This will be the fifth interaction between the two leaders since 2015, according to the statement.
Prime Minister Narendra Modi will hold a virtual summit with his Swedish counterpart Stefan Lofven on Friday during which they will deliberate on the entire spectrum of bilateral ties and exchange views on regional and global issues, including further strengthening of cooperation in the post-COVID era.
India and Sweden have warm and friendly relations based on shared values of democracy, freedom, pluralism and rules-based international order, the Ministry of External Affairs (MEA) said in a statement.
Both countries have very close cooperation in the areas of trade and investment, innovation, science and technology as well as research and development, it said.
During the summit, the two leaders will hold comprehensive discussions on the entire spectrum of bilateral relations and exchange views on regional and global issues, including further strengthening of cooperation in the post-COVID era, the MEA said.
This will be the fifth interaction between the two leaders since 2015, according to the statement.
Prime Minister Modi had visited Stockholm in April 2018 for the First India Nordic Summit, while Mr Lofven had visited India in February 2016 for the special Make in India week, it noted.
Earlier, the two leaders had met on the sidelines of the UN General Assembly in September 2015.
In April last year, the two prime ministers had a telephonic conversation to discuss the situation arising out of the COVID-19 pandemic. In addition, Their Majesties Carl XVI Gustaf and Queen Silvia of Sweden had visited India in December 2019.
Around 250 Swedish companies are actively operating in India in various sectors such as health and life sciences, auto industry, clean technology, defence, heavy machinery and equipment, the statement said.
Around 75 Indian companies are also active in Sweden, it said.