Home  /  Daily Current Affairs  /  08-03-2021 / India-Sweden Virtual Summit

India-Sweden Virtual Summit

Posted on March 8, 2021 by admin1  42

In News: Recently, India and Sweden have discussed bilateral issues and other regional and multilateral issues of mutual interest at Virtual Summit.

  • This was the fifth interaction between the two countries since 2015. The PM of India had visited Stockholm in April 2018 for the first India-Nordic Summit.

Key Highlights of the Summit

  • The Prime Minister of India expressed solidarity with the people of Sweden in the wake of the violent attack on 3rd March .
  • Both the leaders underlined that the longstanding close relations between India and Sweden were based on shared values of democracy, rule of law, pluralism, equality, freedom of speech, and respect for human rights.
  • They reaffirmed their strong commitment to work for multilateralism, rules-based international order, counter-terrorism and peace and security.
  • They also acknowledged the growing salience of India’s partnership with the European Union and EU countries.
  • The two leaders reviewed the extensive ongoing engagement between India and Sweden and expressed satisfaction at the implementation of the Joint Action Plan and Joint Innovation Partnership agreed during Prime Minister Modi’s visit to Sweden in 2018.
  • The Prime Minister welcomed Sweden’s decision to join the International Solar Alliance (ISA).
  • The leaders also noted the growing membership of the India-Sweden joint initiative – the Leadership Group on Industry Transition (LeadIT).
  • The two leaders also discussed the Covid-19 situation including the vaccination drive and stressed the need for vaccine equity by providing urgent and affordable access to vaccines across all nations.

Indian -Sweden Relations

 

  • Diplomatic
    • Diplomatic ties between India and Sweden were established in 1949.
    • The two countries enjoy a cordial relationship and excellent cooperation in regional and international fora.
    • Sweden supports India’s membership in the expanded United Nations Security Council (UNSC).
      • Sweden also supported India in its membership of the Missile Technology Control Regime (MTCR) and has extended full support in India’s bid for its pending membership of the Nuclear Suppliers Group (NSG).
  • Political Relations
    • High level contact between the two countries goes back to 1957 when Prime Minister Jawaharlal Nehru visited Sweden.
    • Prime Minister Indira Gandhi visited Sweden to attend the United Nations Conference on the Human Environment in Stockholm in 1972.
    • The first-ever State Visit by the President of India, Shri Pranab Mukherjee, was in 2015.
  • Cultural and Educational Relations
    • Indian music, dance, art, literature, films and cuisine are widely appreciated in Sweden.
    • In the absence of a Cultural Exchange Agreement between the two countries, cultural ties are promoted mainly by local associations and by the Embassy with the support of the Indian Council of Cultural Relations.
  • Trade and Economic

    • India is Sweden’s 19th largest export market and third-largest trade partner after China and Japan in Asia.
    • The main Swedish exports to India are communication equipment, motor vehicles, paper & pulp products, pharmaceuticals, chemicals and engineering products.
    • The main items of Indian exports are garments, textiles, chemical products, food products, and semi-manufactured and manufactured goods.

 

Leadership Group on Industry Transition (LeadIT)

  • It gathers countries and companies that are committed to action to achieve the Paris Agreement.
  •  It was launched by the governments of Sweden and India at the UN Climate Action Summit in September 2019 and is supported by the World Economic Forum.
  • LeadIT members subscribe to the notion that energy-intensive industry can and must progress on low-carbon pathways, aiming to achieve net-zero carbon emissions by 2050.

 

First India-Nordic Summit in 2018

 

  • The Prime Minister of india met with the leaders of the five Nordic countries at the First India-Nordic Summit in 2018 and discussed ways to enhance ties with them.
    • The Nordic countries comprise Denmark, Finland, Iceland, Norway and Sweden.
  • Relevance of Nordic countries
    • The Nordic countries have globally recognised strengths in clean technologies, environmental solutions, ports modernisation, cold-chains, skill development and innovation. Nordic competencies fit well with our vision for India’s transformation.
    • In areas like clean technologies, maritime solutions, port modernisation, food processing, health, life-sciences and agriculture, Nordic solutions can be useful.

International Solar Alliance (ISA)

 

  • It  is a treaty-based intergovernmental organization  of sunshine rich countries set up by India and France
  • It was established during the UN Climate Change Conference in Paris in 2015 and it has 75 signatory countries.
  • It is working to create a global market system to tap the benefits of solar power and promote clean energy applications.
  • Objectives- It paves the way for future solar generation, storage and technologies for Member countries’ needs by mobilising over USD 1000 billion by 2030.
  • The ISA plays a four-fold role in establishing a global solar market: it is an accelerator, an enabler, an incubator, and a facilitator.
  •  It strengthens the climate action in member countries, helping them fulfil the commitments expressed in their Nationally Determined Contributions (NDCs).

Source :AIR

 
Previous article Insurance Brokers Within Ombudsman Ambit
Next article Facts in News