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Sweden woos Indian IT product companies

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CIOL Bureau
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NEW DELHI, INDIA: Sweden is wooing Indian product development companies to invest in the Scandinavian country and also explore as a potential market.

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Talking to CyberMedia News on the sidelines of the one-week tour to India, Tomas Sokolnicki, manager for Information and Communication Technologies (ICT) with Invest in Sweden Agency (ISA) said that the high-level technology delegation was inviting Indian companies to establish base there.

“Sweden acts as a gateway for Indian companies who want to enter the European continent. ISA acts as a single-window for the IT firms who want to invest in Sweden. This visit is aimed at improving cooperation between India and Sweden in the field of ICT and to further the flow of investments between the two countries,” he said.

Sokolnicki said that ISA is ready to provide assistance to Indian companies who want to use Sweden as the expansion base for Europe, to find partners for strategic alliances or investments to strengthen the portfolio.

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“ISA provides comprehensive information on business opportunities in Sweden in key business sectors has the ICT. We provide tailor-made information and practical advice on how to proceed when establishing a business in Sweden. ISA also introduces companies to relevant contacts with Swedish authorities, utility providers, and professional service companies, such as lawyers, accountants, relocation specialists, and recruitment companies. We also help in finding companies for possible joint ventures, acquisitions or other forms of cooperation,” he added.

The Swedish delegation, during its one-week visit visited Reliance Communications, Persistent Systems, IFS India, Sapient Labs, and TCS R&D division, apart from ITC Infotech, Aricent, and Infosys. The delegation will also have discussion with Sequoia Capital for attracting investments to Sweden.

The Invest in Sweden (ISA) is a business and investment facilitator in Sweden, under the ministry of foreign affairs. The agency is responsible for attracting and facilitating foreign direct investment in Sweden. Companies planning to start or expand business operations in Sweden are provided with information and assistance free-of-charge by ISA and its regional and international network.

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