Prime Minister Narendra Modi on 18 May addressed the European Round Table for Industry (ERT) in Gothenburg, Sweden, declaring that the partnership between India and Europe “is not limited to economic figures only” but is “guided by common values, democracy and diversity.” The address, delivered at an event hosted by the Volvo Group, brought together senior European industry leaders alongside representatives from leading European and Indian companies.

Key Developments at the Gothenburg Summit

Swedish Prime Minister Ulf Kristersson and European Commission President Ursula von der Leyen were present at the interaction. Prime Minister Modi also held a bilateral meeting with both leaders on the sidelines. The forum served as a platform to reinforce India’s case as a preferred destination for investment, manufacturing, and technological collaboration.

Notably, Modi welcomed the conclusion of negotiations on the landmark India–EU Free Trade Agreement, describing it as “a transformative economic partnership that would create new opportunities in trade, technology, manufacturing, services and resilient supply chains.” Von der Leyen has previously called the agreement the ‘mother of all deals’ — a characterisation Modi cited approvingly from the podium.

What Modi Proposed to European Industry

In his keynote, the Prime Minister put forward a series of concrete proposals for deepening India-Europe industrial ties. He suggested holding an India-Europe CEO Round-table annually, forming sector-specific working groups, and establishing an India Desk at the ERT to streamline engagement. He also proposed creating an institutional review mechanism to ensure timely completion of jointly identified projects.

Modi outlined five priority areas for partnership: telecom and digital infrastructure (spanning 5G to 6G and AI-enabled networks); AI, semiconductors, electronics, and deep tech manufacturing; green transition and clean energy including green hydrogen and nuclear power; infrastructure, mobility and urban transformation; and healthcare and life sciences, covering vaccines, cancer care, digital health, and medical devices. Companies including ASML, NXP, SAP, Capgemini, Philips, Nestle, and Unilever were directly referenced as partners with existing or growing India ties.

India’s Investment Pitch

Prime Minister Modi reiterated India’s “Design for India, Make in India and Export from India” vision, underscoring the country’s status as the third largest startup ecosystem in the world. He pointed to FDI reforms, Production-Linked Incentive (PLI) schemes across electronics, pharma, auto components, solar modules, telecom, and textiles, and improvements in ease of doing business as structural enablers for European capital.

“India has talent, scale, demand and stability,” Modi said, adding that India’s rapidly expanding digital public infrastructure, young workforce, and next-generation economic reforms make it one of the world’s most attractive investment destinations. He also flagged the India-Middle East-Europe Economic Corridor (IMEC) as a connectivity project that adds fresh value to the India-Europe business relationship.

Strategic Context: Why This Moment Matters

The Gothenburg address comes amid a broader recalibration of global supply chains, with European industry actively seeking trusted alternatives to over-concentration in any single geography. India’s pitch — anchored in democratic governance, a large domestic market, and improving regulatory predictability — is calibrated precisely for that moment. This is the first major India-EU industry engagement following the conclusion of FTA negotiations, lending the forum added diplomatic weight.

Modi emphasised that talent mobility, education, and skill partnerships must accompany economic cooperation. “The government can only provide framework support and policy direction,” he said. “Real change on the ground level will be possible only through your efforts.”

What Comes Next

The immediate priority, according to the Prime Minister, is the swift conclusion of the India-EU Free Trade Agreement. Sector-specific working groups and the proposed annual CEO Round-table, if formalised, would mark a structural upgrade in how India and Europe coordinate at the industry level. With both sides having set what Modi called “an ambitious and strategic agenda” at the government level, the pressure now shifts to implementation.