New Delhi, April 15 (ANI): Corporate Affairs Minister Sachin Pilot has expressed hope that given the excellent bilateral relations between New Delhi and Stockholm, Sweden would support India's application for observer status in the Arctic Council.
During his three -day official visit to Sweden last week, Pilot had a meeting with the Foreign Minister of Sweden, Carl Bildt, and Swedish Minister for Financial Markets, Peter Norman.
During his meeting with Bildt on Saturday, the two Ministers noted with satisfaction the steady progress in bilateral relations between the two countries during recent years, which have been marked with frequent Ministerial-visits and interactions.
Pilot said that though the bilateral trade has increased over the last five years, and was close to three billion dollars last year, the economic engagement is still far below the potential of what was possible. He briefed the Swedish Minister about the status of the Indian economy and they briefly discussed the continuing Euro -zone crisis and its implications for their respective countries.
Pilot earlier called on Norman and briefed him regarding the steps that his Ministry had taken to put in place a new paradigm for the functioning of companies in India. For example, the process of registration of companies had been made completely electronic and the Company Law was being updated.
He also briefed the Swedish Minister regarding the role of his Ministry with regard to competition policy and regulation of listed companies. Pilot invited Norman to visit India to see at first hand the vibrancy of financial markets. The invitation was accepted with pleasure. (ANI)
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