Third India-Nordic Summit
Source: PIB
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Overview
- News in Brief
- About India-Nordic Summit
- Relation with Each contries
- Third Nordic Summit
Why in the News?
The Third India-Nordic Summit, held in Oslo, on 19 May 2026, further advanced strategic partnership.
News in Brief
- Hosted by Norway.The
- Summit brought together the Prime Minister of India and the leaders of the five Nordic nations
- Aims to review bilateral ties and address contemporary global challenges.
5 Nordic nations are Denmark, Finland, Iceland, Norway, and Sweden.
About India-Nordic Summit
- India and the Nordic countries launched a multidimensional partnership during the First India-Nordic Summit in 2018.
Photo by Vidar Nordli-Mathisen on Unsplash - The partnership focuses on innovation, green technologies, clean energy, and sustainable development.
- It aims to support India’s
- Economic growth
- Promote sustainable development pathways
- Strengthen skilling
- Talent development and foster a vibrant innovation ecosystem.
- India can also leverage Nordic expertise and technology transfers through cooperation in renewable energy and climate action initiatives.
- The Third India-Nordic Summit focused on strengthened cooperation in trade, investment, digital innovation, and emerging technologies.
- Both sides also expanded collaboration in the blue economy, maritime cooperation, STEM research, resilient supply chains, and defence partnerships.
- Besides economic partnerships, India engages Nordic countries through the soft power tool of diplomacy.
Relation with Each contries
Denmark
- Bilateral trade :India and Denmark was USD 2.05 billion in 2025.
- India’s exports in goods to Denmark was valued at USD 1.06 billion and imports at USD 0.98 billion.
- Bilateral trade in services USD 4.25 billion; exports from India reached USD 1.9 billion and imports USD 2.3 billion in 2025.
- 40 Indian companies are present in Denmark in various sectors, including IT, renewable energy and engineering.
- Direct investment inflows from Denmark to India till 2024 was USD 1.413 billion.
- Indian community of around 21,000 in Denmark actively contributes across professions.
Finland
- Bilateral trade in goods with Finland was USD 1.017billion in 2024-25.
- Investment flows from India to Finland is over USD 2 billion.
- Finland’s Investments in India has increased to USD 4 billion.
- Indian community in Finland is around 33,000, with a strong presence in the IT sector.
Iceland
- Volume of bilateral trade with Iceland was USD 77.06million in 2024-25.
- India’s exports to Iceland were valued at USD 66.01 million and imports at USD 11.05 million in the same year.
Norway
- Bilateral trade between India and Norway was USD 1.05 billion in 2024-25.
- India exported goods worth US$ 630 million and imported goods worth US$ 420 million.
- Trade in services has been around USD 1 billion.
- Government Pension Fund Global (GPFG) of Norway has invested close to USD 28 billion.
- Indian community of around 30,000 people in Norway.
Sweden
- Bilateral trade between India and Sweden was USD 6.96 billion in 2024.
- Cumulative FDI equity inflows from Sweden from April 2000 to December 2024 was USD 2.596 billion.
- 280 Swedish companies have business presence in India.
- Indian diaspora of around 88,000 people staying in Sweden.
Third Nordic Summit
Under the initiative, India plans to,
- Collaborate with Iceland in geothermal energy and fisheries,
- Partner with Norway in the blue economy and Arctic cooperation, and
- Engage with Nordic nations in maritime and sustainability sectors.
India-EFTA TEPA: Impact on India-Nordic Relations
- The India EFTA TEPA will help to improve market access, reduce trade barriers, encourage trade and investment flows and integrate value chains.
- The FTA, along with a strong alliance with the Nordic countries, will support employment creation, innovation and sustainable development.
Research Collaboration in STEM Areas
- The research initiative will contribute to the creation of new employment opportunities, expansion of research and development (R&D), promotion of technology transfer, and strengthening of academic cooperation and research quality.
- Advancing research in next-generation communication technologies, including 6G, will further boost the digital economy and enhance the country’s digital infrastructure.
Cooperation in Blue Economy
- Cooperation in a strong blue economy strengthens economic growth while ensuring sustainability, creating jobs, enhancing trade, and supporting long-term environmental and climate resilience.
- Blue economy focuses on the sustainable use of ocean and marine resources.
- Cooperation in the blue economy also contributes to ensuring a stable and secure Indo-Pacific region by promoting sustainable use of ocean resources, strengthening maritime connectivity, and enhancing regional maritime security among partner countries.
Collaboration in Defence Production
- Developing Defence Industrial Collaboration by allowing 100% FDI in the Indian Defence Industrial Sector.
- It will help in technology transfer, research and innovation
- Boost domestic defence production, create more employment, increase exports and efficiency of defence production.
- Moreover, it will help to strengthen defence preparedness.
Initiatives in Climate Action
- The initiative in the space of climate change, is centred on mitigation.
- Cooperation in this field will not only help address climate-related challenges but also generate green employment opportunities, enhance bilateral trade, and attract greater investment.
- As a result, it will contribute to building a more sustainable economy and support long-term economic growth.
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