Oslo, Norway – May 19, 2026
Prime Minister Narendra Modi on Tuesday inaugurated the India-Norway Business Summit in Oslo and invited Norwegian companies and global investors to expand their presence in India, highlighting the country’s rapid economic growth, green transition, and investment-friendly policies.
During the high-profile visit, India and Norway also agreed to elevate their bilateral ties to a “Green Strategic Partnership,” marking a major step forward in cooperation on renewable energy, climate action, sustainable infrastructure, and maritime development.
The Norway visit comes shortly after PM Modi’s diplomatic engagements in Sweden and marks the first visit by an Indian prime minister to Norway in 43 years. The prime minister is also scheduled to participate in the third India-Nordic Summit in Oslo alongside leaders from Nordic nations.
PM Modi Highlights India’s Growing Economic Potential
Addressing business leaders, policymakers, and industry representatives at the summit, PM Narendra Modi emphasized India’s emergence as one of the world’s fastest-growing major economies and encouraged Norwegian firms to deepen partnerships across sectors such as green technology, clean energy, shipping, digital innovation, infrastructure, and manufacturing.
PM Modi said India’s economic reforms, expanding consumer market, digital transformation, and focus on sustainability make the country a highly attractive destination for long-term global investment.
He also highlighted India’s ambitious clean energy goals and efforts to build resilient supply chains in cooperation with trusted international partners.
Officials noted that economic relations between India and Norway have strengthened steadily in recent years. Bilateral trade between the two countries has now reached approximately $2.73 billion, while Norway’s sovereign wealth fund has invested nearly $28 billion in Indian markets.
Trade between India and the broader Nordic region is currently estimated at around $19 billion.
India and Norway Upgrade Ties to Green Strategic Partnership
India’s Ministry of External Affairs confirmed that the two countries agreed to elevate bilateral relations into a “Green Strategic Partnership,” reflecting shared priorities related to sustainable development and environmental cooperation.
Sibi George, Secretary (West) in the Ministry of External Affairs, said the upgraded partnership would provide a new strategic framework for collaboration in:
- Climate action
- Renewable energy
- Green technologies
- Sustainable infrastructure
- Clean transportation
- Strong and resilient supply chains
- Environmental innovation
Officials described the agreement as a major diplomatic milestone that aligns with both nations’ long-term sustainability goals and climate commitments.
The partnership is also expected to accelerate joint initiatives aimed at promoting low-carbon economic growth and environmentally responsible industrial development.
Strong Push for Blue Economy Cooperation
One of the major highlights of the visit was the growing focus on maritime and ocean-based cooperation between India and Norway.
According to the Ministry of External Affairs, Norway has decided to join the Indo-Pacific Oceans Initiative, strengthening collaboration in maritime security and sustainable ocean development.
Both countries agreed to expand cooperation in key Blue Economy sectors, including:
- Shipbuilding
- Green shipping technologies
- Port modernization
- Fisheries and aquaculture
- Maritime logistics
- Seafarer training
- Eco-friendly port infrastructure
- Ocean sustainability projects
The Blue Economy partnership is considered strategically important for India as it seeks to modernize its maritime infrastructure and strengthen trade connectivity across the Indo-Pacific region.
Norway, recognized globally for its expertise in maritime technology and sustainable shipping, is expected to play an important role in supporting India’s green maritime transition.
India Reaffirms Commitment to Rule-Based Global Order
During the visit, Sibi George also reiterated India’s commitment to international law and a rule-based global order.
He stated that India has consistently followed transparent procedures and legal frameworks in both domestic governance and international engagement.
“India has always believed in the rule of law and responsible global conduct,” George said, adding that the country’s approach on the global stage is rooted in transparency, accountability, and respect for international norms.
The remarks come at a time when India is increasingly positioning itself as a major voice in global diplomacy, sustainability, and economic cooperation.
India-Nordic Summit to Focus on Technology and Sustainability
Prime Minister Modi is also expected to attend the third India-Nordic Summit in Oslo, where discussions are likely to focus on:
- Green transition technologies
- Artificial intelligence and digital innovation
- Sustainable urban development
- Climate resilience
- Clean energy partnerships
- Arctic cooperation
- Supply chain resilience
The summit is expected to strengthen India’s engagement with Nordic countries, which are considered global leaders in sustainability, innovation, and clean technology.
Analysts believe the Norway visit reflects India’s broader strategy of deepening ties with advanced economies that can contribute to its clean energy transition, industrial modernization, and long-term economic growth.
Norway Investments Seen as Key for India’s Green Growth
Norway’s massive sovereign wealth fund remains one of the largest foreign institutional investors in India, with significant exposure across sectors including renewable energy, infrastructure, finance, and technology.
Experts believe stronger India-Norway cooperation could unlock new investment opportunities in:
- Offshore wind energy
- Green hydrogen
- Electric mobility
- Carbon capture technologies
- Sustainable shipping corridors
- Smart ports and logistics
Business leaders attending the summit described the relationship between the two countries as increasingly strategic, particularly at a time when global economies are focusing heavily on sustainability and climate-friendly investments.
Prime Minister Modi’s Norway visit is being viewed as an important diplomatic and economic engagement aimed at strengthening India’s partnerships with Nordic nations while advancing cooperation in green technology, sustainable development, maritime innovation, and long-term investment.
