Establishing LeadIT 3.0 under a new strategic partnership
On Sunday, 17 May, Prime Minister Narendra Modi made his second official visit to Sweden, spending the day in Gothenburg, at the invitation of the Swedish Prime Minister, Ulf Kristersson. The two leaders held talks on a range of topics, including the green transition and climate action, and agreed to elevate the India-Sweden relationship to the level of a Strategic Partnership, including cooperation for a global industry transition. This new Partnership will be guided by a Joint Action Plan for 2026-2030, where India and Sweden commit to building a green, inclusive, healthy, and resilient future through industrial transformation, including enabling a just and equitable global industry transition through the joint leadership of the Leadership Group for Industry Transition (LeadIT).
In their statement issued after the talks, the prime minister welcomed the expansion and growing engagement of LeadIT and called for a new four-year phase, LeadIT 3.0, to be announced at COP31. The Prime Ministers also recognised the importance of the bilateral Sweden-India Industry Transition Partnership (ITP).
Mr Modi also met European Commission President Ursula von der Leyen at the European Business Round Table for Industry, which was held in Gothenburg at World of Volvo. The EU and India signed a free trade agreement in January, the full details of which are expected to be finalised by the end of the year. meet with European and Indian business leaders. The Commission president reiterated commitment to the agreement, describing it as the “mother of all deals”.
Ursula von der Leyen, President of the European Commission; Ulf Kristersson, Prime Minister of Sweden, and Narendra…
Narendra Modi, Prime Minister of India addresses the press conference in Gothenburg. Photo: Magnus Liljegren/Government…
Ulf Kristersson, Prime Minister of Sweden addresses the press conference in Gothenburg. Photo: Magnus…
Ulf Kristersson, Prime Minister of Sweden, and Narendra Modi, Prime Minister of India in Gothenburg. Photo: Tom…
Industry Transition Partnership (ITP)
This Partnership under LeadIT combines Sweden’s cutting-edge clean technologies with India’s industrial scale and ambitions to build pioneering clean steel and cement projects and was launched by Mr Modi and Mr Kristersson at COP28 in 2023. Recognising progress under this bilateral agreement, the two prime ministers agreed to expand it by developing a specific collaboration on green steel with enhanced participation of both private and public actors. It should aim to pave the way for innovation and the diffusion of new clean technologies with increased competitiveness and trade, allowing for the emergence of green value chains. The new plans for the ITP were contained within the Joint Action plan, which supports the operationalisation of the new strategic partnership between Sweden and India.
Message of support from the UN General
The announcement of a new chapter of LeadIT was welcomed by the UN Secretary General, António Guterres, who described LeadIT as the “kind of practical cooperation needed to deliver a just and equitable transition”. LeadIT was set up in 2019 at the request of Mr Guterres, who asked India and Sweden to work together to tackle the challenge of delivering low-carbon heavy industry.
The worst energy crisis in decades has exposed the cost of the global addiction to fossil fuels. The countries and industries that move fastest on decarbonization will lead the green economy of the future, strengthening economic security and creating quality jobs. Prime Ministers Modi and Kristersson’s commitment to a new phase of the Leadership Group for Industry Transition shows the kind of practical cooperation needed to deliver a just and equitable transition for all.
António Guterres
United Nations Secretary-General
