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On 17 May, India’s 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 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
The Prime Ministers also recognized the importance of the bilateral Sweden-India Industry Transition Partnership (ITP). The 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.
Recognizing 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 operationalization of the new strategic partnership between Sweden and India.
Further details of for the third phase of LeadIT will be announced during this year’s climate negotiations – COP31 – which this year will be held in Türkiye. LeadIT comprises 19 countries and 32 companies in heavy industry. The goal is to achieve net-zero emissions by 2050 in sectors such as steel and cement. The new work program will be drafted in consultation with the group’s members.
LeadIT was launched by the Prime Ministers of Sweden and India at the UN Climate Action Summit in 2019 and is supported by the World Economic Forum (WEF). The LeadIT Secretariat is hosted by SEI.
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