‘India’s DNA has changed in 12 years…’ PM Modi’s big announcement in front of Norwegian stalwarts, China-America surprised

Prime Minister Narendra Modi on Monday held a very important and high-level meeting with big business and research leaders of Norway. In this meeting, PM Modi told the whole world about the huge opportunities for investment and progress hidden in India. He said that in today’s era, when food, fuel and fertilizer security has become a big challenge for the whole world, India and Norway together are finding permanent solutions to these problems. PM Modi stressed that this is the right time and both the countries should take full advantage of this golden opportunity.

Taking his point forward, the Prime Minister said that in October 2025, India will sign the ‘Trade and Economic Partnership Agreement’ (TEPA) with the European Free Trade Association. This is not a common agreement, rather it is a very unique and special agreement of talent, technology and mutual trust between us and European countries.

India’s changing economic DNA

Addressing business leaders, PM Modi said that in the last 12 years, we have completely redesigned the economic environment of the country. Our government is continuously reducing stringent regulations and compliance requirements. Proactive steps are continuously being taken to increase the ‘ease of doing business’ in India.

He said that recently India has implemented next-generation reforms in taxation, labor code and governance. To strengthen the manufacturing sector of the country, various industries are being given unmatched opportunities and attractive incentives. India’s shipbuilding sector is the biggest and living example of these government efforts. PM Modi said that while we are moving forward with the mantra of ‘Reform, Perform and Transform’, looking back clearly shows that in the last 12 years we have completely changed the economic DNA of India.

Huge opportunities for Norwegian investors in India

PM Modi said that apart from shipbuilding, India is now rapidly emerging as a global hub for MRO (Maintenance, Repair and Overhaul), green shipping and various maritime services. He shared a shocking figure saying that currently 10% of Norway’s ships are being built in India alone.

The Prime Minister set a big target for Norway’s business leaders and asked whether we can increase this figure from 10% to 25% in the next five years? He himself replied that considering India’s current pace in this sector, this target can be easily achieved. PM Modi said that today we are not limiting India-Norway relations to just governments, but are transforming it into lab to lab, university to university and scientist to scientist partnerships. With this, the research and startup ecosystems of both the countries will be directly connected. While giving a message to the Norwegian veterans, the PM said that all of you should enlarge your vision and ambition (goal) and think seriously about coming to India and starting your business.

$200 billion magnates attended the meeting

CEOs and top leaders from different sectors participated in this historic round table meeting. Mainly these fields were discussed in the meeting:

• Energy and Offshore Wind
• Green Hydrogen and Green Ammonia
• Maritime and Shipping
• Fertilizer and food security
• Consumer Goods and Food Processing
• Industrial Manufacturing and Coatings
• Robotics and Underwater Technology
• healthcare technology
• Research, Innovation and Higher Education

You will be surprised to know that the total market capitalization or enterprise value of the Norwegian companies participating in this meeting is about 200 billion US dollars (about more than Rs 16 lakh crore). This figure shows how strong and large-scale the economic relations are between India and Norway. This meeting has proved that India has now become one of the most reliable economic partners for the economies of Nordic countries and a major destination for innovation.

PM Modi met the bosses of these global companies

Top representatives of many big companies from Norway and the world were present in this meeting, the prominent ones being:

• Equinor: Norway’s largest energy company, a world leader in oil, gas, offshore wind and low-carbon energy.
• Yara International: A leading company in the global fertilizer and green ammonia sector.
• Orkla: Nordic consumer goods company, which has a large presence in India through popular brands like MTR and Eastern.
• Kongsberg Group: A renowned company in the field of advanced maritime technology, defense and robotics.
• DNV: The world’s number one company in maritime classification, risk management and energy transition services.
• Jotun: Internationally renowned name in the field of paints and coatings.
• Aker Solutions: Global energy engineering and services giant.
• BW LPG: One of the largest LPG shipping companies in the world.
• Laerdal Medical: The world leader in global healthcare training and medical simulation.