Prime Minister Narendra Modi on Monday announced that India and Norway have elevated their relationship to a โGreen Strategic Partnershipโ, calling it a major step forward in cooperation between the two countries. Addressing the India-Norway Business and Research Summit in Oslo, PM Modi said Norwegian companies would receive full support from India in sectors such as critical minerals, artificial intelligence, cyber technology, space and defence.
The summit was also attended by Norwegian Prime Minister Jonas Gahr Store and Crown Prince Haakon Magnus.
PM Modi on Indiaโs clean energy pushย
In one of his strongest remarks during the summit, PM Modi said Indiaโs clean energy goals were unmatched globally. โNo one in the world can match Indiaโs aspirations in clean energy,โ he said, while highlighting Indiaโs target of producing 500 GW of clean energy and 5 million tonnes of green hydrogen by 2030.
The Prime Minister also pointed out that Norwayโs sovereign wealth fund has been actively investing in clean energy, creating opportunities for stronger collaboration between the two nations.
โIndiaโs economic DNA has changedโย
PM Modi also spoke about Indiaโs economic transformation over the last decade. Referring to reforms introduced by his government, he said India had completely changed its โeconomic DNAโ over the past 12 years.
He highlighted major reforms in taxation, labour laws and governance, adding that Indiaโs focus on โReform, Perform and Transformโ had helped create a more investor-friendly environment.
The summit saw participation from over 50 companies and more than 250 business and research leaders from India and Norway. Discussions focused on healthcare innovation, maritime cooperation, battery storage systems, digitalisation, electrification and wind energy.
PM Modi encourgage Norwegian companies to increase investments in sectors such as renewable energy, blue economy, shipbuilding, startups, health-tech and critical minerals. He also urged both sides to work towards achieving the investment target of USD 100 billion under the India-EFTA Trade and Economic Partnership Agreement (TEPA), which is expected to create one million jobs in India over time.
Norway calls trade deal ‘unique’ย
Norwegian Prime Minister Jonas Gahr Store described the India-EFTA trade agreement as โuniqueโ and said Norway had never before made such a major commitment towards expanding investments and supporting job creation in another country.
Store said India and Norway complement each other across several sectors and noted that multiple MoUs and business agreements were signed during the summit. He added that the growing partnership would create jobs and economic value in both countries.
A number of agreements between Indian and Norwegian companies were signed during the summit, reflecting growing momentum in bilateral economic ties after the India-EFTA trade agreement came into force.
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