What to Expect from PM Modi's Upcoming Visit to Norway: Strengthening Ties in Maritime and Green Energy

Strengthening India-Norway Relations

New Delhi: India and Norway are actively seeking to enhance collaboration in various sectors, including maritime, renewable energy, and startups. The forthcoming visit of Prime Minister Narendra Modi to Oslo is expected to further solidify these bilateral relations, according to May-Elin Stener, the Norwegian Ambassador to India.

In the past decade, the presence of Norwegian businesses in India has seen a significant increase, with the number of companies doubling.

Currently, approximately 160 Norwegian firms are operating in India, focusing on innovative solutions and investment opportunities in energy, maritime, and the circular economy, Stener mentioned.

Notably, around 70% of these companies are engaged in the maritime industry.

Stener emphasized Norway's strong maritime heritage and India's ambitious maritime goals, highlighting the potential for collaboration in this area. She noted that the Indian government has set forth plans to enhance shipbuilding capabilities within the country.

Over the last ten years, India's maritime sector has experienced substantial growth in capacity, connectivity, and operational efficiency, aided by the government's 'Sagarmala' initiative, which aims to modernize ports and improve cargo handling.

Recently, the Union Cabinet, led by PM Modi, sanctioned Rs 69,725 crore to rejuvenate India's shipbuilding and maritime framework.

Stener pointed out that currently, 10% of ships commissioned by Norway are being constructed in India.

If asked to identify the sector with the most promise, she would undoubtedly highlight the maritime industry.

In terms of green energy, Norway is already providing support to India and is eager to expand this assistance.

As an energy superpower, Norway has been harnessing oil and gas resources since the 1970s and is now transitioning towards a sustainable future. Norwegian companies are eager to share their technological advancements with Indian partners to aid in this transition.

Stener expressed admiration for India's vibrant startup ecosystem, noting the remarkable innovation occurring within it.

Norwegian startups are keenly observing these developments and are looking for ways to contribute through enhanced research collaboration and business partnerships during the Oslo visit.

PM Modi's trip to Norway is scheduled for May 18-19, coinciding with the third India-Nordic Summit and various bilateral discussions. This marks his inaugural visit to Norway and the first by an Indian Prime Minister in 43 years.

During his visit, PM Modi will also participate in the India-Norway Business and Research Summit alongside the Norwegian Prime Minister.