The ongoing Indo-Nordic Cooperation, marked by Summits in 2018 (Sweden), 2022 (Denmark), and the upcoming 2024 event in Norway, underscores a shared commitment to collaborative and collective action. This commitment is vital for achieving the Sustainable Development Goals. Central to this strategy is the emphasis on renewable energy, innovation through startups, and new technologies. These elements are crucial for transforming ambitions into tangible outcomes. 

With Prime Minister Narendra Modi's anticipated visit to Norway for the India Nordic Summit in October we hosted a roundtable at World Economic Forum together with Ministry of Commerce & Industry, Government of India, Invest India, Indian Danish Chamber of Commerce and Industry and Sweden India Business Council.

Indo-Nordic Industry Dialogue on Sustainability (INIDS)

The 'Indo-Nordic Industry Dialogue on Sustainability (INIDS)' aims to reiterate the Indo-Nordic commitment to building a sustainable future focussing on renewable energy, innovation and new technologies. 

The Key facilitating actions discussed included:

- Establishing platforms for cross-sector collaboration, matching financing, new technologies, and knowledge partners to foster innovative business models for the green transition

- Emphasising the role of trade as an essential component for sustainability.
It's through such collaborative efforts that we can drive positive change and create a more sustainable future for all. 

Beyonder's founder and CEO, Svein Kvernstuen, Morrow Co-Founder and CTO, Dr. Rahul Fotedar and Haakon Reiersen Leknes, Director at Montel Group represented Norway at this roundtable.

The outcome document from World Economic Forum at Davos was handed over to the Foreign Ministry of Norway.

In an era of rapid digital transformation, the 54th Annual Meeting of the World Economic Forum in Davos-Klosters, Switzerland, from January 15th to 19th, 2024, serves as a pivotal platform to unravel the disruptive wave of financial technology (fintech) that is reshaping economies, with a special focus on India's dynamic role. Titled "Cashless Catalyst: The Fintech Boom in India and Beyond," this panel discussion aims to explore the evolution, impact, and future trajectory of fintech, both in India and on the global stage.

Moderated by Abhishek Pitti, Founder & CEO, IBC Media, the discourse thoroughly explored the fintech frontier.

The panel consisted of esteemed speakers, including

• Varda Taneja, VP, Invest India,

• Bharat Kaushal, MD, Hitachi India,

• Amitabh Khandelwal, GM, Department of Payment & Settlement Systems, Reserve Bank of India (RBI),

• Antonia Martina Durisch, a Swiss Entrepreneur, Politician & Global Shaper, and

• Rina Sunder, Founder, The Modern India (Det Moderne India).

Key Themes that were covered:

• Digital Payment Revolution: Examining how India has become a hotbed for digital payments innovation, exploring the transformative impact of mobile wallets, UPI, and other cutting-edge solutions.
• Inclusive Banking: Discussing the role of fintech in promoting financial inclusion, reaching unbanked populations, and providing affordable and accessible financial services.
• Regulatory Landscape: Analyzing the regulatory framework that has fostered or hindered the growth of fintech in India and identifying key lessons for other countries seeking to navigate this rapidly evolving space.
• Global Fintech Ecosystem: Exploring India's collaborations and contributions to the global fintech landscape, and assessing the potential for cross-border partnerships.
• Emerging Technologies: Delving into the impact of emerging technologies such as blockchain, artificial intelligence, and machine learning on the fintech sector and how they are driving innovation.
• Challenges and Opportunities: Addressing the challenges faced by the fintech industry, including security concerns, regulatory hurdles, and market competition, while also highlighting the vast opportunities for growth and disruption.

You can listen to and view the debate below:

Smriti Irani, Minister of Women and Child Development and Minority Affairs, Government of India and Minority Affairs and Mr Hardeep Singh Puri, Minister of Petroleum & Natural Gas and Housing & Urban Affairs, Government of India inaugurated the WELEAD : Women Leadership Lounge at Davos, World Economic Forum.

For the first time, India had put up the “We Lead” Lounge at the Davos annual meeting of the World Economic Forum with the vision of promoting global commitment towards building women leadership. Led by the Ministry of Women & Child Development in partnership with the Confederation of Indian Industry and supported by the Bill & Melinda Gates Foundation, the We Lead lounge is conceived as a dedicated space, designed to champion the message of global prosperity powered by women, emphasizing India's pivotal role in this narrative.

DEIB are the frameworks of DMIs activities. Did you know that Norway ranks second in the WEF's 2023 rankings, with a global gender gap estimated to be 87.9%? It also ranked first in the 2021 Women Peace and Security Index.

