Prime Minister Narendra Modi has attended the India-Norway Business and Research Summit in Oslo. Crown Prince Haakon and the Prime Minister of Norway, Jonas Gahr Støre, also participated in the Summit.
Addressing the Summit, Prime Minister Modi appreciated the growth in bilateral trade and investments following the entry into force of the Trade and Economic Partnership Agreement, TEPA. He underlined that stakeholders on both sides should make efforts to achieve the investment target of 100 billion US dollars under TEPA and the consequent creation of one million jobs in India.
He highlighted 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.
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 Modi urged the business communities of both countries to forge new partnerships, identify emerging areas of collaboration, and strengthen economic cooperation.
The Summit was attended by CEOs of over 50 companies and more than 250 participants from the Norwegian and Indian business and research communities. In a statement, the Ministry of External Affairs said the Summit marked the growing momentum in bilateral economic cooperation following the coming into force of the India-EFTA Trade and Economic Partnership Agreement. 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 organised across different locations in Oslo, the MEA added. The sessions focused on healthcare innovation, maritime cooperation, batteries and energy storage systems, digitalisation and electrification, and wind energy.
