Norwegian businesses to drive India's green transition
India is a booming market, and Norwegian enterprises are ideally positioned to contribute to India's green transition, according to Norway's trade and industry minister, Jan Christian Vestre.
"There are huge prospects for Norwegian technology and Norwegian investments, particularly in the spheres of renewable energy, green maritime industry, and circular economy – sectors where India has great goals," he said.
Minister Vestre met with Ministers of Power, New and Renewable Energy Raj Kumar Singh and Ports, Shipping, and Waterways Sarbananda Sonowal during his day-long visit to New Delhi.
He also spoke with Commerce and Industry Minister Piyush Goyal and his Finnish counterpart Ville Skinnari, demonstrating what Nordic countries have to offer.
A meeting of the India-Norway Task Force on Energy, headed by the Ministry of New and Renewable Energy, was attended by 17 Norwegian energy businesses from the Minister's business delegation.
"Agreement was achieved on strengthening collaboration on offshore wind, battery storage, hydrogen safety, and energy efficiency, and many Memorandums of Understanding were signed," according to a press release.
India is the world's third largest energy consumer, with energy consumption expected to rise faster than in any other country by 2040.
“The business cooperation between Norway and India is deepening. Our leading and most recognized companies are well established in India and contribute to jobs and sustainable development. Presently, there are now several new Norwegian businesses within renewable energy, hydrogen and energy storage, making exciting deals with Indian companies", said Cristian Valdes Carter, India Director at Innovation Norway and Commercial Counsellor at the Norwegian Embassy.
Vestre will also visit India’s commercial capital Mumbai today. The visit is the ministers first trip to Asia, after he assumed office in the autumn of 2021.