It was an honor that the founder of Det Moderne India, Rina Sunder, was invited to the inauguration of WeLead lounge at Davos.

Arati Davis from Sweden India Business Council and founder of Det Moderne India Rina Sunder with Minister for women and child development and minority affairs, Smart Irani

A big thank you to all of you who joined us for the Modi in Asia's century event at the parliament. Our keynote speaker was Srinivasa Rao, Global Vice Chair, Global Delivery Service, EY.  With over 65,000 people worldwide, EY’s Global Delivery Services organization is focused on building world-class industrial-scale competencies to deliver best-in-class services to EY clients across the globe.  The debate was moderated by Morten Hegge, Cambi ASA Other panelists were:  - Srinivasa Rao, Global Vice Chair, Global Delivery Service, Ernst & Young - Elisabeth Eide, Professor of journalism studies and author of India – på vei mot hindunasjonalisme - Dan Banik, Professor of political science, University of Oslo - H.E Aquino Vimal, Ambassador to Norway.  We are sharing a few glimpses below:

While India is undergoing rapid development, the level of knowledge about the country here in Norway is relatively low. Therefore, Kåkånomics invited Erik Solheim and Rina Sunder from DMI, together with Elisabeth Eie and Kalle Mallone to a debate about:

India's Politics and Economy - Why Should We Care?

The aim of the debate was to give a bird's eye overview of today's India and to look a bit ahead into the future.

The participants:
 

• Elisabeth Eide has brought a lot of knowledge in through her book "India – på vei mot hindunasjonalisme", which she wrote together with Terje Skaufjord last year. She has traveled a lot around India and has gained all-round knowledge of the country, and especially the Hindu nationalist movement.

• Rina Sunder has a lot of insight into trade, business, economics, and about India-Norway relations here. She has written the book "Det moderne India", about culture and business in India. Together with others, she founded DMI to give young and contemporary voices a platform to share their knowledge and thoughts about India-Norway relations.

• Erik Solheim is a diplomat with a lot of international experience, especially in South Asia. From 2000 to 2005, he led the Sri Lankan peace process. In recent years, he has been concerned with Indian politics and has written positively about Modi and the modern India.

• Kalle Moene is a pioneer in the economics discipline in Norway, and a frequent guest of Kåkånomics, since its inception seven years ago. This spring, he stood against Erik Solheim's perspective and what he believed was a glorification of India and Indian politics under Modi.

All in all, it was a varied and solid panel discussion that covered the domains of politics, economics, and culture/society.


Topics covered in the debate:

• How have Modi and BJP shaped India in your opinion?
• Economically - what is the big picture, what are the areas of focus?
• India is a global economic player with a strong stock market. But is the economic growth as big as you hear?
• Modi is very popular - but the support is different among different social groups and regions/states. Why?
• What is the so-called Hindutva ideology? In what way is there a change or continuity from earlier nation-building/nationalism in India? Cultural changes? The relationship with Islam/religious minorities? Ideological history writing?
• Is it a paradox that Hinduism, which has traditionally been very inclusive, now appears more exclusionary?
• India is decreasing on the democracy index - what is the problem?
• The great linguistic, ethnic, and religious diversity - is it a strength or weakness?

We get a lot of requests about the streaming of events. Streaming did not occur for this debate nor for the Blue Economy and India seminar. However, we have uploaded the debate recordings on the podcast. 

About KÅKÅ|nomics: The point of KÅKÅ|nomics is to have economists explain to a broad audience how they see the world develop. Joining economists are psychologists, technologists, philosophers, historians, journalists, artists, politicians and comedians. The final product is enjoyed by laymen and professors alike. KÅKÅ|nomics is both a platform and a meeting place.

India has taken steps into the global landscape throughout the past decades. We see contours of an emerging superpower taking form in multiple economic arenas. With its giant ocean, the blue economy is among the motors of the modern India. Is there any space for the ocean nation of Norway and its blue companies to play a role in this mix? There are indications of this, which is why we invite you into our world of collaboration and opportunities within the intersection of large & small and ocean & land. 

Our conference - which was in collaboration with DNB - offered valuable insights and inspiring conversations into the investment possibilities in India. Many companies used this occasion to meet business leaders in Norway’s largest companies and other decision makers to better your understanding of the possibilities within the blue economy and India interconnection. We were happy that more than 40 people had signed up for the conference.

