PM Modi attends India-Norway Business and Research Summit, several pacts signed
Oslo/New Delhi, May 18 Prime Minister Narendra Modi on Monday attended the India-Norway Business and Research Summit in Oslo, marking the growing momentum in bilateral economic cooperation following the coming into force of India-EFTA Trade and Economic Partnership Agreement.
The summit was attended by CEOs of over 50 companies and more than 250 participants from the Norwegian and Indian business and research communities. A number of business agreements between Indian and Norwegian companies and entities were signed during the Summit.
Prior to the high-level 'Business and Research Summit', four roundtable sessions were organized across different locations in Oslo, focusing on healthcare innovation, maritime cooperation, batteries and energy storage systems, digitalisation and electrification, and wind energy.
In his address, Prime Minister Modi appreciated the growth in bilateral trade and investments following the entry into force of TEPA.
He underlined that stakeholders on both sides should make efforts to achieve the investment target of $100 billion under TEPA and consequent creation of one million jobs in India.
"India's strong upward growth trajectory, demographic dividend, talented and aspirational youth, robust business practices, investor-friendly regulatory framework, and the spirit of competitive federalism. He encouraged greater Norwegian investments in India in key sectors such as the blue economy, shipbuilding, green transition, renewable energy, health-tech, critical minerals, and start-ups," according to an official statement.
Prime Minister Modi also underscored India's ambitious green transition agenda, emphasising the country's scale, growing energy demands, climate commitments, and rapid expansion in renewable energy, grid infrastructure, green hydrogen, and clean energy.
He appreciated Norway's global leadership in clean energy investments, maritime decarbonisation, ocean sustainability, and climate finance. Prime Minister urged the business communities of both countries to forge new partnerships, identify emerging areas of collaboration, and strengthen economic cooperation.
— IANS
Reader Comments
As someone who has worked on Nordic-India collaborations before, this is fantastic news! The focus on green hydrogen and battery storage aligns perfectly with India's renewable energy targets. Norway's maritime tech could revolutionise our coastal shipping. Just hope the agreements move beyond MoUs to concrete projects on ground.
Nice to see India expanding its diplomatic reach beyond traditional partners. Norway's clean energy expertise can help us meet climate goals. But I hope these deals also address technology transfer—India shouldn't just be a market but a partner in R&D. Our startups in health-tech and digitalisation have much to offer too!
Respectfully, I wish more attention was paid to making India's business environment easier for domestic entrepreneurs too. But this is a welcome step—Norway is a leader in ocean sustainability and shipbuilding, areas where India has huge potential. Let's see if the $100 billion investment target actually translates into one million jobs as promised.
Norway invest karne aayega toh fayda dono ko hoga! 🇮🇳🤝🇳🇴 Especially excited about the battery storage collaboration—with our solar push, we need that. And maritime cooperation means our coastal communities could see new opportunities. Bas implementation sahi ho toh baat ban jaayegi.
India-Norway ties make strategic sense—both are maritime nations and have strong research traditions. The roundtable on healthcare innovation is particularly timely given our post-COVID focus on health infrastructure. That said, I hope these agreements don't remain confined to corporate boardrooms but benefit grassroots innovators too.
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.