Prime Minister Narendra Modi on Saturday urged Norwegian business to scale up investments in India and help realise an ambitious target of $100 billion under the Trade and Economic Partnership Agreement (TEPA), saying the inflows should contribute to the creation of one million jobs in India.
Summit in Oslo highlights trade, green transition and sectoral focus
Addressing the India–Norway Business and Research Summit in Oslo, the Prime Minister highlighted India’s demographic advantage, expanding renewable-energy capacity, and a business-friendly regulatory environment as attractors for capital. The summit was attended by Crown Prince Haakon, Norwegian Prime Minister Jonas Gahr Støre and more than 250 participants from the Norwegian and Indian business and research communities, the Ministry of External Affairs said.
Mr Modi identified priority sectors where Norwegian capital and technology could play a role. These included the blue economy and shipbuilding, the green transition including renewable energy and green hydrogen, health-tech, critical minerals, and start-ups. He also praised Norway’s strengths in maritime decarbonisation, ocean sustainability and climate finance.
What the government says about TEPA and next steps
The MEA said the summit underlined growing momentum in bilateral economic cooperation following the entry into force of the TEPA. A number of business agreements between Indian and Norwegian companies and entities were signed during the event, and four roundtable sessions were held across Oslo before the high-level meeting.
The Prime Minister urged business communities on both sides to form new partnerships and identify emerging collaboration areas. He linked the TEPA investment objective directly to job creation in India, urging stakeholders on both sides to work towards the $100 billion target and the attendant employment outcomes.
- Participants: More than 250 business and research delegates from Norway and India.
- Corporate presence: CEOs of over 50 companies attended the summit.
- Agreements: Multiple business pacts were signed between Indian and Norwegian entities during the summit.
| Metric | Figure |
|---|---|
| Investment target under TEPA | $100 billion |
| Jobs linked to target | 1,000,000 |
| Company CEOs present | Over 50 |
| Total participants | More than 250 |
What it means for businesses and the public
For Indian industry and job seekers, the Prime Minister’s pitch signals a push to convert diplomatic deals into concrete capital flows and employment across manufacturing, energy and services. For Norwegian firms, the summit highlighted large-scale opportunities in India’s energy transition, maritime sector and resource processing. For consumers, successful cooperation in areas such as health-tech and renewable energy could translate into improved services and broader access to clean power over time.
The MEA said the summit also featured roundtable sessions that explored practical cooperation pathways ahead of the high-level discussion. The emphasis on green technologies and maritime decarbonisation reflects both countries’ stated climate priorities and Norway’s comparative strengths in climate finance and ocean sustainability.
While the $100 billion target is aspirational and dependent on follow-up deals and implementation, the summit represents a step in operationalising TEPA and aligning business interests on both sides. Several business agreements signed at the event indicate initial momentum, though details of those pacts were not enumerated by the MEA in its summary.
The Prime Minister’s call for intensified Norwegian participation in sectors from shipbuilding to green hydrogen frames future India–Norway commercial ties as part of India’s broader industrial and climate goals, with the government pushing for measurable outcomes in investment and jobs.
