Modi Highlights India’s Growth Potential at Oslo Business Summit

Prime Minister Narendra Modi attended the India-Norway Business and Research Summit in Oslo, where he emphasized the growing economic partnership between India and Norway and encouraged stronger collaboration in trade, innovation, and green technology sectors.

The Summit was also attended by Haakon and Jonas Gahr Støre, along with business leaders, researchers, and policymakers from both countries.

Addressing the gathering, Prime Minister Modi appreciated the rise in bilateral trade and investments after the implementation of the Trade and Economic Partnership Agreement (TEPA). He called upon stakeholders from India and Norway to work towards achieving the ambitious target of 100 billion US dollars in investments under the agreement and the creation of one million jobs in India.

Highlighting India’s economic strengths, Modi pointed to the country’s rapid growth trajectory, large youth population, strong entrepreneurial ecosystem, and investor-friendly regulatory framework. He invited Norwegian companies to expand investments in India in sectors including the blue economy, shipbuilding, renewable energy, green transition, health technology, critical minerals, and start-ups.

Prime Minister Modi also underlined India’s commitment to clean energy and sustainable development. He spoke about India’s rapidly expanding renewable energy capacity, grid infrastructure modernization, green hydrogen initiatives, and broader climate commitments aimed at accelerating the country’s energy transition.

Praising Norway’s leadership in clean energy investments, maritime decarbonisation, ocean sustainability, and climate finance, Modi urged businesses from both countries to build new partnerships and identify emerging areas for cooperation.

The Summit witnessed participation from CEOs of more than 50 companies and over 250 representatives from the Indian and Norwegian business and research communities. Several agreements between Indian and Norwegian firms were also signed during the event, reflecting the growing momentum in bilateral economic ties following the India-EFTA Trade and Economic Partnership Agreement.

Ahead of the main summit, a series of roundtable discussions were organised across Oslo focusing on healthcare innovation, maritime cooperation, energy storage systems, digitalisation, electrification, and wind energy development.

Key Focus Areas Discussed