The embassy of Sweden in India and the Swedish Chamber of Commerce released the 9th edition of their Business Climate Survey report for India, wherein 65 percent (a massive jump from the only 15 percent in 2013) of Swedish multinationals put India as a favorable destination to do business. This survey reflects the views of some of the biggest Swedish companies such as Ericsson, IKEA, Volvo, Scania, and Electrolux .•
NDTV reports that among the 160 of the 170 companies in India that took part in the survey, 64 percent of them claimed to be satisfied to be doing business in India; 80 per cent of the companies claimed they would be going ahead with their India investment plan as usual. “There are some challenges as well like the bureaucracy. Companies find it difficult to get licenses easily,” Anne Linde, Minister for EU Affairs and Trade, told the publication.
The Economic Times says that the key findings in the Business Climate Survey 2016/17 include:
- The direct and indirect jobs created across the country by Swedish companies in India shows an increase of 20% since 2014
- Goods and Services Tax matters: 3 out of 4 companies say the reform contributed positively to the business climate in India
- 45 Swedish companies are a part of “Make in India”
- 8 out of 10 companies invested as per plans or more last year
- 8 out of 10 say they will increase their investments in the coming years
- 7 out of 10 companies are involved in skills development, either through business operations or community development programs
