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The company would roll out its cars initially in the metros of Delhi and Mumbai and a third city that is yet to be decided, she said after the 'Sweden India Business Forum' organised by CII.
Communications and Information Technology Minister Dayanidhi Maran, who was also present, said the third city could be Bangalore. Volvo is also investing Rs 70 crore (Rs 700 million) for a bus-body building unit in Bangalore, which would create 700 jobs, she said.
Lessening of administrative burdens in India would encourage more Swedish businesses to invest in the country, Olofsson said, addressing the business forum.
In 2006, trade between the two countries reached $2 billion recording a 41 per cent increase. "Our relations with India are top priority," she pointed out.
Olofsson said Sweden was keen to collaborate with India in IT, biotech, automobile and environmental technology. She also said with India churning out so many research students, Sweden would like to collaborate in education sector as well.
Reflecting on her meeting with women entrepreneurs in Delhi earlier this week, she said: "I want, in particular, to improve the possibilities for women to start and run firms and tear down obstacles that prevent them from becoming entrepreneurs".