India and Nordic Countries Establish Green Technology Partnership
India, Nordic nations forge Green Technology and Innovation Partnership
Asianet Newsable
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India and Nordic nations have established a 'Green Technology and Innovation Strategic Partnership' following the 3rd India-Nordic Summit in Oslo. This partnership aims to enhance cooperation in clean technologies, sustainable shipping, and digital innovation, reflecting a shared commitment to addressing global challenges and advancing economic ties.
- 01The combined economy of Nordic countries exceeds $2 trillion USD, focusing on clean tech and sustainability.
- 02Over 700 Nordic companies operate in India, while around 150 Indian companies are present in the Nordic region.
- 03The summit emphasized the importance of the India-European Union Free Trade Agreement and the India-EFTA Trade and Economic Partnership Agreement.
- 04Prime Minister Modi invited Nordic countries to participate in the WAVES Summit in India next year.
- 05Nordic leaders expressed support for India's permanent membership in a reformed United Nations Security Council.
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India's relationship with Nordic countries has strengthened following the 3rd India-Nordic Summit held in Oslo, where leaders agreed to form a 'Green Technology and Innovation Strategic Partnership.' This initiative aims to leverage the Nordic nations' expertise in clean technologies, including renewable energy and digital solutions, to address global challenges. The combined economy of the Nordic countries is over $2 trillion USD, with significant investments in areas such as offshore wind and green hydrogen. The summit facilitated discussions on enhancing bilateral cooperation across various sectors, including agriculture, healthcare, and skill development, with over 700 Nordic companies operating in India. Prime Minister Narendra Modi emphasized India's readiness to support Nordic investors as the country strives for developed nation status by 2047 under the 'Viksit Bharat' vision. Additionally, the leaders condemned terrorism and discussed reforms in multilateral institutions, including the United Nations Security Council. The next summit is scheduled to take place in Helsinki, Finland.
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This partnership is expected to enhance India's technological capabilities and attract Nordic investments, benefiting sectors like clean energy and digital technology.
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