NEW DELHI: Nordic economic powerhouse Sweden wants to co-create products with India to build long-term relationship for the global market Last month during Indian PM trip to Sweden both countries signed agreements to begin a strategic innovation partnership.Swedish Minister for Enterprise and Innovation, Mikael Damberg notes, “Sweden has learned that co-creation is a way of building long-term relationships in the world market, Stockholm also understands that knowing different customers are key for different markets. India and Sweden can even export to other markets – a third country.”PM Narendra Modi during his visit to Stockholm last month met 40 CEOs of Sweden’s top companies to attract investment and innovation.With regard to Intellectual Property Rights Danberg stated, “I think there is room for improvement here, and it’s important because if you want to build your own economy and your own smart manufacturing or new economy, especially in the digital field, the IP issues will be very important.”As many as 200,000 jobs are directly created by Swedish companies and 16,00,000 jobs are indirectly created in India.In 2017, Swedish exports to India increased 28%, and 12 out of Sweden’s 15 largest companies, which together have a turnover of $280 billion have operations in India. During 2005-2017 more than 110 Swedish companies have entered India bringing the total to 180.A Joint Declaration on Sweden-India Innovation Partnership for a Sustainable Future said, "the innovation partnership represents a step-change in India-Sweden science and innovation collaboration, underpinning our mutual commitment to drive prosperity and address global challenges such as climate change and sustainable development through innovation."