OSLO, May 18 (ANI): Prime Minister Narendra Modi on Monday held wide-ranging discussions with leading Norwegian business and research leaders at the India-Norway Business and Research Summit, highlighting investment and innovation opportunities in India.
The outreach brought together CEOs and senior executives from sectors including energy, shipping, healthcare technology, green energy, robotics, and higher education. The combined market capitalization of the major participating companies is estimated at around USD 200 billion, underscoring the scale of Norway’s economic engagement with India.
During the interaction, Modi highlighted India’s growth potential and emphasized the country’s emergence as a trusted economic partner and innovation destination for Nordic economies.
The summit included leaders from sectors such as energy and offshore wind, green hydrogen and green ammonia, maritime and shipping, fertilizers and food security, consumer goods and food processing, industrial manufacturing and coatings, robotics and underwater technologies, healthcare technologies, and research and higher education.
Among the prominent companies represented were Equinor, Norway’s energy giant and a global leader in oil, gas, offshore wind, and low-carbon energy; Yara International, a global fertilizer and green ammonia company; Orkla, a leading Nordic consumer goods group with a strong India presence through brands such as MTR and Eastern; and Kongsberg Group and Kongsberg Maritime, which specialize in maritime technology, defense, and robotics.
Other major participants included DNV, a global leader in maritime classification and energy transition services; Jotun, an international coatings and paints company; Aker Solutions, a global energy engineering and services firm; BW LPG, the world’s largest LPG shipping company; and Laerdal Medical, a leader in healthcare training and medical simulation.
Earlier in the day, Modi held bilateral talks with Norwegian Prime Minister Jonas Gahr Støre in Oslo.
In a special gesture reflecting close India-Norway ties, Modi was received at Oslo Airport by Prime Minister Støre upon his arrival.
The two leaders reviewed the full spectrum of India-Norway relations, including trade and investment, implementation of the India-EFTA Trade and Economic Partnership Agreement (TEPA), climate action, energy transition, blue economy, research and higher education, Arctic and polar cooperation, space collaboration, and talent mobility.
Both sides agreed to elevate bilateral ties to a Green Strategic Partnership, reflecting a shared commitment to sustainability and green growth.
The leaders emphasized the strong potential for expanding economic and commercial cooperation. Modi welcomed increased investments by Norwegian companies in India.
The two leaders also set a target of doubling bilateral trade by 2030 and encouraged businesses to work toward achieving the USD 100 billion investment commitment under TEPA and the creation of one million jobs in India.
The leaders directed their teams to strengthen cooperation in areas including marine ecosystem protection, shipbuilding, green shipping, tunneling and infrastructure, space, artificial intelligence, robotics, cybersecurity, seafarer training, fisheries, and aquaculture.
They reaffirmed support for UNCLOS principles and welcomed Norway’s participation in the Indo-Pacific Oceans Initiative.
Modi invited Norway to participate in Bharat Innovates 2026, scheduled to be held in France in June 2026, and proposed the creation of a Start-up Innovation Hub and Green Innovation Hackathon between the two countries.
The leaders also discussed cooperation in renewable energy technologies, including carbon capture, utilization and storage (CCUS) and offshore wind energy, and called for greater Norwegian investment in India’s clean energy sector.
Both countries agreed to deepen cooperation in Arctic research and environmentally responsible practices, while also expanding collaboration in renewable energy, climate, health, critical minerals, emerging technologies, and information technology.
In higher education, the leaders agreed to explore joint degree programs, mutual recognition of qualifications, and greater mobility for students and faculty.
The two leaders also exchanged views on regional and global developments and reaffirmed their commitment to multilateral cooperation.
Prime Minister Støre reiterated Norway’s support for India’s permanent membership in a reformed United Nations Security Council.
Both leaders strongly condemned terrorism, including cross-border terrorism, and called for coordinated global action to combat the threat.
They also discussed opportunities for defense cooperation and defense industrial collaboration, and agreed to establish a Joint Working Group on Digitalization to advance cooperation in digital public infrastructure and emerging technologies. (ANI)
About The Author
