Norway's Minister for Trade and Industry arrives in New Delhi to contribute to India's green transition

Norway's Minister for Trade and Industry, Jan Christian Vestre arrived in New Delhi on Friday to contribute to India's green transition.

He is eyeing the enormous possibilities for Norwegian green business in India as Vestre arrived in New Delhi with over 40 business delegations with an aim to increase its footprints in India, reported the Norwegian Embassy in New Delhi press release.

"India is an enormous, and still growing market. Norwegian businesses are well-placed to contribute to India's green transition. There are great opportunities for Norwegian technology and Norwegian investments, especially in the fields of clean energy, green maritime industry and circular economy - sectors where India has great ambitions", said Minister for Trade & Industry Jan Christian Vestre.

India has set ambitious climate goals, where increased renewable energy capacity and use of hydrogen will be important. Norway can contribute with the technology, capital and experience India needs to fulfil its goals, and Norwegian and Indian companies can excel the energy transition globally together", added Vestre.

During his day-long visit in New Delhi, Minister Vestre met with Minister of Power and New and Renewable Energy, Raj Kumar Singh, and Minister of Ports, Shipping and Waterways, Sarbanand Sonwal.

He also met the Minister of Commerce and Industry, Piyush Goyal, with his Finnish counterpart Ville Skinnari, showcasing what Nordic countries can offer.

Welcoming Minister Vestre to India, Norwegian Ambassador to India, Hans Jacob Frydenlund said, "there has been a steady increase in our bilateral cooperation, in trade and investments. With the Minister's visit, Norway reiterates its commitment to working closely with India as the world moves towards global green transition goals".

From the business delegation accompanying the Minister, 17 Norwegian energy companies took part in a meeting of the India-Norway Task Force on Energy, chaired by the Ministry of New and Renewable Energy.

The agreement was reached on enhancing cooperation on offshore wind, battery storage, hydrogen safety and energy efficiency, and several MoUs were signed, said the release.

India is the world's third-largest consumer of energy, and it is estimated that energy consumption will increase more than any other country towards 2040.

"India is targeting net zero by 2070, and its success is key to fulfill the goals of the Paris Agreement. India has set ambitious climate goals, where increased renewable energy capacity and use of hydrogen will be important. Norway can contribute with the technology, capital and experience India needs to fulfil its goals, and Norwegian and Indian companies can excel the energy transition globally together", added Vestre.

Vestre also inaugurated the Norway-India Sustainability Forum which saw participation from over 150 Norwegian and Indian business representatives. Norwegian companies travelling with the Minister represent fields of renewable energy, circular economy and green maritime industries, among others, added the release.

"The business cooperation between Norway and India is deepening. Our leading and most recognized companies are well-established in India and contribute to jobs and sustainable development. Presently, there are now several new Norwegian businesses within renewable energy, hydrogen and energy storage, making exciting deals with Indian companies", said Cristian Valdes Carter, India Director at Innovation Norway and Commercial Counsellor at the Norwegian Embassy.

Vestre will also visit India's commercial capital Mumbai on Friday. The visit is the minister's first trip to Asia after he assumed office in the autumn of 2021.

Notably, Norway has one of the World's longest histories in producing Green hydrogen. The method was developed in Norway and the biggest production facilities are built in Norway.

Moreover, Norway can help India meet its energy needs, with a Climate Investment fund worth 200 million dollars.

( With inputs from ANI )

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