Finance
Prime Minister Narendra Modi has announced that India’s collaboration with the Nordic countries will be upgraded to a Green Technology and Innovation Strategic collaboration. At a joint news conference following the 3rd India-Nordic Summit, the Prime Minister stated that India and the Nordic region can combine Nordic knowledge in sustainability with India’s scale to produce trusted global solutions for the future.
The Prime Minister emphasized the consistent strengthening of India-Nordic relations, adding that commerce has increased fourfold over the last decade, while investments from Nordic nations in India have climbed by around 200 percent. He noted that this expansion has not only aided India’s development, but has also created job possibilities in Nordic countries.
The Prime Minister stated that the enhanced relationship will focus on utilizing the assets of each Nordic country. He pointed out that Iceland contributes competence in geothermal energy and fisheries, Norway in the blue economy and Arctic issues, Sweden in advanced manufacturing and defence, Finland in telecommunications and digital technology, and Denmark in cybersecurity and health technologies. He stated that collaboration between universities, laboratories, and start-up ecosystems is enhancing research, skill development, and talent mobility.
Referring to shared cultural connections, the Prime Minister highlighted that the word “Sambandh,” meaning relations, is widespread in Indian and Nordic languages, and expressed optimism that this would lead to deeper and more meaningful ties in the future.
In their statements, the Nordic leaders underlined their commitment to democracy, a rules-based global order, and multilateral institutional change. They also advocated for greater cooperation with India in solving global concerns such as violence and disruption.
On global problems, the Prime Minister emphasized India’s support for the end of conflicts in Ukraine and Western Asia. He also emphasized that India and the Nordic countries have a strong stance against terrorism, with no tolerance for double standards.
The Summit concluded with both parties expressing optimism that the India-Nordic collaboration will serve as a paradigm for shared prosperity, innovation, and long-term development.
