“We have firm cooperation now with India on climate action, energy transition, particularly the maritime space; about 70% of Norwegian companies present in India are in the maritime sector, and they are also, of course, working on the greener solution,” Stener told ET ahead of the PM’s visit to Norway comprising a bilateral leg on May 18, followed by the third edition of the India-Nordic summit on May 19.
“This is a part of a longer trip to Europe,” the envoy said. “The main meeting will take place at the Oslo City Hall. The PM will also be received by the royal couple, King and Queen at their palace.”
Stener said Equinor, Norway’s biggest energy company, is exporting LPG to India. “They definitely want to have to have more exports into India, and they want to have more long term and predictable contracts,” she said.
The Norwegian envoy also pointed out that a major part of the bilateral visit will be celebrating the India-EFTA trade pact.
On the India-Nordic Summit in Oslo, the senior diplomat said, “We will be wanting to use the opportunity there to discuss global issues and how to promote sustainable development. I think all Nordic countries are very keen to support and to be part of the growth story that India is.”
“A lot has happened since Copenhagen in 2022 (second edition of the India-Nordic Summit). It has been four years ago,” she said. “And you know, this is a world where things are developing very quickly, including India’s stand on the world scene which has grown. India has become more important, may I say, in the last four years.” India’s economic and commercial ties with Norway have been on the upswing. There has been a spurt in trade, investments, transfer-of-technology, and other contacts. The current growth in Indo-Norwegian eco-commercial ties have been fuelled by common interest in sectors such as deep off-shore, shipping, hydro-electricity, information technology, bio-technology, and light consumer goods.
Norwegian IT companies are also looking at offshoring their business to India or investing in Indian startups.
Another booming industry in Norway, the maritime and shipping industry has also grown through its many business partnerships in India. The Joint Working Group Maritime has identified specific areas for further collaboration, such as coastal shipping and inland waterways, LNG-based shipping, cooperation in ports and sustainable shipping.