Prime Minister Narendra Modi on Monday joined the India-Norway Business and Research Summit in Oslo, reflecting the rising pace of economic engagement between the two nations after the implementation of the India-EFTA Trade and Economic Partnership Agreement (TEPA).
The event saw participation from chief executives of more than 50 companies. Over 250 delegates from the Indian and Norwegian business and research sectors also attended the event.
During the summit, both sides finalised multiple agreements, indicating expanding commercial cooperation.
Before the main summit, stakeholders held four separate roundtable meetings at different venues in Oslo, focusing on areas such as healthcare innovation, maritime ties, battery and energy storage solutions, digital transformation and electrification, and wind energy. These discussions enabled participants to assess new opportunities and strengthen sectoral partnerships.
While addressing the gathering, PM Narendra Modi noted the steady growth in trade and investment following the enforcement of TEPA. He urged stakeholders to work towards achieving the ambitious target of 100 billion dollars in investments under the agreement.
The Prime Minister also highlighted the goal of generating 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,” an official statement noted.
The Prime Minister outlined India’s commitment to a large-scale green transition. He highlighted the country’s growing energy needs and climate goals.
PM Modi also pointed to rapid advancements in renewable energy, grid systems, green hydrogen, and clean technologies.
Prime Minister Modi also acknowledged Norway’s global expertise in clean energy investments, maritime decarbonisation, ocean sustainability, and climate finance.
PM Modi urged businesses from both countries to establish new partnerships, explore innovative sectors, and deepen economic cooperation further.
The summit represented a key milestone in enhancing India-Norway ties through sustained collaboration in trade, technology, and sustainability.
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