Sweden calls for more EU economic engagement with India

New Delhi, Feb 27 (PTI) Sweden today said that increasing economic engagement with India will help Europe overcome the sovereign debt crisis. "India is one of those markets that would provide opportunity for Europe to grow," Swedish Ambassador in India Lars-Olof-Lindgren said at an Indian industry chamber FICCI function here. He said the proposed free trade agreement (FTA) between India and EU would benefit the European economy. Since June 2007, India and European Union (EU) are negotiating a comprehensive free trade pact, aimed at liberalising trade in goods and services. The pact would also help in boosting investments. Speaking on the occasion, former Prime Minister of Sweden Goran Persson too said that the FTA would help the 27-nation bloc to overcome the crisis. "I very much attach hopes to the trade agreement with India. India is one of the most important actors in international politics...," Persson said. The European Commission in a recent forecast has slashed expectations for growth across the Eurozone, particularly countries participating in bailout programmes, including Greece and Portugal. The two-way India-EU trade stood at USD 91.3 billion during India's fiscal 2010-11 ended March 31, 2011. PTI