Prime Minister Narendra Modi called for stronger economic cooperation between India and European nations under the India-EFTA Trade and Economic Partnership Agreement (TEPA) during the India-Norway Business and Research Summit held in Oslo. The summit marked another important step in strengthening ties between India and Norway after successful bilateral discussions between the leaders of both nations.
The event was attended by Norwegian Prime Minister Jonas Gahr Støre, Crown Prince Haakon, business leaders, policymakers, and research communities from both countries. More than 50 CEOs and over 250 participants joined the summit to discuss investment opportunities, innovation, sustainability, and future collaborations between India and Norway.
During his address, PM Modi highlighted the positive growth in trade and investment after the implementation of TEPA. He urged industries and investors from both sides to work toward achieving the ambitious target of 100 billion US dollars in investments and creating one million jobs in India. According to him, India offers one of the most business-friendly environments in the world due to its skilled youth population, strong economic growth, investor-friendly policies, and improving infrastructure.
The Prime Minister said India’s demographic advantage and competitive federal system make it an attractive destination for global investors. He encouraged Norwegian companies to increase investments in sectors such as renewable energy, green technology, healthcare innovation, shipbuilding, critical minerals, blue economy projects, startups, and health-tech industries. PM Modi stressed that India’s rapidly growing economy provides immense opportunities for international businesses looking for long-term partnerships.
Highlighting the upgraded Green Strategic Partnership between India and Norway, PM Modi spoke about India’s commitment toward sustainable development and clean energy transition. He explained that India is rapidly expanding renewable energy projects, grid infrastructure, green hydrogen initiatives, and clean energy production to meet future energy demands while also addressing climate change concerns.
The Prime Minister praised Norway for its leadership in areas such as maritime decarbonisation, clean energy investments, climate finance, and ocean sustainability. He invited Norwegian businesses to collaborate with Indian industries by combining Norway’s advanced expertise with India’s large-scale opportunities in the green and blue economy sectors.
Several agreements were also signed between companies and government bodies from both nations during the summit. These agreements covered important sectors including space cooperation, digital public infrastructure, advanced technology, sustainability, healthcare innovation, and tunnelling technology. Officials believe these partnerships will further strengthen economic and technological cooperation between India and Norway.
Later, Ministry of External Affairs Secretary Sibi George described the visit as highly productive and important for expanding bilateral relations. He stated that cooperation in green energy, blue economy projects, and sustainable technologies would not only boost investments but also create employment opportunities and improve India’s energy security goals.
According to the Ministry of External Affairs, the summit showcased the growing momentum in India-Norway economic relations after TEPA came into effect. Several roundtable discussions were also organised focusing on healthcare innovation, maritime partnerships, energy storage systems, digitalisation, electrification, and wind energy development. The summit reflected the shared vision of both countries to build stronger trade, technology, and talent partnerships for the future.
