Despite 2008 global slump, Swedish companies continued to perform well in India. In a survey conducted by the Swedish Chamber of Commerce in India (SCCI) with the Swedish Trade Council and the Embassy of Sweden, nine out of 10 Swedish companies plan to expand their operations in India in 2010-2012.
Results of the third Business Climate Survey report that was released on Wednesday indicates that Swedish companies have, during the world financial crises of 2008-2009, continued to perform very well in India – with growing sales, good profitability and an improved business climate.
According to Lars-Olof Lindgren, ambassador of Sweden to India. ??Globally, companies were downsizing, reducing their stake in foreign countries or even moving out, but in India the companies did extremely well.??
?Swedish business leaders are doing the right thing when they increase their investments in India,? says Mr Fredrik Fexe, Sweden?s Trade Commissioner to India and Head of the Swedish Trade Council. ?India with its continuous and strong growth during the last few years, has taken a position as one of the world?s most important growth engines and will continue to grow during the next 20 ? 30 years.? 124 Swedish companies operating in India were asked to fill in the questionnaire and interviewed at length subsequently. Undertaken annually, the survey is an attempt to understand the confidence of Swedish companies in India.