly Sweden, has emerged as a cornerstone of this cooperation. Swedish defense manufacturer SAAB recently built the new Carl-Gustaf facility in Haryana, India, -the first foreign-owned fully defense production facility in the country, developed exclusively with FDI, within the framework of the Make in India project. This exemplifies a broader trend toward defense industry collaboration. This supersedes arms sales as it represents a strategic alignment encompassing joint research, technology transfers, and the integration of defense supply chains.  SAAB is also involved in technological support for Indian aircraft (Light Combat Aircraft (LCA) MK2 and Advanced Medium Combat Aircraft (AMCA). The company is also planning to deliver the first Gripen fighter aircraft in 33 months and establish substantial domestic production capabilities in the country, transferring there 100% of its technology, providing a more competitive and detailed plan if compared to the firm’s European competitor in India (e.g. the French Dassault).  

This webinar, second in series, co-organized by the Embassy of India and the Institute for Security and Development Policy (ISDP) in Sweden will explore how this three-pronged partnership could evolve into a model for interregional cooperation. By focusing on areas of mutual strength—supply chains, economic cooperation, and defense collaboration—India and the Nordic countries are building more than just traditional bilateral ties. As the world grapples with questions of supply chain resilience, sustainable development, and strategic autonomy, the India-Nordic partnership might offer valuable lessons in how diverse economies can work together to address shared challenges whilst simultaneously advancing their strategic interests and consolidated partnerships.  

The following key questions will guide the discussion: 

• How can India, Sweden and the Nordic nations leverage their economic complementarities to enhance bilateral trade and investment? 
• How can India, Sweden and the Nordic nations navigate supply chain uncertainties and mitigate risks?  
• How can India and Sweden align their approaches to economic security, particularly in the face of global supply chain disruptions? 
• In what ways can India and Sweden collaborate in emerging technologies such as artificial intelligence, quantum computing, and space exploration? 
• How can Sweden facilitate India’s deeper integration into Nordic-led innovation ecosystems, particularly in sustainability and digital transformation? 
• How can India’s Act East and Make in India policies align with Sweden’s expertise in advanced manufacturing, digitalization, and green technologies? 
• Could minilateral ventures like the Supply Chain Resilience Initiative (SCRI) between India, Japan and Australia serve as a model for India-Nordic engagement? 

By addressing these critical questions, this webinar aims to outline a vision for the future of India-Nordic supply chains, building on a structured and sustainable approach to bilateral cooperation. Supply chains must serve both as conduits of trade and pillars of a stable, secure global order. Creating and sustaining resilient supply chains has been at the forefront of Indian and European economic agendas: It is as much about revitalizing domestic economic dynamism and building new alliances as it is about reducing uncertainty in global supply chains. 

Speakers:

Dr. Per Storm, is the Chief Executive Officer of Mahvie Minerals AB (publ.), a junior mining company in the Nordics. Per Storm is a Docent in the Innovation Processes of the Mining and Steel Industries, holds a Dr.Sc. degree in Industrial management, a M.Sc. in Material Science and Metallurgy all from KTH, and a M.Sc. in finance from Stockholm University. Dr. Storm is a fellow of the Royal Swedish Academy of Engineering Sciences and several professional societies in Sweden and has published numerous papers regarding innovation issues in the Process Industries and regarding mineral and metal economics and management.

Dr. Sari Arho Havrén is currently a Senior Geopolitical Advisor for Business Finland and an Associate Fellow at the Royal United Services Institute (RUSI) in London. She is also a Visiting Researcher at the University of Helsinki. She obtained her PhD in general history in the field of international relations, from the University of Helsinki. Her master’s thesis focused on general history, with a specialization in modern Chinese history, and she holds a minor degree in sinology. Additionally, she is a certified futurist from the Institute for the Future in Palo Alto, California. With 15 years of experience living in China and Hong Kong, she has authored numerous books, articles, and papers on China’s foreign relations, great power competition, and the future of geopolitics. Prior to her current roles, she served as an adjunct professor at the George C. Marshall European Center for Security Studies and as a European-China Policy fellow at MERICS, the Mercator Institute for China Studies in Germany.

Ms. Karolina Lisslö Gylfe is the Secretary General of the NGO, WePlanet in Sweden.  Lisslö Gylfe is an award-winning social entrepreneur. She co-founded two businesses, Greenovate, which sells organic products from local birch sap, and Bee Urban, which offers services for pollinating insects and birds. With Mattecentrum, she helped grow a free service for help with homework in mathematics into the Best Education Website in Sweden. Lisslö Gylfe is trained as a biologist, having obtained a degree from Stockholm University. Ms. Lisslö is advisory board member of Kungliga biblioteket and Teknikkvinnor.

Prof. Gulshan Sachdeva is the Chief Coordinator of DAKSHIN-Global South Centre of Excellence, New Delhi, and a Professor of European Studies at Jawaharlal Nehru University (JNU). He was awarded the Jean Monnet Chair by the European Commission and has coordinated the Jean Monnet Centre of Excellence at JNU. He serves as the Book Series Editor for Europe-Asia Connectivity and Co-Editor of the Asia-Europe Journal. He has led projects for the ADB and Asia Foundation in Afghanistan and has also consulted for the ILO. He has been a visiting faculty at ten European universities. He holds a PhD in Economics from the Hungarian Academy of Sciences, Budapest.

Mr. Rajesh Thomas is the Managing Director at Accenture Nordics, overseeing Growth & Business Development for the Retail, Consumer Goods, and Manufacturing sectors. With over 20 years of experience in the Nordics, Rajesh specialises in driving large-scale business transformations using Technology, Data, and AI across various enterprise functions, supply chain, and customer growth areas to enhance efficiency and reduce costs for clients. Prior to Accenture, Rajesh has been the Nordic Head at Wipro and Tech Mahindra.

Moderator:

Dr. Jagannath Panda is the Head of the Stockholm Center for South Asian and Indo-Pacific Affairs (SCSA-IPA) at the Institute for Security and Development Policy (ISDP), Sweden. Dr. Panda is also a Professor at the Department of Regional and Global Studies at the University of Warsaw; and a Senior Fellow at The Hague Center for Strategic Studies in the Netherlands. As a senior expert on China, East Asia, and Indo-Pacific affairs, Prof. Panda has testified to the US-China Economic and Security Review Commission at the US Congress on ‘China and South Asia’. He is the Series Editor for Routledge Studies on Think Asia.