India's growing global role has implications for Norway, especially in the Arctic.
India’s role in global politics is on the rise. India’s development trajectory, coupled with its strategic location and non-aligned history, prompts the need to take a closer look at India’s role in the world. For Norway, the Arctic emerges a primary arena for interaction with India.
India has an Arctic policy from 2022 and its increasingly expressing an interest in this part of the world, in tandem with its global rise. This poses certain opportunities, but also challenges, for Norway – which defines the area as the country’s most important strategic priority.
Join us for expert insights and discussions with key speakers from both nations.
Programme:
15:00 - 16:00
Panel:
16:00 - 16:30 - Mingle
Organizers: Fridtjof Nansen Institute & Det Moderne India
Agenda for the seminar:
08:45-09:00 Mingling/coffee
09:00-09:15 Introduction by EY Norway (host), and DMI (Det Moderne India)
09:15-10:00 India geo-politics and macro-economic outlook
10:00-10:15 Coffee break
10:15-11:15 Key steps for developing and delivering a winning strategy in India
11:15-11:30 Coffee break
11:30-12:00 Brief overview of other fast-growing Emerging Markets
12:00-12:30 Q&A, and open discussions
Venue: EY Oslo Office, Stortorvet 7, 0156 Oslo, Meeting room Egertorget, 8th floor.
DMI is marking its 2-year milestone with a dedicated Norway India Business Week centered on the green shift and the thriving business collaboration between Norway and India.
With the eagerly anticipated visit of Prime Minister Narendra Modi to Norway on the horizon for India Nordic Summit later this year, we are excited to mark this milestone by exploring the vast opportunities for business and partnership between Norway and India.
In the midst of a challenging global landscape, India has emerged as a significant force in both economic and geopolitical spheres. The actions it takes in the upcoming year could pave the way for it to become the world's third-largest economy within five years and a developed nation by 2047. India aims to set a precedent for inclusive, sustainable economic growth, digital development, and climate action.
In 2023, India reached a milestone as it assumed the presidency of the G20, the foremost global economic assembly, showcasing its economic strength and diplomatic acumen on the world stage.
India's commitment to a rule-based international order, its advocacy for collaborative solutions to global issues, and its dedication to democratic principles position it as a stabilizing influence in today's intricate geopolitical landscape. Notably, India has championed a new era of multilateralism, where developing nations play a significant role in shaping global discourse by addressing the concerns of the Global South. During its tenure, India achieved significant milestones, including the inclusion of the African Union in the G20, the establishment of key multistakeholder partnerships like the Global Biofuel Alliance and the Global Initiative on Digital Health, progress towards achieving the United Nations Sustainable Development Goals (SDGs), reforms within multilateral development banks, and advancements in digital public infrastructure.
Economically, India has been a major engine of global growth, contributing 16% to the global GDP growth in 2023. With a growth rate of 7.2% in fiscal 2022-2023, India outpaced most G20 nations and nearly doubled the average growth rate of emerging market economies.
India's focus on stability and structural reforms has bolstered its economic resilience in the face of global challenges. Investments in infrastructure and connectivity projects such as the Bharatmala highway program, the Sagarmala project for port-led development, and the Smart Cities Mission are reshaping the nation's landscape and driving economic progress.
India embarked on its journey toward a digital economy over a decade ago with initiatives like Aadhaar, its national identification program. Today, with a thriving tech industry, India has become a hub for innovation and technology services, propelling both economic growth and its influence in shaping the future of the digital economy.
Against this backdrop, we invite you to join us for an engaging week filled with informative events, distinguished speakers, and discussions centered around unlocking opportunities in the Indian market. Take a look at some of the seminars and events below:
Agenda for the seminar:
08:45-09:00 Mingling/coffee
09:00-09:15 Introduction by EY Norway (host), and DMI (Det Moderne India)
09:15-10:00 India geo-politics and macro-economic outlook
10:00-10:15 Coffee break
10:15-11:15 Key steps for developing and delivering a winning strategy in India
11:15-11:30 Coffee break
11:30-12:00 Brief overview of other fast-growing Emerging Markets
12:00-12:30 Q&A, and open discussions
For more information contact [email protected]
India’s role in global politics is on the rise. India’s development trajectory, coupled with its strategic location and non-aligned history, prompts the need to take a closer look at India’s role in the world.
