This Summit builds upon the previous two Summits held in Copenhagen in 2022 and Stockholm in 2018.
- Nordic group is a highly advanced regional bloc consisting of 5 countries (Norway, Sweden, Finland, Iceland, and Denmark).
Key outcomes of the Summit
- Green Technology: India elevated its relations with the Nordic region to a "Green Technology and Innovation Strategic Partnership”.
- UN Security Council Reform: The Nordic Prime Ministers officially reiterated their support for India to become a permanent member.
Why are Nordic countries significant for India?
- Economic and Trade: The Nordic bloc is an advanced region with a combined GDP of around $2 trillion.
- Bilateral trade between India and the Nordics reached $19 billion in 2024.
- India and EFTA (includes Norway and Iceland) signed the Trade and Economic Partnership Agreement (TEPA) aimed for investment of USD 100 billion leading to creation of 1 million direct jobs in India.
- Strategic Access to the Arctic Region: As all 5 Nordic nations are members of the Arctic Council (India is an observer state), a vital gateway to Arctic engagement serves as a counterweight to China's "Polar Silk Road" initiative in the region.
- Technological and Green Expertise: E.g., Iceland offers deep expertise in geothermal energy, Sweden provides strength in advanced manufacturing, Finland specializes in telecommunications
