Indian Prime Minister Narendra Modi called for increased Norwegian investment during the India-Norway Business and Research Summit in Oslo on Monday.
This push for capital aims to strengthen economic ties between the two nations under the India-EFTA Trade and Economic Partnership Agreement. The initiative focuses on green growth, and development cooperation intended to benefit the Global South.
During the summit, Modi said he set a target of $100 billion [1] in investment. This financial goal is paired with a target to create one million jobs [2] through these expanded economic partnerships.
The event in Oslo featured representatives from more than 50 companies [3]. These discussions are part of a broader diplomatic effort, as the prime minister's current tour includes five nations [4].
Modi said the importance of fostering green growth and economic collaboration is key. The two countries also signed a triangular development cooperation agreement to support developing nations in the Global South.
This cooperation aligns with broader goals to integrate sustainable technology, and research into industrial growth. By leveraging Norwegian capital and Indian labor and markets, the partnership seeks to create a scalable model for green development.
“Modi set a target of $100 billion in investment.”
The scale of the $100 billion target indicates India's strategic pivot toward attracting high-tech, sustainable capital from European partners to fuel its domestic employment goals. By linking this investment to the Global South via a triangular agreement, India is positioning itself as a bridge between Western capital and developing economies.
