OSLO: Spurring a new chapter in Indo-Nordic economic relations, Prime Minister Narendra Modi championed India’s green transition at the India-Norway Business and Research Summit in Oslo. The convention marked the first major high-level economic assembly following the implementation of the historic India-EFTA Trade and Economic Partnership Agreement (TEPA).
The summit served as a powerhouse of corporate networking, attracting CEOs from more than 50 multinational corporations alongside a 250-strong delegation of researchers, scientists, and industrial stalwarts from both nations. Mirroring this collaborative spirit, a series of strategic commercial pacts were inked between Indian and Norwegian firms on the sidelines of the event.
A Call to Unlock TEPA’s Massive Investment Potential
Delivering his address, Prime Minister Modi emphasized that the business communities on both sides must aggressively capitalize on the newly active trade pact. He reminded delegates of the shared milestone ahead: realizing a massive $100 billion investment injection into India, which is mandated to create at least one million employment opportunities for Indian youth.
To assure Norwegian investors, PM Modi showcased India’s core macroeconomic pillars:
-
An unmatched demographic dividend packed with highly skilled, aspirational youth.
-
An investor-friendly regulatory framework backed by predictable business legalities.
-
The state-level dynamics of competitive federalism, allowing investors tailored opportunities across different Indian regions.
The Prime Minister explicitly urged Norwegian tech giants to bring capital and expertise into India’s emerging high-tech frontiers, specifically identifying the blue economy, advanced shipbuilding, health-tech, critical minerals, and the indigenous startup ecosystem.
Synergizing on Maritime and Energy Goals
With Norway recognized as a global titan in ocean sustainability, PM Modi spent a significant portion of his speech detailing India’s scaling energy landscape. He highlighted India’s strict climate commitments and its rapid domestic expansion in grid infrastructure, green hydrogen modules, and clean energy storage.
He highly commended Norway’s global benchmarks in maritime decarbonization and climate finance, urging businesses to move past simple trading models and step into deep-tier technological co-development.
Setting the stage for the main event, the summit was anchored by four thematic roundtable conferences held across Oslo. These intense micro-summits focused on highly specialized fields—including healthcare innovation, maritime logistics, advanced battery storage systems, digitalization, electrification, and offshore wind energy—locking in actionable pipelines for bilateral commerce.
