PM Discusses Trade, Green Energy With Nordic Counterparts

Oslo: Prime Minister Narendra Modi on Tuesday discussed ways to further strengthen bilateral ties in areas such as clean energy, trade, sustainability and digitalisation during separate meetings with his counterparts from Iceland, Finland and Denmark. The prime minister held the meetings ahead of the 3rd India-Nordic Summit.

During his talks with Iceland Prime Minister Kristrun Frostadottir, Finland Prime Minister Petteri Orpo and Denmark Prime Minister Mette Frederiksen, PM Modi discussed the overall trajectory of bilateral relations between India and the three Nordic nations.

"Had a wonderful meeting with Prime Minister Kristrun Frostadottir of Iceland. India deeply values the friendship with Iceland," Modi said in a social media post after the meeting with the Icelandic premier.

He said the two sides discussed ways to improve ties in areas such as clean energy, fisheries, sustainability, geothermal energy and carbon capture and storage.

"Iceland's prowess in sectors relating to the Blue Economy is admirable. We are hopeful that the historic India-EFTA TEPA will give an impetus to trade and investment linkages as well," Modi said.

According to Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal, the discussions held on the sidelines of the 3rd India-Nordic Summit in Oslo between Modi and Frostadottir also covered renewable energy, innovation, digital technologies, creative economy, Arctic cooperation and people-to-people exchanges.

"The leaders also exchanged views on regional and global issues of mutual concern," he said in a social media post.

In a separate meeting with Finnish Prime Minister Orpo, Modi discussed enhancing cooperation in trade and investment, digitalisation, artificial intelligence, 5G and 6G, quantum technologies, sustainability, renewable energy and circular economy.

They also discussed innovation, education, mobility and people-to-people ties, Jaiswal said.

The two leaders "underlined the importance of the early entry into force of the India-European Union Free Trade Agreement" and exchanged views on regional and global issues of mutual concern, he said.

"This year has witnessed extensive engagements as far as India and Finland are concerned. PM Orpo himself had come to India for the AI Impact Summit. Our meeting today is aimed at giving new energy to bilateral relations," Modi said in a post on X after the meeting.

The prime minister also held a "fruitful" meeting with his Danish counterpart. "The India-Denmark friendship has been making remarkable progress over the recent years," Modi said in a separate post on X.

The two leaders discussed areas of cooperation including renewable energy, climate action, water management, green shipping, digitalisation and food processing.

"The coming years can see similar synergy in FinTech, industries, defence, innovation and more. Invited Danish pension funds to expand their investments in India. We are very confident that the India-EU Free Trade Agreement will have a major impact on both our economies," Modi said.

MEA spokesperson Jaiswal said that during the meeting, both sides affirmed their "strong support for bilateral relations under the Green Strategic Partnership".

"They noted that Danish investments and technologies can be scaled up in India for the mutual benefit of both countries. The leaders also exchanged perspectives on key regional and global issues," he said in a social media post.

The Nordic countries refer to a geopolitical and cultural region in Northern Europe and the North Atlantic. It comprises Denmark, Finland, Iceland, Norway and Sweden.

The five Nordic nations have a combined GDP exceeding USD 1.9 trillion and lead global benchmarks in renewable energy and sustainable ocean governance.

Oslo is hosting the 3rd India-Nordic Summit, bringing together Modi and the leaders of Norway, Denmark, Finland, Iceland and Sweden.

The summit is expected to build on the previous India-Nordic Summits held in Stockholm in 2018 and Copenhagen in 2022 and impart a greater strategic dimension to India's engagement with the Nordic countries in areas such as technology and innovation, green transition and renewable energy, sustainability, blue economy, defence, space and the Arctic, officials said.

Modi arrived in Norway from Sweden on Monday as part of his five-nation tour.

The prime minister is on a tour of the UAE, the Netherlands, Sweden, Norway and Italy from May 15-20.

From Norway, Modi will travel to Italy in the final leg of his visit.

According to the website of the Indian Embassy in Reykjavik, India and Iceland share close cultural ties, with Icelanders showing keen interest in Indian culture, including yoga, classical music, dance, films and cuisine. Around 600 Indian nationals are currently living in Iceland.

The two countries also maintain strong business partnerships with Icelandic firms such as Ossur, Verkis, Alvotech and Marel, having a presence in India.

The bilateral economic partnership received a boost after the signing of the Trade and Economic Partnership Agreement (TEPA) between India and the European Free Trade Association (EFTA) in New Delhi in March 2024. Iceland is one of the four EFTA members, along with Switzerland, Liechtenstein and Norway.

According to the Indian Embassy's website in Helsinki, over 100 Finnish companies have operations in India. Large Finnish firms such as Nokia, Kone Elevators, Metso Outotec, Wartsila, UPM, Lindstrom, Fortum, Ahlstrom and Elcoteq have manufacturing facilities in India.

There are around 33,445 persons of Indian origin living in Finland, including about 15,115 Non-Resident Indians and 18,330 Overseas Citizens of India. Around 2,400 Indian students are pursuing higher education in Finnish universities.

Around 200 Danish companies have invested in India in sectors such as shipping, renewable energy, environment, agriculture, food processing and smart urban development, according to the Indian Embassy in Copenhagen.

Several major Danish companies have built new manufacturing factories under the 'Make in India' scheme.

Major investors from Denmark include shipping giant AP Moller-Maersk Group, which handles around 19 per cent of India's container trade.

The Indian community in Denmark is estimated at around 22,000 and includes IT professionals, doctors, engineers, finance professionals, academics and students.