India-Nordic Summit
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Context
- On May 4, 2022, Prime Minister Narendra Modi took part in the 2nd India-Nordic Summit.
- The conference was also attended by the prime ministers of Denmark, Iceland, Finland, Sweden, and Norway.
- Denmark is the host country for the summit.
What is the Background?
- The first India-Nordic Summit was held in Stockholm in 2018.
- The second summit, which was originally slated for June 2021, has been rescheduled.
- The six nations' commitment to global security, economic growth, innovation, and climate change was reaffirmed at the 2018 India-Nordic Summit.
Why Nordic countries are important for India?
- The Nordic countries have a combined economy of more than $1.6 trillion.
- India and the Nordic nations have a total trade volume of $13 billion in products and services.
- All of these nations are among the highest achievers in a variety of fields, including innovation, renewable energy, green technology, and education.
What is the significance?
- The importance of this gathering for India may be gauged by the fact that the United States is the only other country with which the Nordic states have a summit-level relationship.
- The India Nordic Summit contributes to the expansion of India's diverse collaboration with the Nordic area.
- The topics discussed at this year's conference included post-pandemic economic recovery, climate change, innovation and technology, renewable energy, the developing global security picture, and India-Nordic collaboration in the Arctic.
- In the areas of sustainability, renewable energy, digitalisation, and innovation, the Nordic nations are essential partners for India.
- The Summit's main focus was on how to go forward with the bilateral engagement agenda between India and the Nordic nations.
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