As the COP 29 climate summit approaches, India and Sweden are accelerating their collaboration on industrial decarbonization and green transition initiatives. The India-Sweden Innovation Day 2024 on Oct 15, 2024 served as a platform for both countries to reaffirm their commitment to sustainability, with plans to present tangible progress at COP 30, where the Prime Ministers of both nations will meet.
The 11th edition of the event, themed “Accelerating Green Growth for Inclusive Transition,” drew together thought leaders, policymakers, and innovators from both nations. Their goal: to address global challenges through joint innovation and position India and Sweden as key players in the global fight against climate change. The event began with a session titled “Co-Creating the Future,” where experts from both sides discussed how technological collaboration is key to driving change ahead of the pivotal COP meetings.
Joint Innovation: A Key to Global Leadership
Highlighting the potential for cooperation, Dr Jitendra Singh, India’s Minister for Science and Technology, pointed to the high innovation rankings of both nations. “Sweden ranks 2nd among 39 European economies, while India leads in Central Asia and ranks 39th globally on the Global Innovation Index,” he noted. “This showcases the enormous potential for joint research and industrial entrepreneurship between our countries.”
Ebba Busch, Sweden’s Vice Prime Minister and Minister for Energy and Enterprise, highlighted the powerful synergy between the two nations. “India’s dynamic startup ecosystem and Sweden’s global leadership in innovation make us formidable partners as we advance toward net-zero goals,” Busch said, praising India’s growing influence in the green technology space. With over 75,000 startups and 100 unicorns, India’s young population and rapidly expanding economy offer fertile ground for groundbreaking developments.
Driving Industrial Decarbonization: Key Priorities for COP 29
The keynote speeches delivered by Busch and Singh underscored the significant role of the India-Sweden partnership in advancing industrial decarbonization. The two leaders outlined a detailed roadmap, focusing on immediate actions in the lead-up to COP 29 and a longer-term vision for lasting results at COP 30.
A panel on “Green Growth with Inclusive Transition” further explored how to integrate sustainability into industrial processes, particularly in sectors like manufacturing. Both public and private sector leaders emphasized the importance of building an inclusive green economy. Additionally, discussions covered advances in biotechnology, which offer solutions to global challenges in sustainable food production and clean energy.
Strategic Alliances in Green Innovation
The 2024 Innovation Day also celebrated the strong ties between business organizations such as the Sweden-India Business Council (SIBC) and the Confederation of Indian Industry (CII). These institutions play a pivotal role in fostering closer business relations and facilitating joint innovation projects. The contributions of these organizations ensure that businesses in both nations are prepared to lead on issues such as clean energy and sustainable urbanization.
Tanmaya Lal, Secretary West at India’s Ministry of External Affairs, underlined India’s growing stature in the global innovation landscape. “India ranks among the top nations in fields like AI and biotechnology. Our collaboration with Sweden in these areas is vital for addressing the pressing global challenges we face,” Lal said.
Jan Thesleff, Sweden’s Ambassador to India, echoed these sentiments, praising the joint efforts of Indian and Swedish researchers, entrepreneurs, and innovators. “Together, we are working on various initiatives to achieve a greener future, focusing on areas like the circular economy and sustainable development,” Thesleff remarked.
Sweden and India: Leaders in Clean Energy Transition
With the rising demand for sustainable energy solutions, both India and Sweden are emerging as leaders in the global energy transition. Sweden’s long-standing reputation for renewable energy and sustainability is complemented by India’s technological capabilities and focus on green solutions. According to Caroline Asserup, Interim Director General of the Swedish Energy Agency, Sweden’s partnerships with Indian public sector entities have been instrumental in addressing energy challenges across different levels of governance.
Ludvig Lindström, Senior Advisor at the Swedish Energy Agency, reflected on the growth of the India-Sweden Innovation Accelerator Program. “Since 2009, our collaboration has resulted in over 250 joint projects. These efforts are now driving direct contributions to global climate goals,” Lindström said.
Innovating for a Greener Future
A significant takeaway from the discussions was the growing importance of sustainability in business operations. Kamal Bali, President and Managing Director of Volvo Group India, pointed out, “Competitiveness and sustainability are no longer separate concepts. To thrive in today’s market, businesses must embrace sustainability as a core principle.”
Robin Sukhia, CEO of the Sweden-India Business Council, emphasized the importance of transitioning from collaborative research to joint product development. “We have moved into the next phase of our partnership—creating market-ready solutions together,” Sukhia noted, highlighting the deepening ties between India and Sweden in green innovation.
Paving the Way for COP 30
With COP 29 just around the corner, both India and Sweden are poised to introduce collaborative frameworks and policies aimed at advancing green manufacturing, energy efficiency, and sustainable urbanization. Over the next year, the two countries will work to turn their strategies into actionable results, aligning with the global push to mitigate climate change and decarbonize industries.