Trade, energy, discussions on global conflicts to top agenda for Modi’s Nordic visit

First Indian Prime Minister’s bilateral visit in 43 years, first Nordic summit since 2022 to kick off this week in Oslo.

Updated – May 18, 2026 08:55 am IST – Oslo

Suhasini Haidar

PM Modi is scheduled to hold talks with Norwegian Prime Minister Jonas Gahr Støre. Photo credit: X/DPR PMO

Trade and energy supplies will top the agenda as Prime Minister Narendra Modi lands here on Monday (May 18, 2026) for the first bilateral visit by an Indian Prime Minister to Norway, one of the world’s major oil and gas exporters.

Mr. Modi’s talks with Mr. Store will be an opportunity to take stock of the progress on the India-EFTA Trade and Economic Partnership Agreement (TEPA) with four countries Iceland, Liechtenstein, Norway, and Switzerland, which came into force in October 2025. Mr. Modi is scheduled to hold talks with Norwegian Prime Minister Jonas Gahr Støre, and both leaders will address a business summit as both countries seek new markets and new technological collaborations.

The visit will also include the 3rd Nordic-India summit, bringing together leaders of the five Nordic Countries of Norway, Sweden, Finland, Iceland and Denmark on Tuesday (May 19, 2026). The summit had to be cancelled last year after the Pahalgam terrorist attacks and the four-day India-Pakistan conflict. In addition, discussions on the conflicts in Ukraine, Iran and Gaza are expected to come up in both bilateral and multilateral discussions.

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Mr. Modi’s talks with Mr. Støre will be an opportunity to take stock of the progress on the India-EFTA Trade and Economic Partnership Agreement (TEPA) with Iceland, Liechtenstein, Norway, and Switzerland, which came into force in October 2025. 

On Monday (May 18), India and Norway are expected to announce three government-to-government MoUs in health cooperation, digital infrastructure and space ties, while at least 18 MoUs are expected between businesses during the visit, many of which will be in the field of energy.

“We are discussing more and more what we can do together on energy, and we are expecting several business-to-business MOUs on the energy side,” Norwegian Ambassador to India May-Elin Stener told The Hindu, citing a big consignment of LNG delivered to India last week, part of a 15-year agreement with Norwegian energy major Equinor, which will also help with fertilizer production.

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In addition, India hopes to discuss more investment from Norwegian pension funds, the world’s wealthiest, the MEA said in a briefing last week.

“Another investment that we get from Norway, for instance, is from the Government Pension Fund, which is about $28 billion. And we are looking to increase the investment that they have in Indian capital markets,” Puja Kapur, Additional Secretary (North Europe) said.

According to MEA figures, more than 700 Nordic companies operate in India, and around 150 Indian companies have a presence in Nordic regions.

India’s bilateral trade in goods and services is well below potential, say experts, with about $19 billion with Nordic countries, and both sides are seeking more collaborations. Mumbai-based biotech start-up founder Ashvany Bansal, owner of Shashvi Biotech, who has patented phyto-therapeutic medicines for oncological treatment, says Nordic countries are important investors in research in particular. Mr. Bansal, who will join the business summit on Monday, said he is hopeful of finding laboratory certification support and research investment during the visit.

The timing of Mr. Modi’s visit to Norway and the Nordic Summit is also significant, given that the leaders are converging for the first time since 2022, and the Russia-Ukraine war, Israel’s attack on Gaza after the October 7 attacks and the U.S.-Israel war with Iran, all are having an impact on the global economy.  

“The world has changed a lot since [the last Nordic-India Summit]. So, all five Nordic countries are really looking forward to discussing geopolitical issues with the leader of the most populous country, and there will also be a lot of discussions on climate, on green future sustainability and how we can work closely together as democracies,” Ambassador Stener said.

All eyes will also be on India’s response to U.S. sanctions waivers on Russian oil, which lapsed on Saturday (May 16), and whether that will mean a decline in India’s imports of Russian oil.

(The reporter is in Norway at the invitation of the Norwegian Ministry of Foreign Affairs to cover the Nordic Summit)

Published – May 17, 2026 10:48 pm IST

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