India and Sweden look to deepen green industrial ties as Delhi eyes net-zero by 2070

Swedish and Indian business leaders have pledged closer collaboration on decarbonising heavy industry, with Stockholm positioning itself as a key technology partner for India’s long-term shift to a low-carbon economy. The third India-Sweden Sustainability Day, organised by Business Sweden and hosted at the Swedish Consulate in Mumbai, focused on “Enabling Conditions for Industrial Net-Zero”. The event emphasised Sweden's continuing appeal for those looking for proven solutions in green steel, smart manufacturing and circular-economy models.

Sweden retained second place in both the 2025 Global Innovation Index and the UN Sustainable Development Report, reinforcing its reputation as one of the world’s most advanced sustainable economies. “India–Sweden Sustainability Day stands as a testament to the shared vision of both nations to turn ambition into action and to deliver long-term value,” said Sofia Högman, Trade and Invest Commissioner of Sweden to India. “Through forward-looking initiatives such as the India–Sweden Green Transition Partnership, we are building an ecosystem where innovation takes centre stage, and sustainability is embedded into every industrial process", she said.

India has committed to reaching net-zero emissions by 2070 and is actively seeking foreign expertise to decarbonise hard-to-abate sectors such as steel, cement and chemicals while maintaining industrial competitiveness. Sven Östberg, Consul General of Sweden in Mumbai, told delegates: “The Sweden-India collaboration is rooted in trust, innovation, and a shared commitment to shaping a greener, more equitable future. Through these efforts, the partnership is setting new global benchmarks in advancing shared sustainability and development goals.”

Agnes Julin, Deputy Head of Mission at the Embassy of Sweden in New Delhi, added: “Sweden has stood with India, stands with India today, and will continue to stand with every stakeholder committed to meaningful, sustainable change. As we look ahead, let us continue to invest, to innovate… and to build the technological, commercial, and cultural bridges that will shape the next chapter of this journey.” Business Sweden, which has supported Swedish companies in India for over 25 years, this year opened a new office in Mumbai to be closer to the financial capital and the industrial cluster around Pune, where dozens of Swedish firms already operate.

The Sweden-India Business Guide 2025 has been launched at the event, with fresh pledges to expand cooperation in circular economy practices, resource efficiency and clean-energy deployment. For Swedish companies, India’s combination of rapid industrial growth and ambitious climate targets represents one of the world’s largest green-market opportunities. For New Delhi, Sweden offers battle-tested technologies and financing models that can help meet sustainability goals without sacrificing economic expansion.