Prime Minister Narendra Modi participated in the India-Norway Business and Research Summit in Oslo, highlighting the increasing cooperation between the two countries after the implementation of the India-EFTA Trade and Economic Partnership Agreement. The summit saw the presence of CEOs from more than 50 companies and over 250 participants from the business and research sectors of both nations. Several agreements were signed between Indian and Norwegian entities during the event.
Preceding the summit, various roundtable sessions were conducted in Oslo, focusing on areas such as healthcare innovation, maritime collaboration, energy storage systems, digitalization, electrification, and wind energy. Prime Minister Modi acknowledged the rise in bilateral trade and investments post the initiation of TEPA. He emphasized the need for concerted efforts from both sides to reach the investment goal of $100 billion under TEPA, aiming to create one million jobs in India.
During his speech, Prime Minister Modi praised India’s economic strengths, including its growth trajectory, demographic dividend, skilled youth, business-friendly environment, and competitive federalism. He encouraged increased Norwegian investments in sectors like the blue economy, renewable energy, health-tech, critical minerals, and startups. Modi also highlighted India’s commitment to a green transition, focusing on renewable energy, green hydrogen, and clean energy initiatives.
Acknowledging Norway’s leadership in clean energy investments and climate initiatives, Prime Minister Modi urged businesses from both nations to establish new partnerships, explore collaboration opportunities, and enhance economic ties.