The moderator was Audun Wickstrand Iversen, Portfolio Manager, DNB Asset Management. He addressed:

Panelists were:

• Success in Indian Business 
• India's Evolving Role as a Global Power 
• Economy and Ecology 

• Stine Horn, Deputy Director, Oceans and Private Sector Development, Norwegian Foreign Ministry
• Lasse. K. Hansen, Global Head of Marine HR, Wilhelmsen.
• Rina Sunder, Founder, The Modern India
• H.E Ambassador Vimal Acquino

Sharing glimpses below:

DMI headed the Indo-Nordic Collaboration Seminar at The International Climate Summit 2023 (ICS 2023) together with India Danish Chamber of Commerce and Industry and Sweden India Business Council.

ICS 2023 attracted an astounding 60,000 participants, making it a monumental occasion.

Greenstat ASA and PHD Chamber made history delivering a mega event in India. The prestigious Vigyan Bhawan, typically reserved for the highest dignitaries like the President, Vice President, or Prime Minister of India, served as the perfect backdrop for this remarkable gathering.

Moderators:

-  Ms. Rina Sunder, Founder, Det Moderne India

-  Mr. Umesh Sahdev, Exec. Chairman, Hydrogenium, Resources, India

-  Mr. Knut Linnerud, SBD International, Greenstat ASA

Key Takeaways

8 key takeaways from the International Climate Summit 2023 with the topic "Sustainable cities and Indo-Nordic collaboration" based on the insights provided by the speakers:

1. Emphasizing Personal Responsibility and Collective Efforts: The significance of individual choices and mobilizing efforts at all levels was highlighted as an important focus area. Collaboration between Nordic and Indian cities is crucial for mutual benefits, including cleaner air and water, and learning from each other.
2. Focus on Circular Economy and Waste Management: The importance of circular economy practices and effective waste management for sustainable urban development was stressed as an important factor.
3. Building Collaborative Bridges Between Sectors: A key theme was also the need for collaboration between different sectors - industry, academia, and government. Collaborative efforts are essential to accelerating progress towards the 2030 sustainability goals.
4. Global Collaboration and Shared Learning: A speaker highlighted the significance of collaboration between the Nordic countries and India. The event served as a platform for companies to learn from each other, emphasizing that both regions possess valuable skills and insights.
5. Urban-Centric Climate Action: It was emphasized that cities are major contributors to pollution and play a pivotal role in climate change mitigation. Cross-city collaboration and integrating climate considerations into urban planning are vital.
6. Innovations in Agriculture and Industry: Innovations in precision farming tools, satellite imaging, and partnerships in industries like cement, glass, and steel were discussed. Solutions such as "Add Blue" for emissions reduction were highlighted by Yara.
7. Education and Research for Sustainable Development: The importance of education, research, and industry integration was underscored. These elements are crucial for staying updated with global changes and facilitating international collaboration.
8. Investment and Smart City Initiatives: An organization's role in supporting investment cycles and the development of smart cities and sustainable infrastructure was noted. Several Nordic cities were recognized for their leadership in climate change initiatives.

Additionally, a successful electric vehicle (EV) implementation case was shared, highlighting the role of tax incentives and other perks in promoting EV adoption. There was also an acknowledgment of India's smart economy strategies for rapid energy transformation.

These takeaways highlight the importance of collaboration, innovation, individual action, and cross-sector partnerships in achieving sustainability goals and addressing climate challenges in both Nordic and Indian contexts.

The Indo-Nordic Cooperation session focused on Clean Energy and Renewables The aim was to foster collaboration between India and the Nordic countries in the fields of clean energy, sustainability, and renewable technologies. This session within the summit focused on two key aspects: cities and the unique offerings of individual Nordic countries towards the Indian market. The session provided a platform for knowledge sharing, idea exchange, and identifying potential areas of cooperation.

Mr. Ola Elvestuen, Ms. Arati Davis, and Mr. Mads Schlosser held opening remarks, pointing out the need for global collaboration to achieve climate action and the opportunities for collaboration between the Nordic countries and India.

The Indo-Nordic Cooperation session aimed to foster collaboration between India and the Nordic countries in clean energy, sustainability, and renewable technologies. In the session, the focus was pointed towards the critical role cities play in sustainable development and highlighting the unique contributions of each Nordic nation to the Indian market. Our goal was to create a platform for sharing knowledge and passionate idea exchange.

