India’s engagements with the Nordic Countries have been amongst India’s most dynamic and substantial international partnerships. In keeping with the engagements of the last decade, the Strategic Partnership between India and the Nordic Countries which comprise of Denmark, Finland, Iceland, Norway and Sweden will focus on green growth, green technologies and climate action and on creating resilient supply chains that can support mutual economic growth and development. The Third India–Nordic Summit provided the necessary impetus to the newly minted Green Technology and Innovation Strategic Partnership amongst the region and India to address regional and global challenges.
The economic ties between India and Nordic countries have grown significantly. Bilateral trade between the two has increased fourfold and investments have grown by almost 200% over the past decade. The Nordic countries have emerged as vital partners in areas of renewable energy, digital, advanced manufacturing, maritime, health and research among others. The trade and investments between the two regions not only help in higher trade and investments but also increases innovation, employment and sustainability.
Among the Nordic nations, Sweden remains India’s largest trading partner, with bilateral trade reaching USD 6.96 billion in 2024. Swedish investments in India have crossed USD 2.59 billion, while nearly 280 Swedish companies operate in the country. Finland has also strengthened economic engagement, with bilateral goods trade exceeding USD 1 billion in 2024–25 and services trade touching USD 1.9 billion in 2025. Indian investments in Finland have surpassed USD 2 billion, while Finnish investments in India stand at USD 4 billion. Norway has emerged as a major investor through its Government Pension Fund Global, with investments of nearly USD 28 billion in Indian capital markets, alongside bilateral trade worth USD 1.05 billion. Even Iceland, despite its relatively small economy, has steadily expanded engagement with India, recording bilateral trade of USD 77 million in 2024–25.
The India-Nordic cooperation has acquired a multidimensional nature. In addition to growing economic cooperation between India and the Nordic countries, people to people contacts have been strengthening. There are approximately 88,000 Indians in Sweden, 33,000 in Finland and 30,000 in Norway. Indian professionals have contributed significantly to technology, research, healthcare, and innovation ecosystems across the region. Indian culture, including yoga, Ayurveda, classical arts, cinema, and festivals, enjoys growing popularity, further strengthening cultural understanding and societal engagement.
Education, research, and innovation have emerged as another important pillar of cooperation. The University partnerships are growing and leading to greater academic collaborations, joint research projects, creation of knowledge and innovative application of that knowledge through emerging technologies. Finland’s growing Indian student community, Sweden’s long-standing tradition of Indology studies, and increasing cooperation in science and technology are helping create knowledge networks that support future collaboration in advanced technologies and innovation-driven growth.
The Green Technology and Innovation Strategic Partnership to be framed by the Green Summit is meant to channel India’s and the Nordic countries’ collective efforts towards sustainable growth through green technologies. This new strategic partnership would thus focus on green technologies which can help tackle various global challenges facing humanity today. For instance, India plans to seek to deepen her cooperation with Iceland on geothermal energy and fishery development; with Norway on the blue economy and the Arctic research; and with other Nordic countries on maritime sector, cyber security, health, sustainability and manufacture of advanced products.
In the field of green technologies, through the Strategic Partnership for Green Technology and Innovation, both countries intend to promote sustainable solutions to improve the efficiency of use of resources. They would also work to develop digital platforms to support climate change mitigation and adaptation. The focus would be placed on water management, recycling and using sustainable resources to improve quality of life and create green jobs to ensure energy security and to boost trade and investment.
The Nordic countries can help tap into India’s requirements for climate action and support its long-term development goals through its vast expertise in environmental sustainability. The region also holds great significance as it affects the global climate and the monsoon patterns in India and Southeast Asia. Research collaborations in climate science and environmental protection are critical to promote sustainability, ensure agricultural growth and protect against climate change.
The partnership further emphasizes collaboration in science, technology, engineering, and mathematics (STEM), including emerging technologies such as 6G communications. Increased mobility of students, researchers, academics, and skilled professionals will strengthen knowledge exchange, innovation ecosystems, entrepreneurship, and workforce development.
Maritime cooperation and the blue economy represent another area of strategic convergence. By promoting sustainable use of marine resources, improving maritime connectivity, and strengthening ocean governance, India and the Nordic countries aim to support economic growth while ensuring environmental sustainability and regional stability.
The recently concluded India–EFTA Trade and Economic Partnership Agreement (TEPA) would also further enable greater market access, enhance investments, strengthen value chains, and create employment opportunities.
As countries worldwide navigate the twin challenges of sustainability and technological transformation, the India–Nordic partnership offers a compelling model of collaborative development. Built on mutual trust, shared values, and complementary strengths, it is increasingly shaping cooperation in green technologies, climate action, innovation, research, maritime affairs, and economic growth. The outcomes of the Third India–Nordic Summit underscore the emergence of a forward-looking partnership capable of contributing meaningfully to a more sustainable, innovative, and resilient global future.