Prime Minister Narendra Modi invited Nordic corporations to spend money on India’s “Blue Economy” on Wednesday. Nordic corporations are from international locations comparable to Denmark, Iceland, Norway, Sweden, and Finland, and Blue Economy refers to financial actions primarily based on water sources comparable to fisheries.
Modi attended the second India-Nordic Summit alongside Danish Prime Minister Mette Frederiksen, Icelandic Prime Minister Katrin Jakobsdóttir, Norwegian Prime Minister Jonas Gahr Støre, Swedish Prime Minister Magdalena Andersson, and Finnish Prime Minister Sanna Marin. The assembly was held in Copenhagen.
According to a joint assertion issued following the summit, the Prime Ministers agreed that if managed sustainably, the Blue Economy can ship financial progress, new jobs, improved vitamin, and elevated meals safety. As main ocean nations, India and the Nordic international locations agreed on the advantages of working collectively to rework the delivery trade right into a low-carbon future by way of the trade of finest practices and expertise transfers.
“The leaders discussed the potential for fostering business cooperation and investment in sustainable ocean industries in India and the Nordic countries, including the maritime, marine, and offshore wind sectors.” India and the Nordic international locations pledged to observe by way of on the historic resolution made at UNEA 5.2 to barter a world legally binding instrument to finish plastic air pollution, with the purpose of finishing the work by 2024,” the assertion mentioned.
It additionally acknowledged that the Prime Ministers have been deeply involved in regards to the ongoing humanitarian disaster in Ukraine. They strongly condemned civilian deaths in Ukraine and known as for a direct cessation of hostilities.
“They emphasized that the modern global order is based on the UN Charter, international law, and respect for state sovereignty and territorial integrity.” They mentioned the battle in Ukraine’s destabilizing impact, in addition to its broader regional and international implications. “Both parties agreed to keep working on the issue closely,” it mentioned.
The summit supplied a chance to evaluate the progress of India-Nordic relations because the first India-Nordic Summit in Stockholm in 2018. Multilateral cooperation in post-pandemic financial restoration, local weather change, sustainable growth, innovation, digitalization, and inexperienced and clear progress.
The partnership between India and the Nordic area within the Arctic Region was mentioned. Prime Minister Modi acknowledged that India’s Arctic Policy supplies a superb framework for the area’s growth of India-Nordic cooperation.
In addition, he invited Nordic sovereign wealth funds to spend money on India. On the sidelines of the summit, Modi met with Norway’s Prime Minister, Jonas Gahr Støre. This was the primary assembly between the 2 leaders since Prime Minister Støre took workplace in October 2021.
Both Prime Ministers reviewed ongoing bilateral actions and mentioned future areas of cooperation. Modi additionally met with Iceland’s Prime Minister Katrin Jakobsdottir, Sweden’s Prime Minister Magdalena Andersson, and Finland’s Prime Minister Sanna Marin.
First printed on: 05 May 2022, 12:25 IST