Swedish companies have been operating in India for over 120 years, with a surge in the last twelve years, when more than a hundred companies have entered India.
Out of the 214 companies that participated in this survey, 86 per cent perceive the business climate encouragingly as good/very good. As the business landscape in India rapidly evolves, Innovation, Digitalisation and Green Transition will be the key pillars of India’s economic growth amongst the many common binding areas of interest to the companies.
Between 2015 and 2020, Swedish companies invested US$ 1.7 billion in India. Also, in the past three years, multiple Swedish companies infused huge investments and opened manufacturing facilities in the country. For over 44 per cent of respondents, marketing and sales form a key focus of their local operations in India. Sourcing and trading and R&D are two areas where we have been seeing increasing focus recently.
All the participating companies (100 per cent) in the survey rated public affairs in India to be of the highest importance when it comes to maintaining competitiveness in the market. In the Indian context, the public affairs scope helps companies learn about the directional governmental policy, which is very helpful in formulating growth strategies for the country.
Sweden continues to rank highly when it comes to innovation, sustainability, and developing high-quality products. Of the participants in the survey, 97 per cent reported that the Swedish brand contributes Much/Very much to their business in India.
Please download the report to fully overview the results with a detailed analysis.
ABOUT THE SURVEY
The Business Climate Survey is a proven tool used by Team Sweden to gain insight into the current business environment, map opportunities, and highlight challenges being faced by Swedish companies while doing business across the world.
Spearheaded by Business Sweden and the Swedish Chamber of Commerce India, Team Sweden in India carried out this survey in March-April. All of the 261 Swedish companies in India were invited to participate in this survey, and 214 companies responded to the survey, resulting in a response rate of ~87 per cent.
Thank you to all of you who took the time to participate in the survey and contributed with your thoughts and experience. And we trust you will find this report will serve as a valuable as well as an informative tool.