OSLO, May 19, 2026 – Prime Minister Narendra Modi addressed the India-Norway Business and Research Summit in Oslo, alongside Norwegian Prime Minister Jonas Gahr Støre and Crown Prince Haakon. The high-profile event aimed to bolster economic and research cooperation following the recent implementation of the Trade and Economic Partnership Agreement (TEPA) between India and the EFTA states.
The summit saw the participation of CEOs from over 50 companies and more than 250 representatives from the Indian and Norwegian business and research communities. During the event, 19 B2B Memorandums of Understanding (MoUs) were signed between Indian and Norwegian businesses, signaling a robust commitment to deepening bilateral ties.
Addressing the gathering, Prime Minister Modi highlighted the significant potential for growth in bilateral trade and investments under TEPA. He emphasized the shared goal of achieving a $100 billion investment target and the creation of one million jobs in India. Modi highlighted India’s rapid economic growth, demographic advantage, robust business practices, and investor-friendly regulatory framework as compelling reasons for Norwegian companies to invest.
1.Green Strategic Partnership:A focus on sustainable development.
PM Modi underscored India’s ambitious green transition agenda, aligning with the newly elevated “Green Strategic Partnership” between the two nations. This includes expanding renewable energy capacity, grid infrastructure, and green hydrogen initiatives.
2.Key Sectors for Investment:Opportunities for Norwegian expertise.
The Prime Minister invited Norwegian companies to leverage their expertise and invest in key Indian sectors, such as the blue economy, shipbuilding, green transition, renewable energy, health-tech, critical minerals, and startups.
3.Addressing Business Challenges:Improving the ease of doing business.
During candid discussions, Norwegian industry leaders raised concerns regarding regulatory hurdles and “ground-level challenges” in India. PM Modi acknowledged these points, reiterating the government’s commitment to streamlining processes and improving the ease of doing business.
The summit was preceded by four specialized roundtable sessions focusing on healthcare innovation, maritime cooperation, batteries and energy storage, and wind energy. The Ministry of External Affairs noted that the event marked a significant milestone in India-Norway relations, setting the stage for increased collaboration in technology, talent exchange, and sustainable development.
Published by True Roots Media Network