India-Nordic Green Technology Partnership
India and the Nordic countries have agreed to transform their ties into a Green Technology Partnership, focusing on innovation and sustainability. This collaboration aims to strengthen their strategic relationship by leveraging each country's strengths in various sectors.
Key Areas of Collaboration
- Iceland: Expertise in geothermal energy and fisheries.
- Norway: Strengths in the Blue Economy and Arctic affairs.
- Sweden: Advanced manufacturing and defense capabilities.
- Finland: Telecommunications and digital technologies.
- Denmark: Cybersecurity and health-tech.
- India: A large talent pool to develop and implement trusted solutions globally.
Research and Innovation
The partnership emphasizes extensive ties in research and innovation, aiming to enhance linkages among universities, laboratories, and start-up ecosystems. This also includes deepening cooperation in Arctic and polar research, and developing opportunities for skill development and talent mobility.
Global Order and Stability
In the current global context of tensions and conflicts, India and the Nordic nations reaffirm their commitment to a rules-based global order. They support efforts towards peace in regions such as Ukraine and West Asia.
Shift in Global Partnerships
European nations have emerged as reliable partners for India, moving past hesitations and seeking greater cooperation in investments and technology. This is contrasted with the unpredictability associated with previous U.S. administration policies.
Statements from Nordic Leaders
- Norway's Prime Minister: Emphasized the need for cooperation between democracies to address global challenges.
- Denmark's Prime Minister: Highlighted the importance of a rule-based world order and collaboration with India for stability and prosperity.
- Sweden's Prime Minister: Focused on innovation, scale, and long-term reliable relations.
- Finland's Prime Minister: Discussed the geopolitical shifts and the importance of strengthening partnerships based on shared democratic values.
- Iceland's Prime Minister: Spoke about the collaborative spirit and the importance of maintaining open channels for dialogue and trade.
Economic Engagement
Trade between India and the Nordic countries has nearly quadrupled over the last decade, with investments from the Nordic region into India increasing by approximately 200%. The Trade and Economic Partnership Agreement with Norway, Iceland, and other EFTA nations, along with the India-European Union Free Trade Agreement, is poised to usher in a new era of economic cooperation.
Commitment to Multilateralism and Counter-Terrorism
Both India and the Nordic countries see the reform of multilateral institutions as necessary and urgent. They maintain a united stance on terrorism, advocating for no compromise or double standards.
Shared Values and Cultural Connections
Prime Minister Modi emphasized the shared commitment to democracy, the rule of law, and multilateralism between India and the Nordic nations. The term ‘Samband’ represents the deep connection, shared ideas, and the linguistic bond that underpins the partnership.
Trade Figures
- India-Nordic trade in goods and services reached USD 19 billion in 2024.
- Over 700 Nordic companies operate in India and 150 Indian companies are present in the Nordic region.
