“The third India-Nordic summit saw the two sides upgrade their relationship to a green technology and inn-ovation strategic partnership and sign an agreement to leverage India-EU FTA and India-EFTA TEPA [free trade deal inked between India and the European Free Trade Association (EFTA) states—Iceland, Liechtenstein, Norway, and Switzerland], which envisages $100 billion investment into India and came into effect last year, for greater trade, technology and investment linkages.”
“As the PMs of Nordic countries – Denmark, Sweden, Finland, Iceland and Norway – held talks with PM Narendra Modi in Oslo, they also concluded six other agreements in areas like climate action, Arctic cooperation, talent mobility and defence industrial collaboration.”
“According to the Indian govt, the defence agreement will tap into investment opportunities, including 100% FDI being offered to Nordic defence firms in Indian defence industrial corridors. Modi said that with ambitious agreements like FTA and TEPA, both sides were ushering in a new golden era in relations.”