After the top Swedish companies, small and medium enterprises (SMEs) from that country are looking to tap the potential in the waste, energy and transportation markets in India. Sweden has a number of very big and large corporations here for long time. Ericsson was here a 100 years ago and in the new phase consumer companies like IKEA and H&M are coming.
At present there are 170 Swedish companies in India that directly employ 185,000 people. While most of the big companies are already here, now the SMEs are seeking to come in.
According to several market experts, with India revising its waste management rules in 2016 after over a decade, a potential $13 billion market has been created. Sweden have experience and expertise in this area and so are now focusing on new materials like recycling textile and plastic and building a solid circular economy based on it.
At present there are three ongoing MoUs with the Indian government on environment, sustainable development, renewable energy and Smart Cities.