India and Sweden on Sunday upgraded their relations to a strategic partnership to drive cooperation in areas ranging from defence to technology as Prime Minister Narendra Modi and his Swedish counterpart Ulf Kristersson joined European Commission President Ursula von der Leyden to discuss ways to deepen collaboration to ensure stability in an unpredictable global environment.Strategic partnership: India, Sweden upgrade bilateral tiesVon der Leyen joined the two leaders for a European roundtable for industry in Sweden, the third stop in Modi’s five-nation tour. Discussions also focused on building on the India-European Union (EU) free trade agreement, which is expected to be signed by the end of the year, to shore up trade and investment amid the disruptions created by the trade policies of the US.Modi told the business meet that India-Sweden ties are based on democratic values, rule of law and human-centric development, and the two sides will elevate their relations to a strategic partnership that will advance on key pillars such as defence, emerging technologies, the green transition and people-to-people ties.“Political, economic and strategic convergence between India and Europe is crucial for peace and stability throughout the world,” Modi said. “In today’s tense global situation, close cooperation between democracies like India and Sweden is of particular importance. India has always emphasised dialogue and diplomacy to resolve various tensions and problems.”Modi also noted that the India-EU FTA will open up new opportunities for industries, investors and innovators, while the India-EU Security and Defence Partnership and a mobility agreement have added depth to their strategic and partnership.Kristersson noted that India and Sweden have also launched a joint action plan for shared objectives and expanded their cooperation to new areas such as innovation, emerging technologies, AI, space and geospatial technology. The two sides also agreed to launch a joint innovation partnership 2.0 and to enhance their political dialogue on security and defence, including through a dialogue mechanism between their NSAs, he said.“We have a joint ambition to double our trade and investment within five years. With the current speed, I believe it could become reality even sooner,” Kristersson said, adding that the India-EU FTA will create some 23,000 new jobs in Sweden. “In this unpredictable and sometimes dangerous world, the EU and India are partners that promote stability and stability,” he said.Von der Leyden, without directly referring to the geoeconomic churn created by the trade and tariff policies of the US, noted how the India-EU FTA — described as “the mother of all deals” — will lead to a shared market of more than two billion people, accounting for a quarter of global GDP, and result in more than 90% of tariff cuts.