sweden trade
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SWEDEN TRADE vs India Trade and Business etiquettes
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SWEDEN TRADE
Shahil, Paritosh , Sparsh , Neerav , Rajnish
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Introduction
• Sweden is located on the Scandinavian Peninsula ,Northern Europe
• Stockholm is the capital• Neighboring Countries Finland, Denmark, Norway ,Iceland ,
Russia and some CIS Countries• A constitutional democracy with parliamentarian form of Govt• GDP (PPP) of $338.5 billion , number 4 in the global
competitiveness , Number 7 in HDI • Population 9.02 mn Third largest country in European Union• Part of EU since 1995 but uses currency as Swedish Krona• 1 SEK= Rs 6.98 (Finance.yahoo.com)
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Culture
• Highly Democratic People rated number 1 in survey of Democracy by The Economist
• They are keen listeners and like to listen more than speak• Not encouraged to compete due to the egalitarianism in
Sweden.• They speak 4 languages apart from Swedish Danish ,
Norwegian, Icelandic and English• Religion :- 87% Lutheran (Protestants) and 13% others
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Social Ettiquets
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Eating Habits
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Gifting Etiquettes
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Receiving Gift
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Business Ettiquetes
• Meeting and Greetingi. They are very reserved so be formal until
they open upii. Firm handshake and Eye Contactiii. Address your host with Professional titles
with surname Dr Fern Mr xxx Mrs YYY they are ok if you call all ladies by Ms
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Attire in a meeting
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Negotiation
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Trade India - Sweden
• Total Exports $148 Bn 81681567 MT• Total Imports $164 Bn 89858046 MT• Total Export to India $1.77 Bn, 309972 MT
Freight• Total Import from India $673.5 MN 130956
MT Freight
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• Top 5 exports to India of Sweden in Tones
Goods % age
pulp and waste paper 21.09%
ferrous waste and scrap, remelting ingots 16.90%
paper and paperboard 15.36%
metallic salts and peroxysalts 5.78%
flat-rolled products of alloy steel 4.51%
• Top 5 Exports to India in terms of USDGoods % age
telecommunications equipment 33.33%
motor vehicle parts and accessor. n.e.s. 6.30%
arms and ammunition 3.60%
musical instruments, records, tapes 3.20%
ferrous waste and scrap,remelting ingots 3.13%
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• Top 5 Imports from India MT
• Top 5 Imports from India USD
Goods % age
tubes, pipes, fittings, of iron or steel 13.80%
manufactures of base metal, n.e.s. 6.80%
made-up articles of textile mtrls, n.e.s 6.75%
floor coverings, etc. 6.20%
motor vehicle parts and accessor. n.e.s. 5.90%
Goods % ge
made-up articles of textile mtrls, n.e.s 9.20%
womens or girls clothing, not knitted 6.90%
floor coverings, etc. 5.00%
tubes, pipes, fittings, of iron or steel 4.70%
motor vehicle parts and accessor. n.e.s. 4.45%
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• Sweden is majorly dependent on Motor Industry and Weapon in its exports
• The major raw material used is the Steel and Aluminum in these industries
• The ore for these metals are bauxite and iron ore which is available in abundance in India also India is exporting these to several countries
• Sweden imports large amount of bauxite/alumina and Iron ore but not from India ($ 888 Million 2008)
• No import duty its free trade economy so no hassles in exporting from India
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India Bauxite and Iron Ore Reserves
• India is 3rd largest producer of Bauxite with reserves of 2,650 mn tons it is the cheapest in the world in terms of Cost per ton to acquire alumina ,USP.
• India is 5th largest producer of Iron ore with reserves of 13,400 Mn tons
• Export restrictions on aluminum ore and Iron Ore not there