India And Nordic Countries Strengthen Strategic Partnership
India and the Nordic nations have agreed to significantly deepen economic and strategic cooperation, with Nordic countries committing to invest nearly $100 billion in India over the next 15 years.
The announcement came during the third India-Nordic Summit held in Oslo, where Prime Minister Narendra Modi met leaders from Norway, Denmark, Finland, Sweden and Iceland.
The summit concluded with multiple strategic outcomes aimed at expanding cooperation across trade, green technology, digital infrastructure, defence, education and clean energy.
According to India’s Ministry of External Affairs (MEA), India also offered 100% foreign direct investment (FDI) access to Nordic defence companies within India’s defence industrial corridors.
$100 Billion Investment Plan To Create One Million Jobs
India’s trade with Nordic countries stood at approximately $19 billion in 2024, but both sides now aim to dramatically scale economic engagement.
The countries committed themselves to leveraging agreements such as the India-European Union Free Trade Agreement, India-European Free Trade Association (EFTA), and the Trade and Economic Partnership Agreement (TEPA) to facilitate investments worth $100 billion over the next 15 years.
The proposed investments are expected to create nearly one million jobs across sectors including defence, manufacturing, green energy, digital infrastructure and advanced technologies.
Speaking at the summit, Modi said bilateral trade between India and Nordic nations has increased fourfold over the past decade, while investments from Nordic countries into India have risen nearly 200%.
Green Technology, AI And Digital Cooperation Gain Focus
A major highlight of the summit was the signing of a strategic partnership on green technology and innovation.
The agreement focuses on strengthening cooperation in clean energy transition, blue economy initiatives, sustainable trade and climate focused investments.
India and Iceland also discussed collaboration in geothermal energy and fisheries, while Sweden’s expertise in advanced manufacturing and defence, Finland’s strengths in telecom and digital technologies, and Denmark’s capabilities in cybersecurity and healthcare are expected to complement India’s technology talent and scale.
The summit also emphasized cooperation in artificial intelligence, STEM research, communication technologies and next-generation 6G infrastructure.
Industry experts believe the partnership reflects a growing convergence between Europe’s advanced industrial capabilities and India’s rapidly expanding technology ecosystem.
India-Nordic Cooperation Expands Beyond Trade
Beyond economics, India and the Nordic countries also discussed geopolitical and security issues including developments in West Asia and Ukraine.
The countries agreed to strengthen collaboration in maritime security, strategic technologies and resilient infrastructure as global geopolitical uncertainties continue rising.
The leaders also highlighted the strategic importance of the India-Middle East-Europe Economic Corridor (IMEC), which aims to connect India, the Middle East and Europe through modern transport, digital and energy infrastructure.
Modi also invited Nordic companies to increase investments in India’s clean energy, healthcare, fisheries and shipbuilding sectors.
He noted that nearly 10% of Norway’s ships are already built in India and proposed increasing that share to 25% over the next five years.
The summit underlined India’s growing importance as a long-term strategic and economic partner for Europe amid evolving global trade and technology realignments.
