Gothenburg [Sweden], May 18 (ANI): Prime Minister Narendra Modi on Sunday (local time) said that being conferred with Sweden's highest honour, the 'Order of the Polar Star', was not merely a personal recognition but an honour for the '140 crore people of India' and for all those who have contributed to strengthening India-Sweden relations.

Addressing the CEO Round Table during the European Round Table for Industry (ERT) meeting in Gothenburg, PM Modi said, 'Some time ago, I was conferred with Sweden's highest honour- the Order of the Polar Star. This is not merely an honour for me. It is an honour for the 140 crore people of India. It is also an honour for all our friends in Sweden who have enriched India-Sweden relations.'

The Prime Minister made the remarks while highlighting the growing partnership between India and Sweden, as both countries decided to elevate bilateral ties to the level of a Strategic Partnership amid efforts to deepen cooperation in innovation, sustainability and industry.

Highlighting the shared foundations of the bilateral relationship, the Prime Minister said, 'The relationship between India and Sweden rests upon a strong foundation of democratic values, the rule of law, and human-centric development. Both our nations view innovation as a vehicle for development, regard sustainability as a shared responsibility, and consider democracy to be our greatest strength.'

He said discussions during the meeting focused on advancing cooperation based on these common values and expanding engagement across sectors.

'During today's meeting, we discussed how to build upon these shared commonalities to move forward. In light of our growing cooperation across every sector, we have decided to elevate our relationship to the level of a Strategic Partnership,' he said.

In a packed evening session bringing together some of Europe's most influential corporate leaders, Prime Minister Modi addressed the European Round Table for Industry (ERT) and invited companies to deepen their engagement and investments in India.

Held on the evening of May 17 in Gothenburg, Sweden's industrial hub and a symbol of European manufacturing strength, the high-level roundtable saw the Prime Minister speak before senior executives representing some of Europe's largest corporations. The event, co-hosted by Swedish Prime Minister Ulf Kristersson and European Commission President Ursula von der Leyen, marked one of the most significant diplomatic and business engagements between India and Europe in recent years.

The ERT session saw participation from companies across telecom, technology, energy, infrastructure, healthcare and manufacturing sectors. Representatives from firms including Vodafone, Ericsson, Nokia, Orange, ASML, SAP, Capgemini, Shell, Volvo Group, Maersk, Airbus, AstraZeneca, Roche, Nestle and Unilever were present during the discussions.

During the session, PM Modi outlined a five-sector framework for deeper India-Europe industrial collaboration and called on every company present to make a new commitment to India within the next five years.

He also highlighted India's reform journey, the recently concluded India-EU Free Trade Agreement, which he described as the 'Mother of all Deals', and the structural advantages India offers to global businesses and investors.

The five priority sectors identified for deeper partnership included telecom and digital infrastructure, artificial intelligence (AI) and semiconductors, green transition and clean energy, infrastructure and mobility and healthcare and life sciences.

The Prime Minister also proposed several institutional mechanisms to strengthen the India-Europe business relationship, including an annual India-Europe CEO Roundtable, sector-specific working groups to accelerate cooperation in priority sectors, an ERT India Desk or India Action Group to assist companies operating in India and support new entrants.

He also proposed government-backed institutional reviews of flagship projects to ensure timely implementation and reiterated India's commitment to supporting major investment projects emerging through these collaborations.

The Gothenburg meeting took place amid several major developments in India-European Union relations, including the conclusion of the India-EU Free Trade Agreement, a new Security and Defence Partnership, a Mobility Agreement and ongoing cooperation through the India-EU Trade and Technology Council.

The European Round Table for Industry (ERT) is a forum comprising around 55 Chief Executives and Chairpersons of major European multinational companies across industrial and technological sectors. It is regarded as one of Europe's most influential business bodies and regularly engages with European Union institutions and member state governments on economic policy matters. (ANI)