By FMTeam Did you know that there is a bilateral trade agreement between India and Sweden? And yes, just recently, back in 2022-23, this trade crossed the $2.5 billion mark, which in itself is a huge achievement for both nations. Sure, there is a big role of big companies or businesses from both sides, but talking specifically about the Indian market, do you know that there are many Swedish companies that have a significant market share here? Well, it could be that you are a customer of these companies but never knew these are actually Swedish companies, you know? Well, that’s the very reason we are here with a list of the top Swedish companies in India. So, let’s get to the list.
1. Volvo Group
Volvo Group is not only about elegant vehicles, did you know? Since 1996, this Swedish company has been a major actor in India, having a significant impact on construction equipment, buses, and trucks too. Their Bangalore IT Competency Center isn’t just a place where coding is done or some software-related tasks, nah, instead it is humming with ideas in electromobility and robotics, you know? Not least of all is CampX, their innovation center dedicated to helping startups generate fresh ideas. Without a single doubt, Volvo has long been a big name in India for various reasons, and in the last year, precisely in the first 9 months of FY23, this very Swedish company was an increase of as much as Rs 4,250 crore.
2. Ericsson
With its innovative 5G technology, Ericsson is constructing in India a future whereby your internet is blazing fast and your video conversations never lag. From the days of 2G to the fascinating 5G era, this telecom giant has been essential for India’s communication development. For those who don’t know, Ericsson not only supplies the infrastructure running your preferred apps but also collaboratively develops original 5G use cases with Indian colleges and technology enterprises. Being India’s second-largest Ericsson market, the Indian market is sure witnessing huge amounts of investments as well as creative ideas pouring in.
3. IKEA
For Indian homes, IKEa is the go-to for chic yet reasonably-priced home furniture, you know? But despite being a foreign brand, IKEA is known to use local sources and to fulfill all things furniture-related or anything like that. This is about combining Indian workmanship with world elegance, not only about cost-cutting, you know? Talking about their growth right here, well, having first set foot in India in 2015, IKEA has grown quickly to have 64 outlets in big cities. And have you even heard of their recent big shopping center plans for cities like Gurugram and Noida to provide that enjoyable IKEA experience? Yes, that’s also coming.
4. Atlas Copco
Though Atlas Copco is not a very famous name in the country right now, its influence on India’s manufacturing industry sure is quite appreciable. And why’s that exactly? Well, this company has been a pillar in the supply of basic industrial tools and equipment since 1960. And have you heard of their recent Talegaon plant in Pune, driven mostly by solar energy and built with water-saving technologies? Yes, that’s not only a plan, that’s just evidence of how much belief Atlas Copco has in the Indian market.
5. H&M
See, if you want stylish yet quite affordable Western-style clothing options right here in India, H&M is for sure one of the top choices of millions in the country right now. With 64 locations all throughout India, H&M has become a mainstay for fashion-forward young people of India since launching its first one in 2015, you know? H&M distinguishes itself by deftly combining online and offline buying experiences to appeal to GenZ and more social-media-inclined customers.
6. SAAB
Regarding military and aerospace, SAAB is towering with its innovative technology and important Indian partnerships, did you know that already? Manufacturing the sophisticated Carl-Gustaf M4 system, their new production plant in Haryana represents a major turning point, that’s for sure. This benefits India’s “Make in India” program, therefore promoting local knowledge and manufacturing right here in India. Beyond production, SAAB’s collaboration in building surveillance radars with Bharat Electronics Limited highlights their entire innovative approach.
7. AstraZeneca
The 45-year journey of AstraZeneca in India is evidence of their dedication to enhancing healthcare, you know? Emphasizing cutting-edge disciplines like artificial intelligence and data analytics, the growth of their Global Innovation and Technology Center (GITC) in Chennai sure marks a revolution. Deep awareness of local healthcare demands by AstraZeneca combined with strong manufacturing and distribution systems guarantees that all may access modern healthcare solutions.
8. Electrolux
With energy-efficient technologies, Electrolux’s products, from freezers to air conditioners, are meant to be sustainable and that’s what Indian customers like the most. Their very Delhi Experience Center is more than simply a showroom; it’s a place where customers may personally engage with the brand’s cutting-edge products. All in all, in our opinion, India’s rising middle class and their need for dependable, contemporary appliances are driving this resurgence.
9. SKF
SKF in India is about precision engineering supporting many other sectors, not only about bearings. The company’s recent expansion, which is characterized by higher income and improved operational effectiveness, showcases its incredible importance in India’s industry. And yes, the way SKF has entered fast-growing sectors like robotics and the food and beverage sector shows clearly their emphasis on innovation.
10. Tetra Pak
In India, we literally think Tetra Pak is the name for the unique packaging we all use right here, but that’s not the case, it is actually the name of the company that made that packaging style famous all around the globe. And talking about something recent about this very company, you see, their advanced factory in Chakan, Pune, is literally the evidence of their dedication to premium, environmentally friendly packaging. All in all, it’s not just the story of India, you see, Tetra Pak meets a wide spectrum of food and drink needs, from dairy to plant-based beverages, with the ability to create approximately 16 billion carton packages yearly.
Conclusion
There you have it! These are by far the biggest and leading Swedish companies in India that are keeping up the good work and offering top-notch things in the Indian market, that’s the reason people in India value these companies. Alright, that’s all for now, we’ll meet you in the next one, that’s for sure.