**Executive Summary**
On May 18, 2026, Prime Minister Narendra Modi attended the India-Norway Business and Research Summit in Oslo to strengthen bilateral economic cooperation following the India-EFTA Trade and Economic Partnership Agreement (TEPA). The Summit focused on achieving a USD 100 billion investment target aimed at creating one million jobs in India. Key action items include forging new partnerships in green energy, maritime cooperation, and healthcare innovation.
**Key Points / Main Content**
**Economic Cooperation and Targets**
* **Investment Goal:** A target of USD 100 billion in investments under the TEPA framework has been set to drive economic growth.
* **Job Creation:** These investments are projected to create approximately one million jobs within India.
* **Trade Framework:** The summit capitalized on the momentum generated by the recent entry into force of the India-EFTA Trade and Economic Partnership Agreement.
**Sector-Specific Focus Areas**
* **Roundtable Discussions:** Specialized sessions were held on healthcare innovation, maritime cooperation, batteries and energy storage, digitalization, electrification, and wind energy.
* **Investment Priorities:** PM Modi invited Norwegian investment in the blue economy, shipbuilding, renewable energy, health-tech, critical minerals, and start-ups.
* **Green Transition:** India highlighted its expansion in green hydrogen, grid infrastructure, and clean energy, acknowledging Norway's leadership in maritime decarbonization and climate finance.
**India’s Value Proposition**
* **Growth Factors:** India highlighted its strong upward growth trajectory, demographic dividend, and talented youth.
* **Regulatory Environment:** The country showcased its investor-friendly regulatory framework, robust business practices, and the spirit of competitive federalism to attract foreign capital.
**Summit Outcomes**
* **Business Agreements:** The event concluded with the signing of multiple agreements between Indian and Norwegian companies and entities to formalize collaboration.
**Impact Analysis**
**Indian and Norwegian Business Communities**
**Impact**
Businesses benefit from a structured trade agreement (TEPA) and identified high-growth sectors for expansion, such as the blue economy and green transition.
**Action Required**
Communities must identify emerging areas for collaboration, forge new partnerships, and execute the recently signed business agreements.
**Indian Workforce**
**Impact**
The targeted USD 100 billion investment is expected to significantly boost employment opportunities across various technical and industrial sectors.
**Action Required**
The "aspirational youth" and workforce need to align with the requirements of the emerging sectors like renewable energy and health-tech to fill the projected one million new jobs.
**Research and Innovation Entities**
**Impact**
Increased focus on collaborative research in healthcare, digitalization, and energy storage provides a platform for technological exchange and innovation.
**Action Required**
Research communities must engage in ongoing dialogue and joint initiatives to address global challenges like maritime decarbonization and ocean sustainability.
Key Entities Referenced
India-EFTA Trade and Economic Partnership Agreement (TEPA): A comprehensive trade agreement aimed at achieving a $100 billion investment target and creating one million jobs in India through bilateral economic cooperation.
India-Norway Business and Research Summit: A high-level summit held in Oslo to strengthen economic cooperation, trade, and research partnerships between India and Norway across key sectors like green energy and the blue economy.
Narendra Modi: Prime Minister of India, who addressed the summit to promote India's green transition agenda and encourage Norwegian investments in critical minerals, renewable energy, and startups.
Jonas Gahr Støre: Prime Minister of Norway, who participated in the summit to discuss maritime decarbonization, ocean sustainability, and clean energy investments.
Oslo, Norway: The central location for the summit and roundtable sessions focusing on healthcare innovation, maritime cooperation, and energy storage systems.
Prime Minister's Office
Prime Minister attends the India-Norway
Business and Research Summit
Posted On: 18 MAY 2026 10:26PM by PIB Delhi
Prime Minister Shri Narendra Modi today attended the India-Norway Business and Research Summit at
Oslo. His Royal Highness Crown Prince Haakon and the Prime Minister of Norway, H.E. Jonas Gahr
Støre also participated in the Summit.
The Summit was attended by CEOs of over 50 companies and more than 250 participants from the
Norwegian and Indian business and research communities. The Summit marked the growing momentum
in bilateral economic cooperation following the coming into force of India-EFTA Trade and Economic
Partnership Agreement.
Prior to the high level Business and Research Summit, four roundtable sessions were organized across
different locations in Oslo, focusing on healthcare innovation, maritime cooperation, batteries and energy
storage systems, digitalization and electrification, and wind energy.
In his address, Prime Minister Modi appreciated the growth in bilateral trade and investments following
the entry into force of TEPA. He underlined that stakeholders on both sides should make efforts to achieve
the investment target of USD 100 billion under TEPA and consequent creation of one million jobs in
India. India’s strong upward growth trajectory, demographic dividend, talented and aspirational youth,
robust business practices, investor-friendly regulatory framework, and the spirit of competitive federalism.
He encouraged greater Norwegian investments in India in key sectors such as the blue economy,
shipbuilding, green transition, renewable energy, health-tech, critical minerals, and start-ups.
Prime Minister Modi also underscored India’s ambitious green transition agenda, emphasizing the
country’s scale, growing energy demands, climate commitments, and rapid expansion in renewable
energy, grid infrastructure, green hydrogen, and clean energy. He appreciated Norway’s global leadership
in clean energy investments, maritime decarbonization, ocean sustainability, and climate finance. Prime
Minister urged the business communities of both countries to forge new partnerships, identify emerging
areas of collaboration, and strengthen economic cooperation.
A number of business agreements between Indian and Norwegian companies and entities were signed
during the Summit.
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MJPS/SS/VJ
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