Oslo, May 18 — Prime Minister Narendra Modi held a broad interaction with leading Norwegian business and research figures at the India-Norway Business and Research Summit, bringing together CEOs and senior executives from sectors including energy and offshore wind, green hydrogen and ammonia, shipping and maritime technology, fertilizers and food security, consumer goods, industrial manufacturing, robotics, underwater technologies, healthcare tech and higher education. The major participating companies together have an estimated market capitalisation or enterprise value of about USD 200 billion.
Modi used the forum to highlight investment and partnership opportunities in India and to underline India’s growing role as a trusted economic and innovation partner for Nordic economies. Prominent attendees included Equinor, Yara International, Orkla, Kongsberg Group/Kongsberg Maritime, DNV, Jotun, Aker Solutions, BW LPG and Laerdal Medical.
Earlier in Oslo, Modi held bilateral talks with Norwegian Prime Minister Jonas Gahr Støre, who personally received him at Oslo Airport. The leaders reviewed the full spectrum of India-Norway relations, covering trade and investment, follow-up on the India-EFTA Trade and Economic Partnership Agreement (TEPA), climate action and energy transition, the blue economy and ocean governance, research and higher education, Arctic cooperation, space, and talent mobility.
Both Prime Ministers agreed to elevate ties to a Green Strategic Partnership, signaling shared commitments to sustainability and green growth. They set an ambition to double the value of bilateral trade by 2030, welcomed greater Norwegian investment in India, and encouraged business leaders to pursue dynamic partnerships to help meet the TEPA investment target of USD 100 billion and the aim of creating one million jobs in India.
The leaders directed enhanced collaboration across multiple sectors: marine ecosystem protection, shipbuilding and green shipping, tunneling and infrastructure, space, AI, robotics, cyber security, seafarer training, fisheries and aquaculture. They reaffirmed support for UNCLOS principles and welcomed Norway’s participation in the Indo-Pacific Oceans Initiative.
Modi invited Norway to take part in Bharat Innovates 2026, scheduled for June 2026 in France, and proposed establishing a Start-up Innovation Hub and a joint Green Innovation Hackathon. The two sides also called for deeper cooperation on climate and clean energy technologies such as carbon capture, utilization and storage (CCUS) and offshore wind, and urged larger Norwegian investments in Indian renewable projects.
On polar matters, both countries agreed to strengthen Arctic research and logistics while committing to environmentally responsible practices. They also pledged expanded joint work on research and innovation across renewable energy, oceans, climate, health, critical minerals and emerging technologies, and to explore joint degree programmes, mutual recognition of qualifications, and increased mobility for students and faculty.
The leaders exchanged views on regional and global issues, with Prime Minister Støre reiterating Norway’s support for India’s bid for permanent membership in a reformed UN Security Council. Both leaders unequivocally condemned terrorism, including cross-border terrorism, and called for coordinated international action. They noted potential in defence cooperation and defence-industrial collaboration, agreed to explore third-country cooperation in digital public goods, and asked ministries to form a Joint Working Group on Digitalization to accelerate the digital transition.
