Strengthening Global Partnerships: PM Modi’s Pivotal Engagement at the India-Norway Business and Research Summit

Prime Minister Narendra Modi’s visit to Oslo in May 2026 represented a significant step forward in India-Norway relations. By inaugurating the India-Norway Business and Research Summit and participating in the 3rd India-Nordic Summit, the Prime Minister highlighted the growing convergence between the world’s largest democracy and one of the most innovative Nordic economies. This was the first visit by an Indian Prime Minister to Norway in more than four decades, opening new avenues for collaboration in trade, technology, sustainability, and strategic sectors.

Image from News on Air

The India-Norway Business and Research Summit

The summit brought together high-level dignitaries, including Norway’s Crown Prince Haakon and Prime Minister Jonas Gahr Støre. In his address, Prime Minister Modi expressed appreciation for the steady rise in bilateral trade and investments since the implementation of the India-EFTA Trade and Economic Partnership Agreement (TEPA). He encouraged stakeholders from both countries to strive towards the agreement’s investment target of 100 billion US dollars, which is projected to generate around one million jobs in India over the coming years.

Prime Minister Modi drew attention to India’s robust economic fundamentals. These include a strong growth trajectory, a favourable demographic dividend, a talented and aspirational young population, sound business practices, an investor-friendly regulatory environment, and the spirit of competitive federalism. He invited Norwegian businesses to explore greater opportunities in key areas such as the blue economy, shipbuilding, green transition, renewable energy, health-tech, critical minerals, and startups.

The Prime Minister also elaborated on India’s ambitious climate and energy goals. With its vast scale, rising energy demands, and firm climate commitments, India is rapidly expanding its renewable energy capacity, grid infrastructure, green hydrogen production, and clean energy solutions. He commended Norway’s leadership in clean energy investments, maritime decarbonisation, ocean sustainability, and climate finance, and called upon business communities of both nations to forge innovative partnerships and identify emerging areas of cooperation.

The event witnessed enthusiastic participation, with CEOs from over 50 companies and more than 250 delegates from business and research communities. Preceding the main summit, focused roundtable sessions addressed critical domains including healthcare innovation, maritime cooperation, batteries and energy storage systems, digitalisation and electrification, and wind energy. Several business agreements were signed during the summit, underlining tangible progress in bilateral economic ties.

Broader Context: The 3rd India-Nordic Summit

Prime Minister Modi’s Norway visit formed part of a wider European tour that included engagements with multiple nations. In Oslo, he participated in the 3rd India-Nordic Summit alongside leaders from Denmark, Finland, Iceland, and Sweden. Building on previous summits held in Copenhagen in 2022 and Stockholm in 2018, this gathering focused on deepening cooperation across trade, innovation, sustainable development, and strategic domains.

During the visit, India and Norway elevated their bilateral relationship to a Green Strategic Partnership. This upgrade is expected to intensify collaboration in clean energy, climate action, maritime affairs, and related fields. The visit also saw Prime Minister Modi being conferred Norway’s highest civilian honour — the Grand Cross of the Royal Norwegian Order of Merit.

The Transformative Potential of the TEPA Agreement

The India-EFTA Trade and Economic Partnership Agreement, which entered into force in October 2025, stands as a landmark achievement. It is India’s first comprehensive trade agreement with European nations and features an unprecedented commitment from EFTA countries (Iceland, Liechtenstein, Norway, and Switzerland) to facilitate 100 billion US dollars in investments over 15 years. This pact aims to reduce tariffs, liberalize trade in services, promote sustainable development, and support India’s manufacturing and employment goals while providing enhanced market access for Norwegian and other EFTA businesses.

By aligning Norway’s expertise in advanced technologies and sustainable practices with India’s dynamic market and entrepreneurial spirit, TEPA creates a strong foundation for long-term mutual growth.

The MGMM Outlook 

Prime Minister Narendra Modi’s visit to Oslo marked an important milestone in the growing partnership between India and Norway, reflecting a shared commitment to economic growth, innovation, and sustainable development. The India-Norway Business and Research Summit showcased the complementary strengths of both nations, with India offering vast market opportunities, a dynamic workforce, and a rapidly expanding economy, while Norway contributes expertise in clean energy, maritime technology, sustainability, and advanced research. The emphasis on sectors such as renewable energy, green hydrogen, the blue economy, health-tech, and critical minerals highlights the strategic direction of this evolving relationship.

The summit also underscored the transformative potential of the India-EFTA Trade and Economic Partnership Agreement (TEPA), which is expected to drive significant investments, employment generation, and technological collaboration. The elevation of ties to a Green Strategic Partnership further demonstrates a long-term vision centered on climate action, innovation, and resilient economic cooperation. The growing engagement between India, Norway, and the broader Nordic region reflects a mutually beneficial framework that can accelerate sustainable growth, strengthen global competitiveness, and create new opportunities for businesses, researchers, and future generations.

(Sources: News on Air, Hindustan Times)