The recent visit of Erna Solberg, the Prime Minister of Norway, to India has culminated in a number of key agreements between the two nations. This visit included her delivering the inaugural address at the Raisina Dialogue and inaugurating the India-Norway Business Summit.
Outcomes of the Visit
In what can be deemed as a productive visit, a Memorandum of Understanding (MoU) on the India-Norway Ocean Dialogue was signed. A joint task force dedicated to focusing on the blue economy was also established during this visit. Both countries expressed their commitment to work together to achieve global Sustainable Development Goals (SDGs) and to combat climate change.
Another important outcome was a mutual agreement upon the necessity for reform within the United Nations, specifically the UN Security Council. Norway endorsed India’s candidacy for a permanent seat in a reformed Security Council. Additionally, Norway also supported India’s application for membership of the Nuclear Suppliers’ Group (NSG), indicating an enhanced level of trust and cooperation between the two nations.
In a concerted effort to address global terrorism, both nations decided to urge other countries for the early finalization of the Comprehensive Convention on International Terrorism (CCIT).
| Year | Total Bilateral Trade (in billion USD) |
|---|---|
| 2015-16 | 1.1 |
India-Norway Relations
Since diplomatic relations were established back in 1947, India and Norway have maintained a friendly and respectful relationship. Shared values such as democracy, human rights and the rule of law have been pillars of their partnership.
Over the years, the interactions between the two countries, particularly in the field of trade and technology, have increased significantly. Norway’s support for India’s membership to export control regimes, including the Missile Technology Control Regime (MTCR), the Wassenaar Arrangement (WA) and the Australia Group (AG), is indicative of their growing bond.
The Government Pension Fund Global of Norway has a portfolio investment of approximately $12 billion in India. A Double Taxation Avoidance Agreement (DTAA) was signed between the two countries in 1986 and revised in February 2011.
Another significant aspect shaping India-Norway relations involves the maritime industry. Given that 70% of Norway’s exports arise from its maritime industry, it can provide valuable insights into the Ocean Economy. This recent establishment of bilateral ocean dialogue could potentially add a new dimension to India-Norway relations and aid India in understanding the intricacies of the maritime industry.
Around 100 Norwegian companies are currently engaged in various sectors within India, ranging from shipbuilding to IT services. Companies like the Oil and Natural Gas Corporation (ONGC) and Reliance Industries from India have tie-ups with Norwegian businesses in the petroleum and energy sector.
The Arctic Missions and Raisina Dialogue
India has demonstrated interest in Norway’s arctic region, with three Arctic Missions visiting Norway in 2007, 2008 and 2009. India also operates the Polar Research Station “Himadri” in Ny Alesund, Spitsbergen Island, Norway.
The Raisina Dialogue is a significant multilateral conference that aims to address challenging global issues. This conference, hosted by the Observer Research Foundation in collaboration with the Government of India, Ministry of External Affairs, welcomed Prime Minister Solberg to deliver the inaugural address during her visit.
