Ambassador meets President and CEO of Atlas Copco Group, Mr. Ronnie Leten

Ambassador meets President and CEO of Atlas Copco Group, Mr. Ronnie Leten

The President and CEO of Atlas Copco Group, Mr. Ronnie Leten and Ms. Annika Berglund, Senior Vice President Corporate Communications and Government Relations called on Ambassador on April 29, 2015. Ambassador welcomed them to the Embassy and reminded them that the Indian Prime Minister Shri Jawaharlal Nehru has visited the facilities of Atlas Copco in 1957 during his visit to Sweden and had invited them to invest in India. The company did so and was one of the first Swedish companies to enter India.

Mr. Leten told the Ambassador that the Atlas Copco's financial report was released last week and the profits from the India operations had gone up by 12%. He was very optimistic about future growth potential. He further informed Ambassador that Atlas Copco had steadily extended their operations in India. They had manufacturing facilities in Pune, Nasik and Hyderabad. They had established their factory in Pune in 1960 and celebrated its 50th Anniversary in 2010. They also celebrated the 50th Anniversary of their factory in Nashik a couple of years back.

Mr. Leten appreciated of the new Indian Government's initiative and felt that there was a clear change in the business mood over the last few months. There was much more optimism about the economy. However, he felt that acquiring land continues to pose a big challenge for foreign investors. Further greater clarity and predictability in relevant rules and procedures was necessary if India wants a rapid increase in FDI.

Ambassador told him that Atlas Copco's motto of 'Innovations for Sustainable Productivity' was a vital value for India's fast-expanding construction and mining sectors. She felt that the opportunities for Atlas Copco would multiply exponentially as the Smart Cities programme really takes off. Mining was a critical sector for India and the company could play a big role in making it more productive and sustainable. She also asked him to find out from his India Head if they were facing any problems whatsoever in their expansion. If so, these should be brought to the notice of the Embassy immediately, so that it could be brought to the attention of relevant officers at the highest level.

Atlas Copco has a leading position in the world in Compressor Technique, Industrial Technique, Mining and Rock Excavation Technique, Construction Technique, to related aftermarket and rental. With state-of-the-art manufacturing facilities, the company has a national presence with over 2,500 highly skilled employees in 22 offices across India. In addition, the company has two engineering competency centers for compressors and construction and mining equipment.