India-Norway Green Strategic Partnership: Trade to Double by 2030

PM Modi, Norway's Støre agree to double trade by 2030, back UNSC reform, elevate ties to Green Strategic Partnership

Oslo, May 18

According to a statement issued by the Ministry of External Affairs (MEA), the two leaders reviewed the full spectrum of bilateral relations between the two nations, including trade and investment, climate action, energy transition, blue economy, research, education, space cooperation, and emerging technologies.

Both leaders agreed to elevate the relationship to a Green Strategic Partnership, underscoring a shared commitment to sustainability, green growth, and long-term cooperation on climate and clean energy transitions.

"The leaders reviewed the full spectrum of India-Norway relations, covering trade and investments, follow-up on the India-EFTA Trade and Economic Partnership Agreement (TEPA), climate action and energy transition, blue economy and ocean governance, research and higher education, Arctic and polar cooperation, space, and talent mobility. They agreed to elevate ties to a Green Strategic Partnership, underscoring their shared commitment to sustainability and green growth," the statement read.

A key outcome of the talks was the shared commitment to double bilateral trade by 2030 and further boost economic engagement under the India-EFTA Trade and Economic Partnership Agreement (TEPA).

The leaders also encouraged increased Norwegian investment in India, with a target of USD 100 billion in investments and the creation of one million jobs.

India also welcomed Norway's support for India's permanent membership in a reformed United Nations Security Council, reflecting growing convergence on global governance reforms and both leaders also strongly condemned terrorism, including cross-border terrorism, and called for coordinated global efforts to combat the threat.

" They also discussed collaboration in multilateral fora and exchanged views on key regional and global issues of mutual interest. The Norwegian Prime Minister reiterated Norway's support for India's permanent membership in a reformed UN Security Council. The leaders unequivocally condemned terrorism, including cross-border terrorism, and urged concerted global action to deal with the menace," the statement added.

On maritime cooperation, the leaders welcomed Norway's participation in the Indo-Pacific Oceans Initiative, reinforcing shared interest in a rules-based maritime order and also highlighted expanded cooperation in the blue economy, including marine ecosystem protection, green shipping, fisheries, aquaculture, and shipbuilding.

"The leaders tasked their teams to deepen cooperation in the blue economy, including marine ecosystem protection, shipbuilding, green shipping, tunnelling and infrastructure, space, AI, robotics, cyber security, seafarer training, fisheries and aquaculture. They reaffirmed UNCLOS principles and welcomed Norway joining the Indo-Pacific Oceans Initiative. Prime Minister Modi invited Norway to participate in Bharat Innovates 2026 to be held in France in June 2026. He also suggested setting up a Start-up Innovation Hub and Green Innovation Hackathon between the two countries," the statement stated.

In addition, both sides agreed to deepen cooperation in emerging areas such as artificial intelligence, robotics, cybersecurity, digital public goods, space, and critical minerals.

A Joint Working Group on digitalisation will also be established to drive cooperation in the digital domain.

" They noted potential in defence cooperation and defence industrial collaboration, agreed to explore third-country cooperation in digital public goods, and tasked ministries to establish a Joint Working Group on Digitalization to drive the digital transition," it added.

The MEA statement further noted that the two leaders discussed strengthening collaboration in climate and renewable energy technologies such as carbon capture, utilisation and storage (CCUS) and offshore wind energy.

The leaders also exchanged views on regional and global issues of mutual interest and reaffirmed commitment to multilateral cooperation.

Prime Minister Modi also invited Prime Minister Støre to visit India, and both sides agreed to maintain momentum in high-level exchanges.

These come as part of Prime Minister Modi's five-nation tour, which also included the Nordic country.

PM Modi is in Norway in the fourth leg of his five-nation visit. He reached Oslo after visiting the UAE, the Netherlands and Sweden.

During the visit, PM Modi will take part in the third India-Nordic Summit. He is on a five-nation tour from May 15 to 20 and is scheduled to visit Italy in the last leg of his tour.

— ANI