Modi courts Norwegian capital for India

India is pitching Norway on parts of its economy that match Oslo’s strengths in ships, energy, and long-term capital. Prime Minister Narendra Modi invited Norwegian companies to invest in India’s clean energy, manufacturing, shipbuilding, nutrition, and health sectors at the India-Norway Business and Research Summit in Oslo, according to a post on X.

The pitch comes as India tries to turn its European tour into investment follow-through, with New Delhi pointing to tax, labor code, and governance reforms, along with lower compliance requirements, to make the case for fresh Norwegian capital, Press Trust of India reports.

The clearest target is shipbuilding. Modi wants India to build 25% of Norway’s ships over the next five years, up from 10% currently, as New Delhi tries to turn shipbuilding into a strategic priority.

Capital framework: The investment push sits under the Trade and Economic Partnership Agreement, which carries a target of INR 9.6 tn (USD 100 bn) in investments and 1 mn jobs over 15 years. India has also set up a dedicated Norway desk under Invest India, giving Norwegian investors a formal route into sectors New Delhi wants to scale. Modi also invited Norway’s sovereign wealth fund to partner in India’s clean energy sector, tying sovereign capital to India’s energy-transition pipeline.