As Nordic countries are pioneers in green technologies, Nordics and India can together power the green transition the world needs.
Nordic & Scandinavian Region
Nordic Countries consists of
Denmark
Norway
Sweden
Finland
Iceland
Other regions include
Faroe Islands
Greenland
Åland
Geographically, there are 3 Scandinavian countries (Denmark, Sweden, and Norway).
Culturally, there are 6 Scandinavian countries Denmark, Sweden, Norway, Iceland, Finland and The Faroe Islands.
What about India-Nordic Connect?
Areas of Cooperation - At the Nordic-India Summit held in Copenhagen in 2022, the Nordic countries and India agreed to intensify cooperation on digitalisation, renewable energy, maritime industries and the circular economy.
Trade - India has grown to become a priority country for Finland.
Finland opened a new Consulate General in Mumbai that will increase the number of Nordic representations in India’s commercial capital.
Finnish companies such as Nokia and Fortum see India as their largest growth market.
Trade between Norway and India has doubled in the last three years.
The Norwegian Sovereign Wealth Fund is likely to become one of India’s largest single foreign investors.
Both Norway and Finland have ongoing free trade agreement and investments negotiations (FTA) with India.
Finland, as a member of the European Union (EU), is a part of the EU-India FTA negotiations, and Norway is negotiating through the European Free Trade Association.
Strategic partnership - In 2020, India and Denmark elevated their relations to a Green Strategic Partnership to advance political cooperation, expand economic relations and green growth, create jobs and strengthen cooperation on addressing global challenges.
Environment - The Norwegian government has also recently established a new Climate Investment Fund for investment in renewables abroad, and almost Rs 1,500 crore have been invested so far in India.
Leadership for Industry Transition (LeadIT)that focuses on low carbon transition of the industrial sector was launched by Sweden and India at the UN Climate Action Summit, 2019.
As India takes rapid strides into a green, digital, and innovative future, Nordic countries such as Finland and Norway stand ready to share experiences and be a part of India’s transition.
