Gandhinagar, Jan 22 (IANS) Swedish companies claim they see a huge opportunity for expansion in Gujarat and are planning an investment to the tune of Rs 800 crore in the state in near future.
"The Swedish and Indian governments have agreed on two-point Action Plan to further the trade between the two countries. The Swedish government wants policies to be made favourable to boost the trade. If these changes are made, there is a potential of generating 250,000 jobs," said Ulrika Sundberg, the Swedish Consulate General of Sweden in India.
The diplomat was speaking to reporters on the sidelines of the Global Trade Show during the three-day Vibrant Gujarat Global Summit which concluded on Sunday.
Sundberg added that Sweden wanted from the Gujarat government policies on the lines of the central government of India's policies "and we also want the Gujarat government to recognise the retail sector as an industry. We also want gender equality in employment".
Olsberg, a family owned Swedish company manufacturing control systems for the movement of construction equipment and machines, will be setting up its first ever plant outside Sweden in Ahmedabad.
"We have acquired a small piece of land of 25,000 square metres on Naroda Road where we will be setting up two factories, one a foundry and the other for electronics. Initially we will be investing around Rs 50 crore and will employ around 50 persons with gender equality," said Stephen Sundquist, the project manager of Olsberg Hydraulics.
"Back home in Sweden we have three plants with an annual turnover of 22 million euros but there is no more capacity to grow. So Gujarat is the best option to set up our first plant outside the country.
"We expect a huge growth in our entire range of production to cater to the needs from the local Indian market as well as for exports to South Asia and Europe as well as other countries," added Sundquist.
Another company, Sandvik, which manufactures stainless seamless tubes, has a factory on the Mehsana Road.
"Ours is an export oriented unit. But since last few years we have shifted our focus to the local market as well. We have plans for expansion by acquiring a nearby factory," said Nitin Chaudhary, the vice president of Sandvik Asia.
He said his company had an annual turnover of around Rs 400 crore.
Perstorp, a world leader in speciality chemicals for industrial applications, will be setting up its first plant in Asia at the Saykha Gujarat Industries Development Corp (GIDC) in Bharuch.
"We will be investing around Rs 520 crore for the plant, which will create 150 direct and 400 indirect employment. Our speciality chemical used for industrial coating has 60 per cent market in India and the rest will be exported," said Divakaran Kaiprath, the Managing Director and the project director, Perstorp Chemicals India Pvt Ltd.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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