Sweden Announces $ 6 Million As Seed Money For Innovation Projects In India


India and Sweden on Tuesday signed a joint innovation partnership and agreed on a joint action plan with a seed money of $ 6 million from here to push PM Narendra Modi’s Make in India initiative besides agreeing to work on a security agreement that would enable intelligence sharing.

Taking forward their defence cooperation including joint production the two sides decided to strengthen their defence partnership. The two countries agreed that the innovation partnership will be a ‘win-win” outcome.

The Innovation partnership will push cooperation in the fields of smart cities, clean technology, universal housing, renewable energy, e-mobility, start-up, waste disposal, space and aeronautics with an objective of creating jobs and sustainable development for Indian citizens, according to senior Indian officials. The partnership was signed after extensive talks between the Swedish PM and Modi, who became first Indian PM to visit Sweden in three decades. Read More…

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