India and Sweden Ink Pact To Collaborate On Solutions For Smart Cities

India and Sweden together, have launched a joint programme that will work towards addressing a range of challenges around smart cities and clean technologies among others. The programme was co-funded by Indian Department of Science and Technology (DST) and Swedish agency Vinnova.

Vinnova will provide funding to Swedish participants - up to 2,500,000 Swedish Krona (around `1.87 Crore) as grant. On the Indian side, conditional grant of up to 50% (with a limit of `1.5 crore) per project will be provided to the Indian partners. A ‘triple helix’ model of innovation that involves participation of government, industry and academia would be useful as these partners can work towards using new technologies like artificial intelligence to develop solutions that help meet goals of sustainable development.

Swedish companies like Volvo and Ericsson that have been present in the Indian market for many years and new entrants like IKEA also have drawn up aggressive expansion plans to tap into the opportunity here. Negotiations for the much-delayed pact between European Union (which Sweden is a part of) and India have been on for many years now.