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Context: Recently, Norway’s Ambassador to India has reported that the bilateral trade between India and Norway has doubled to $2 billion in the last two years.

 

Details:

• Norway would invest $1 billion from its climate investment fund in five years worldwide, how much of the funds would be invested in India would depend on the projects.
• Norway is working with the National Institute of Wind Energy for Wind Energy related projects. However, the problem in India is that only Tamil Nadu and Gujarat had stable wind to make it viable.
• Norway is working closely with India to find a way to get enough countries to ratify the Hong Kong Convention.

 

Background:

• As early as the 1600s, a Danish-Norwegian trading station was established in Tranquebar (Tharangambadi), which today lies in the Indian state of Tamil Nadu.
• Norway’s first Consulates in India opened in Kolkata and Mumbai in 1845 and 1857, respectively.
• In 1952, the “India fund” was established” with the aim to provide development assistance with a focus on fisheries. The same year, Norway opened its Embassy in New Delhi.
• The Consulate General in Mumbai re-opened its doors in 2015. It had been closed since the 1970s.
• In December 2018, the Norwegian government launched a new ‘India Strategy’. The strategy sets clear priorities for the Norwegian government until 2030 and gives renewed impetus to develop our bilateral cooperation.
• The India Strategy outlines five thematic priorities:

1. Democracy and a rules-based world order
2. The oceans
3. Energy
4. Climate and Environment
5. Research, higher education and global health

 

Democracy and a rules-based world order

Norway and India both prioritise stability and predictability. Norway seeks to cooperate with India to strengthen the multilateral governance systems, the international trading system and the international legal order, not least regarding the oceans.

 

The oceans

Norway and India are both ocean nations seeking to develop the vast economic, scientific and ecological potential of the oceans. In 2019, Norway and India signed a Memorandum of Understanding (MoU) establishing a structured and strategic cooperation on the oceans.

 

Energy

The Indo-Norwegian cooperation on energy aims to develop energy sources that power economic growth, alleviate poverty, and foster peace and prosperity. Promoting access to clean and sustainable energy while combating climate change is a key concern for both countries. Norway is eager to work with India to achieve the Indian government’s ambitious targets for its transition to a green economy.

Climate and Environment

Norway considers India a critical partner in addressing global climate, environment and resource challenges, and continuously seeks to increase cooperation in support of the Paris agreement and the SDG-agenda.

 

Research, higher education and global health

Norway’s research cooperation with India has seen impressive growth in the last few years. With more than 100 ongoing joint projects, the research program with India is largest in Asia. In 2010, the Research Council of Norway established the Norwegian Program for Research Cooperation with India (INDNOR) to strengthen and promote cooperation between Norway and India on research and research funding.

 

India is also one of six priority countries identified by Norway for cooperation on higher education and research in the Panorama strategy (Strategy for cooperation on higher education and research with Brazil, China, India, Japan, Russia and South Africa (2016–2020)). At the heart of this cooperation are thematic areas relating to the oceans, such as climate change, the environment, marine research, the maritime sector and polar research.

 

India is also a central theme in the Research Council of Norway’s domestic program on international relations, foreign policy and Norwegian interests (UTENRIKS) under the focus area ‘Asia in transition’.

 

Since 2006, Norway has collaborated with India on the development of innovative models for improving maternal and child health

 

Business cooperation

In 2019, an agreement to establish an Indo-Norwegian Dialogue on Trade and Investments was signed between our two countries. Norwegian investment interests in India are increasing, in particular in ocean related areas. As of 2019, more than 100 Norwegian companies have established themselves in India. Another 50 are represented by agents. The Norwegian Pension Fund Global is likely one of India’s largest single foreign investors. In 2019, its investments amounted to USD 9.5 billion.

 

The Norwegian Business Association (India) (NBAI) was established in 2013. It aims to promote bilateral relationships and promote business in general between India and Norway.

https://www.thehindu.com/news/national/tamil-nadu/bilateral-trade-with-india-doubled-to-2-billion-in-the-past-two-years-says-ambassador-of-norway/article66135703.ece