A new partnership in digital technologies and collaboration between India and the Nordic countries to cope with disruptions caused by geopolitical churn around the globe will be in focus when Prime Minister Narendra Modi arrives in the Norwegian capital on Monday for several crucial meetings.
Modi will be the first Indian premier to travel to Norway since a visit by Indira Gandhi in 1983, and he will hold a bilateral meeting with his Norwegian counterpart Jonas Gahr Støre on Monday and co-chair the third India-Nordic Summit on Tuesday. Norway is the fourth leg of the PM’s five-nation tour.
Besides three agreements that are expected to be signed between India and Norway for cooperation in digital public goods, health and space, close to 20 pacts are set to be inked by firms of the two countries at Norway-India Business and Research Summit to be attended by Modi and Støre on Monday, officials said.
“We are looking at this visit with great importance. It’s 43 years since an Indian prime minister visited Norway, and for us, it’s very important. He is the leader of the world’s most populous country, and now the fourth largest economy and the fastest growing,” said May-Elin Stener, Norway’s ambassador to India.
“There will be an MoU signed for a new health partnership between India and Norway. We will also sign an agreement on digital public goods — how we together can help third countries for better digital solutions,” Stener said. “And there will be quite a few business-to-business MoUs, mainly in areas such as green energy, maritime, waste water management and the circular economy.”
{{/usCountry}}“There will be an MoU signed for a new health partnership between India and Norway. We will also sign an agreement on digital public goods — how we together can help third countries for better digital solutions,” Stener said. “And there will be quite a few business-to-business MoUs, mainly in areas such as green energy, maritime, waste water management and the circular economy.”
{{/usCountry}}Ahead of Modi’s visit, Støre said Modi’s visit underlines the importance of cooperation between India and the Nordic countries in “times of global instability”. He added, “We stand together in promoting international cooperation and a rules-based world order.”
The business conclave on Monday will be an opportunity for India and Norway to explore avenues to strengthen trade and investment ties by capitalising on the trade and economic partnership agreement (TEPA) signed by India and the European Free Trade Association (EFTA), which entered into force last October. Besides Norway, the other members of EFTA are Iceland, Liechtenstein and Switzerland.
“The prime focus of the business conference will be how to implement the TEPA, and how to get it working harder,” said Stener.
Both sides are keen to drive two-way trade, worth $2.73 billion in 2024, and investments by Norway’s Government Pension Fund (GPFG), which has poured close to $28 billion into India’s capital market. Bilateral trade has more than doubled over the past decade but officials believe there is considerable potential for further growth.
The third India-Nordic Summit to be held in Oslo on Tuesday comes almost four years since the last such meeting was held in Copenhagen, and the focus will be on technology and innovation, defence, renewable energy, blue economy, space and the Arctic.
“The last India-Nordic Summit was in Copenhagen in 2022 and that’s a long time ago. In this world today, a lot has changed. All five Nordic PMs are really looking forward to discussing with India’s PM the situation in the world today, the conflicts that are going on, the volatility and everything that has changed,” Stener said. “This will be in addition to discussing how to work closer together for a green and a more sustainable future.”
Modi will be joined by Norway’s Prime Minister Støre, Danish Prime Minister Mette Frederiksen, Finnish Prime Minister Petteri Orpo, Iceland’s Prime Minister Kristrún Frostadóttir, and Swedish Prime Minister Ulf Kristersson for the summit, which is expected to impart a more strategic dimension to India’s ties with the Nordic countries. Discussions will also focus on bolstering India’s trade with the Nordic countries, valued at $19 billion in 2024, and building resilient supply chains following the India-European Union FTA and the India-EFTA TEPA.