The following speakers elaborated on Indo-Nordic opportunities for collaboration:

NORWAY

• Dr. Indra N. Mitra, Director at Cambi (Europe). Dr. Mitra is a prominent figure in the clean energy sector, leading Cambi's efforts in Europe and India to drive innovative solutions in waste-to-energy and sustainable practices. 
• Mr. Azam Ali Khan, Local Energy Advisor at NORWEP, India. Mr. Khan is a respected expert in energy advisory services, particularly focused on facilitating collaboration between Nordic and Indian stakeholders to enhance energy sustainability.

DENMARK

• Vidya Basarkod, Managing Director at Ramboll India: Vidya brings extensive experience to the table, heading Ramboll's India operations and specializing in sustainable infrastructure and urban development.
• Gitansh Malik is currently leading the Commercial Building Solutions for Danfoss India and Neighbouring countries. An Electronics engineer, with a Masters degree in Business Administration from SIIB, Pune, he has been instrumental in developing the HVAC Drives and Commercial Building solutions business for Danfoss for 15+ years now.
• Ms. Usha Subramaniam, Country President for India at Grundfos: Usha leads Grundfos's operations in India, championing innovative water and energy solutions for sustainable urban development.

FINLAND

• Dr. Heli Antila, Chairman and VP of Biobased Solutions at Fortum: Dr. Antila is a thought leader in biobased solutions, driving Fortum's efforts to develop sustainable energy solutions in Finland and beyond.

SWEDEN

• Brig Prabir Deb (Retd) Head of Infrastructure in India, Serneke International Group. Mr. Prabir did a last-minute step-in for Mr. Prashant Agarwal, CEO and Chairman. We are happy to have you with us Deb.

ICELAND

• Dr. Vijay Chauhan, CEO at Geotropy ehf: Dr. Chauhan leads Geotropy ehf in its endeavors to harness geothermal energy, contributing to sustainable energy practices.

Rahul Gandhi, (born June 19, 1970, Delhi, India), is an Indian politician and leading figure of the Indian National Congress (Congress Party). He was born the son of Rajiv Gandhi, a grandson of Indira Gandhi, and a great grandson of Jawaharlal Nehru, all of whom served as prime ministers of India.

Rahul Gandhi who gave Norwegian companies a good insight into some of the challenges they could be faced with in India. He also provided an opportunity for Norwegian businesses to explore investment possibilities and collaboration in India's burgeoning market.

Sam Pitroda came along with Rahul Gandhi. DMI had the honor of having Pitroda with us for a deabte at Arendalsuka.

Sam Pitroda is a true front runner! He is an internationally recognized telecom inventor, entrepreneur, development thinker, and policy maker who has spent fifty years in information and communications technology (ICT) and related global and national developments. Credited with having laid the foundation for India's telecommunications and technology revolution of the 1980s, Mr Pitroda has been a leading campaigner to help bridge the global digital divide. He was also the founder and first chairman of India's Telecom Commission. Recently, Mr Pitroda served as adviser to the Prime Minister of India on public information infrastructure and innovation, with the rank of cabinet minister. In addition, Mr Pitroda is a serial entrepreneur having started several companies in the United States. He holds over fifteen honorary PhDs, close to 100 worldwide patents, and has published and lectured widely in the United States, Europe, Latin America and Asia.

The dialogue between Sadhguru and the business executives highlighted the crucial role of conscious leadership in fostering sustainable businesses, nurturing a harmonious society, and advocating for the preservation of our precious soil.

Sadhguru who is ranked among the 50 most influential people in India, is a yogi, mystic, visionary and bestselling author made his first visit to Norway and formed a great engagement on the Save Soil movement. 

Soil is an issue that we must attend to now, or we will regret it as a generation. Every scientific study is clearly pointing out that we only have enough soil for another 80 to 100 crops — 45 to 60 years maximum. It is inevitable that in another 30 years' time, there will be a serious food crisis. At the same time, our population will be over 9 billion.

For this event we gathered a diverse group of experts, thought leaders, and passionate individuals who share a common goal: to explore innovative ideas, exchange knowledge, and foster collaboration in our collective mission to save soil. Through the panel discussion we aim to deepen our understanding of the intricate web of life within the soil, its crucial role in supporting food production, mitigating climate change, and maintaining biodiversity.

We are sharing a few glimses below:

In the panel we also have with us Erik Solheim. MP Ola Elvestuen, and the host: MP Himanshu Gulati.

A fully packed hall of politicians, business leaders, ambassadors, pastors and ordinary citizens were inspired by his wisdom and perspectives. 

Meeting with Minister of International Development Anne Beathe Tvinnerheim