Prime Minister Narendra Modi, addressing the Norway‑India Business and Research Summit in Oslo on 18 May 2026, declared that his government is offering the best opportunities and incentives across key sectors to elevate manufacturing in India to the next level. This was also a message to Nordic countries in general.

He urged Norwegian companies to invest in India, emphasising that the country’s reform agenda and expanding economic base provide unmatched prospects for global investors. Modi highlighted that India’s Trade and Economic Partnership Agreement (TEPA) with the European Free Trade Association, implemented in October 2025, is a unique pact centred on talent, technology, and mutual trust.

He explained that the agreement aims to attract $100 billion in investment from EFTA countries over the next fifteen years and create one million jobs, describing these ambitious targets as achievable.

The Prime Minister underlined that India‑Norway ties are not merely a partnership of potential but a proven partnership. He expressed gratitude to Prime Minister Jonas Gahr Støre for hosting the summit and praised the strong foundation of cooperation between business and research communities of both nations.

PM Modi urged global business leaders to expand and deepen their engagement with India, noting that many CEOs have consistently participated in Vibrant Gujarat and other investor summits. He called for accelerating the pace of collaboration and setting higher goals, stressing that the present moment offers a unique opportunity to make bold decisions.

Modi also addressed global challenges, pointing out that food, fuel, and fertiliser security have become pressing issues worldwide. He cited examples of Indo‑Norwegian collaboration, including Orkla’s investment in India’s food sector, Equinor’s supply of LPG and LNG, and Yara’s contribution to fertiliser production.

He said India’s fast‑growing economy, expanding middle class, and clean energy ambitions present major opportunities for Norwegian companies, particularly in nutrition, health, and green energy. He noted that India has set a target of producing 500 gigawatts of clean energy and five million tons of green hydrogen by 2030, inviting Norway to become a key stakeholder in this future, especially given the priority investments of Norway’s Wealth Fund in clean energy.

Outlining India’s reform agenda, Modi stated that guided by the mantra of “Reform, Perform, and Transform,” the government has completely transformed India’s economic DNA over the past twelve years.

He highlighted next‑generation reforms in taxation, labour codes, and governance, alongside efforts to streamline compliance and enhance ease of doing business. He pointed to India’s shipbuilding sector as a shining example of strategic manufacturing, with clusters being developed to create an end‑to‑end ecosystem.

PM Modi noted that nearly 10 per cent of Norway’s ships are already built in India and challenged both sides to raise this figure to 25 per cent within five years. He invited Norwegian companies to leverage India’s policies, stability, and incentives to become major partners in maritime manufacturing, MRO, green shipping, and maritime services.

The Prime Minister further emphasised that India and Norway have elevated their ties to a Green Strategic Partnership, offering Norwegian companies full support in critical sectors such as critical minerals, artificial intelligence, cyber technology, space, and defence.

He highlighted ongoing “Lab‑To‑Lab,” “University‑to‑University,” and “Scientist‑to‑Scientist” partnerships, with India’s CSIR, start-up funds, and Norway’s research institutions actively enhancing cooperation.

PM Modi announced the establishment of a dedicated Trade Facilitation Desk within India’s Invest India initiative specifically for Norway, designed to make investment journeys smoother, faster, and more effective. He concluded by extending a warm invitation to Norwegian businesses to expand their scope and ambitions in India, assuring them of full support and declaring that the ball is now in their court.

This summit not only reinforced India’s strategic outreach to Norway but also positioned the Nordic nation as a vital partner in India’s manufacturing, clean energy, and innovation agenda.

By combining ambitious targets with bold reforms, Modi sought to project India as a global hub for sustainable growth, maritime manufacturing, and technological advancement, while deepening the India‑Norway partnership across economic and research domains.

ANI