Washington : India and Sweden agreed to work on a deal to allow increased sharing of classified information, potentially opening up for Saab AB to secure an order for its Gripen fighter jets.
An accord will be needed for cooperation on defense materials, Swedish Prime Minister Stefan Lofven said at a press conference in Stockholm with his Indian counterpart, PM Narendra Modi, who was in town for a summit with Nordic leaders.
"This agreement would be an important step forward as we are deepening our bilateral cooperation in the defense domain," Lofven said. The countries also agreed to set up a common task force on cyber security and form a partnership on innovation.
The visit comes as Swedish weapon manufacturer Saab is vying for a contract in India to build 110 locally-manufactured aircraft.
Swedish Enterprise Minister Mikael Damberg said agreeing to share secrets is common when these types of deals move forward. "When you enter into the final phase you need to learn more about company secrets and deeper information," he said in an interview.
PM Modi met with Swedish business leaders on Tuesday, who are eager to gain a bigger share of one of the world's biggest and emerging markets.
Hakan Buskhe, Saab's chief executive officer, was one of the executives in attendance. While there's no time to drive deal making in these settings, a top-level meeting of this kind indicates a willingness to move forward together, he said in an interview.
Saab is targeting the Indian market for a broad spectrum of business, including Gripen, he said. "What's spectacular are the possibilities out there," he said.
An accord will be needed for cooperation on defense materials, Swedish Prime Minister Stefan Lofven said at a press conference in Stockholm with his Indian counterpart, PM Narendra Modi, who was in town for a summit with Nordic leaders.
"This agreement would be an important step forward as we are deepening our bilateral cooperation in the defense domain," Lofven said. The countries also agreed to set up a common task force on cyber security and form a partnership on innovation.
Swedish Enterprise Minister Mikael Damberg said agreeing to share secrets is common when these types of deals move forward. "When you enter into the final phase you need to learn more about company secrets and deeper information," he said in an interview.
Advertisement
Hakan Buskhe, Saab's chief executive officer, was one of the executives in attendance. While there's no time to drive deal making in these settings, a top-level meeting of this kind indicates a willingness to move forward together, he said in an interview.
Advertisement
COMMENTS
Advertisement
"I Am Confident That...": Italy PM Wishes India On 78th Independence Day Thousands To Attend PM Modi's Indian Community Meet In US Next Month: Report In PM Modi's Independence Day Speech, A Call For "24x7 For 2047" Rahul Gandhi's Seat At Red Fort Triggers Fresh Congress Attack On BJP 2 French Rafale Jets Collide Mid-Air, Instructor, Pilot Missing "Pivotal Moment": Key Doctor Body Resumes Strike 2 Days After Calling It Off Woman Shares Series Of Harassment Incidents On Delhi-NCR Streets 1 Arrested In Connection To "Friends" Actor Matthew Perry's Death: Report US State Arizona's Ballot Can Describe Fetuses As "Unborn" Humans: Court Track Latest News Live on NDTV.com and get news updates from India and around the world.