India’s Arctic Policy document refers to its historical and contemporary engagement in the Arctic region. Although India’s Arctic engagement began a century ago with the signing of the Svalbard Treaty in 1920, its more regular engagement with the region began in 2007, with the launching of its first scientific expedition in the Arctic.
India has shown a continuous commitment since then, with the establishment of a permanent International Arctic research base ‘Himadri’ at Ny-Ålesund, Svalbard, in 2008; deploying a multi-sensor moored observatory ‘IndArc’ in Kongsfjorden in 2014; and setting up its northernmost Atmospheric laboratory in Gruvebadet in 2016. India has also conducted 13 expeditions in the Arctic and currently has 23 ongoing key scientific projects. India is a member of the International Arctic Science Committee, Ny-Ålesund Science Managers Committee, University of Arctic, and Asian Forum of Polar Sciences, and plays an important role in the Arctic scientific community. India’s ties to the Arctic further deepened when it became an observer state in the Arctic Council at the Arctic Council meeting held at Kiruna in 2013, and renewed its status in 2019 in Rovaniemi.
The initial draft policy was structured on 5 pillars: Science and Research, Economic and Human Development, Transportation and Connectivity, Governance and International Cooperation, and National Capacity Building. An important additional pillar of ‘Climate Change and Environmental Protection’ is added, making it a total of 6 pillars on which the Indian Arctic Policy rests, showing its commitment to strengthening international efforts on combating climate change and protection, and harmonising polar research between the two poles and the Himalayan region.
For Norway, the Arctic emerges a primary arena for interaction with India. India has an Arctic policy from 2022 and is increasingly expressing an interest in this part of the world, in tandem with its global rise. This poses certain opportunities, but also challenges, for Norway – which defines the area as the country’s most important strategic priority.
Tuesday March 19th
Time: 15.00 - 16.30
Place: The Conduit
This event is in partnership with Fridtjof Nansens Institute.
For information send an e-mail to [email protected]
The latest IEA report on renewable energy suggests we are broadly on track to triple renewable energy capacity by 2030, provided that we maintain focus and increase momentum. Global renewable energy capacity increased by almost 50% in 2023, and capacity is forecast to increase to 2.5 times its current level by 2030.
However, there are real challenges around scale and speed. So far, progress has been patchy and far too slow. If businesses are to stay competitive, relevant, and afloat in an economy transformed by the energy transition, it is vital that they take their commitments seriously. They need to begin the hard work of implementation and stay on the right side of that transition. This will need to be in lockstep with government action, so that policy certainty, incentives, and energy security are managed alongside rapid decarbonisation.
India is the world's third biggest contributor to climate emissions. The need for green investments in the country is enormous. India has a crucial role to play in solving global climate, environmental, and resource challenges. In a few years, India will become the world's third largest economy, and it plays a key role in global policy development and negotiations on the climate and environment.
Emerging markets such as India have historically low GHG emissions but must ensure that today’s growth and energy demands are met in line with low emission paths. India is determined to implement strategic measures that contribute to reduced climate emissions at the same time as the country further develops independence, also in relation to its energy supply to its citizens and business/industry.
With this as a starting point, DMI invites Norwegian businesses for a conference to discuss India's renewable future. We have with us amazing speakers:
This is a by invitation only event.
Celebrating the EFTA - India Trade Agreement
This week is extra special as Det Moderne India hits the two-year mark, and we're ready to party like never before!
Join us for an unforgettable evening as we commemorate the landmark EFTA - India trade agreement! This agreement is poised to revolutionize economic landscapes, fostering integrated supply chains, opening doors to new opportunities, and catalyzing trade and investment flows between India and the EFTA nations.
Hosted By: The Conduit and Det Moderne India
Date: Thursday, March 21st
Time: 7pm
Location: The Conduit, Kristian Augusts gate 21
Get ready to groove to the beats of Bollywood!
This is a by invitation only event.
As a knowledge hub dedicated to bridging the gap in understanding about India in Norway, we're proud to have surpassed 100 registrations for our anniversary extravaganza three days ahead of the party.
There will be other events during Norway India Business Week, however they remain by invitation only events.
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
Key Themes that were covered:
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:
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:
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:
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:
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
DENMARK
FINLAND
SWEDEN
ICELAND
