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Lekshmi MK
24 May 2026 |
What happened?
On 19 May, Indian Prime Minister Narendra Modi participated in the third India-Nordic Summit held in Oslo, Norway. The summit brought together leaders from the five Nordic countries, Denmark, Sweden, Finland, Iceland, and Norway, to discuss cooperation with India on different areas.
The summit concluded with a joint statement emphasizing stronger collaboration in clean energy, critical minerals, artificial intelligence, climate action, Arctic governance, and resilient supply chains. The leaders also collectively agreed to elevate India-Nordic ties into a “Trusted Green Technology and Innovation Strategic Partnership.”
What is the background?
1. A brief background to the Nordic countries
Located in Northern Europe, the Nordic countries include Denmark, Sweden, Norway, Finland, and Iceland. Despite their small populations, these countries possess significant global influence in areas such as renewable energy, maritime industries, climate governance, Arctic affairs, digital innovation, and sustainable development. The Nordic region is also strategically important due to its proximity to the Arctic and growing relevance in emerging geopolitical and connectivity discussions. For India, the Nordic countries represent important partners in various arenas.
2. A brief note on India-Nordic relations
India and the Nordic countries have maintained diplomatic and economic relations for several decades through cooperation in trade, shipping, renewable energy, technology, sustainability, education, and innovation. Over time, the relationship has gradually evolved from bilateral economic engagement to broader strategic and geopolitical cooperation. To institutionalize engagement between India and the Nordic region, the India-Nordic Summit mechanism was launched in 2018. The first India-Nordic Summit was held in Stockholm, Sweden, and focused on innovation, climate change, trade, and investment cooperation. In 2022, the second summit took place in Copenhagen, Denmark, emphasizing green partnerships, post-pandemic recovery, digital transformation, and sustainable development. The 2026 summit in Oslo reflects the continuing expansion and institutionalization of India–Nordic cooperation.
3. The Nordic countries hold significant economic and cultural importance for India
The Nordic countries hold growing economic and cultural significance for India due to expanding cooperation. India’s bilateral trade with the Nordic countries is estimated at USD 13 billion, covering sectors such as renewable energy, shipping, pharmaceuticals, engineering goods, information technology, clean technologies, and maritime industries. The implementation of the India-EFTA Trade and Economic Partnership Agreement (TEPA) in 2025 is further expected to facilitate nearly USD 100 billion in investments in India over the next fifteen years. Nordic countries also possess advanced expertise in green technologies, sustainable industrial models, and maritime sectors that complement India’s developmental priorities. Additionally, the presence of an expanding Indian diaspora, including students, professionals, researchers, and skilled workers, has contributed towards strengthening people-to-people, educational, and cultural ties between India and the Nordic region.
4. Strategic importance of the Nordic to India
The Nordic countries are becoming increasingly strategically important to India because of their growing cooperation in climate change mitigation, sustainable development, Arctic governance, and emerging geopolitical issues. Nordic countries are global leaders in renewable energy, environmental sustainability, climate governance, and green technologies, making them important partners for India’s clean energy transition and climate action goals. Another important dimension is Arctic and polar research. Due to their geographical proximity and active involvement in Arctic governance, the Nordic countries play a major role in climate science, marine research, and sustainable resource management. India’s interest in the Arctic has also increased because of the impact of melting ice caps on global climate systems, maritime routes, biodiversity, and the Indian monsoon. Cooperation with Nordic countries therefore supports India’s scientific research, climate diplomacy, and long-term strategic understanding of the rapidly changing Arctic region.
What does it mean?
First, the Arctic is becoming increasingly important to India. Developments in the Arctic directly influence global climate systems, including the Indian monsoon and environmental sustainability. Cooperation with the Nordic countries therefore provides India greater access to Arctic research, climate science, marine studies, and polar governance discussions.
Second, the summit demonstrates how climate change and sustainability are increasingly shaping contemporary international relations and strategic partnerships.
Third, the summit reflects India’s broader strategy of diversifying its strategic and economic partnerships beyond traditional major powers. By deepening engagement with technologically advanced and sustainability-driven Nordic countries, India seeks to strengthen cooperation in multiple arenas, especially trade.
Fourth, the Nordic countries view India as an increasingly important economic and strategic partner. India offers access to one of the world’s fastest-growing major markets, a large skilled workforce, an expanding digital economy, and significant opportunities in renewable energy, technology, manufacturing, and infrastructure sectors. Amid growing geopolitical uncertainties and supply chain vulnerabilities, Nordic countries are also seeking to diversify economic partnerships and reduce excessive dependence on concentrated markets.
