On May 17, 2026, Prime Minister Narendra Modi addressed an assembly of Europe's most influential corporate leaders in Gothenburg, Sweden, presenting a direct challenge for increased investment in India. The occasion was the European Round Table for Industry (ERT), co-hosted by Swedish Prime Minister Ulf Kristersson and European Commission President Ursula von der Leyen, marking a significant diplomatic and business engagement.
Modi called on the chairmen and CEOs of major European corporations, including Airbus, Shell, Ericsson, and Roche, to commit to at least one new, bold project in India within the next five years. He assured them of the Indian government's full support for every initiative.
Five Strategic Sectors for Collaboration
The Prime Minister outlined a clear framework for enhanced India-Europe industrial collaboration, highlighting five priority sectors for specific and concrete commitments:
- Telecom and Digital Infrastructure: Focusing on the transition from 5G to 6G, AI-enabled networks, and comprehensive digital inclusion.
- AI, Semiconductors, and Deep-Tech Manufacturing: Positioning India as a global, end-to-end technology hub.
- Green Transition and Clean Energy: Encompassing hydrogen production, electric vehicles, advanced energy storage solutions, and broader decarbonisation efforts.
- Infrastructure, Mobility, and Urban Transformation: Including aerospace, green steel initiatives, logistics improvements, and defence manufacturing.
- Healthcare and Life Sciences: Covering advancements in vaccines, cancer care, digital health solutions, and medical device manufacturing.
India's Economic Strength and Reforms
PM Modi underscored India's robust economic credentials, noting its status as the world's fastest-growing major economy, with a population of 1.4 billion and the third-largest startup ecosystem globally. He detailed the extensive reform journey of the past 12 years, citing key policy changes such as the Goods and Services Tax (GST), the Insolvency and Bankruptcy Code (IBC), corporate tax reductions, Production-Linked Incentive (PLI) schemes, liberalised Foreign Direct Investment (FDI) policies, and a significant reduction in regulatory compliance burdens.
Formalizing Future Partnerships
Beyond the immediate investment pitch, Modi also proposed institutional mechanisms to foster a sustained India-Europe business relationship. These included:
- An annual India-Europe CEO Roundtable, engaging industry bodies from both regions.
- Sector-specific working groups designed to fast-track collaboration in identified priority areas.
- An ERT India Desk or India Action Group to support existing companies in India and facilitate new market entrants.
- Government-backed institutional reviews of flagship projects to ensure timely execution and delivery.