Today, I have had the opportunity to interact with business and research leaders from Norway and India. I express my heartfelt gratitude to the Prime Minister of Norway for the grand organization of this summit. It is a matter of great happiness for me to be here today between the business and research communities of Norway and India. Listening to some of the colleagues, it gives me confidence that the foundation of our partnership is very strong. This is not just about possibilities; it is a proven partnership.
Today, when food, fuel, and fertilizer security have become a global challenge, India and Norway are finding solutions together. Whether it is Yara's investment in India's food sector, Equinor's supply of LPG and LNG to India, or Yara's contribution to India's fertilizer sector, I am very happy that many of you CEOs have always participated with great enthusiasm in Vibrant Gujarat and other investor summits.
Now we must take this partnership forward by increasing its intensity and moving towards new frontiers. We can no longer make progress by taking small steps; we need to increase the pace and set very high targets.
Friends, for those of you connected with India and those who will interact with Indian partners here, I believe there could be no better time. Today is an opportunity to make the right use of the right time.
In October 2025, we implemented the Trade and Economic Partnership Agreement, or TEPA, with the European Free Trade Association. This unique and special agreement is an agreement of talent, technology, and mutual trust between us. Through this agreement, we have a target of 100 billion dollars in investment and creating one million jobs in India from EFTA countries over the next 15 years. This is an ambitious target, but it is achievable. And I say to you with confidence today that turning your investment in India into outcomes is our guarantee.
Friends, I will mention two sectors that can be very useful for you. India's rapidly growing middle class is creating major demand in the nutrition and health sectors. Norway's food, fisheries, and healthcare companies can become strong partners for India in meeting this demand. Similarly, in the field of clean energy, no one in the world can match India's aspirations. By 2030, we have set a target to produce 500 gigawatts of clean energy and 5 million tons of green hydrogen. Green energy investment is also a priority of the Norway Wealth Fund. I invite Norway to become an important partner in India's clean energy future.
Friends, as we move forward with the mantra of Reform, Perform, and Transform, if we look back, in the last 12 years, we have completely changed India's economic DNA. We are continuously reducing compliances, and the government is taking very proactive steps to increase the ease of doing business. Recently, we have implemented next-generation reforms in areas like taxation, labor codes, and governance. Now, I believe we are providing the best opportunities to take manufacturing in India to the next level. We are also providing incentives in many important sectors. A bright example of this is our shipbuilding sector. We are working very fast to advance this sector as a strategic manufacturing sector. We are developing shipbuilding clusters and creating an end-to-end ecosystem. Along with shipbuilding, India is becoming a global hub in MRO, green shipping, and maritime services.
Today, nearly 10% of Norway's ships are built in India. Can we take this to 25% in the next five years? I believe it is not a difficult task. We have now gained momentum. We need to take bigger steps with bigger targets. I invite you all to become major partners in this sector by taking advantage of India's policy stability and incentives.
Friends, today the Prime Minister and I have elevated India-Norway relations to a Green Strategic Partnership. Through this strategic partnership, Norwegian companies will receive full support in areas like critical minerals, AI, cyber, space, and defense. In all these areas, I invite you to make India an innovation and manufacturing base.
Friends, today we are also building lab-to-lab, university-to-university, and scientist-to-scientist partnerships between India and Norway. India's CSIR, Startup Fund, and Norway's research institutions are increasing cooperation with each other. This will connect the research and startup ecosystems of both countries.
Friends, for Norway, we have implemented a dedicated trade facilitation desk in Invest India. This desk will make your investment journey in India smoother, faster, and more effective. This kind of dedicated arrangement provides great convenience, even for coordinating with states, and any necessary changes in the decision-making process can happen very quickly. That is why we have made this special arrangement. Now, my main message to you all is this: come and increase your scope and ambition in India. I am inviting you to come to India. You will also get to experience all of this. I have given you my assurance, and in a way, the ball is in your court. Thank you. Thank you.
