BAKU, Azerbaijan, May 5. Indian Prime Minister Narendra Modi has suggested the companies of the Nordic countries (Denmark, Norway, Sweden, Finland, and Iceland) to invest in the “blue economy”, a sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of ocean ecosystem, Trend reports via Indian media.
The issue was discussed at the second India-Nordic Summit, which was also attended by PM of Denmark Mette Frederiksen, PM of Iceland Katrin Jakobsdottir, PM of Norway Jonas Gahr Store, PM of Sweden Magdalena Andersson, and PM of Finland Sanna Marin.
“As leading ocean nations, India and the Nordic countries agreed on the benefits of partnering on transforming the shipping industry towards a low carbon future through an exchange of good practices and technology transfers,” the joint statement from the sides said.
According to the PM, India would also like to see Nordic companies participating in India’s Sagarmala project, a governmental initiative to enhance the performance of the country's logistics sector.
The sides agreed to work together on addressing climate change and protect the natural environment in accordance with the Paris Agreement, a legally binding international treaty on climate change.
The acceleration of the global green transition to combat climate change is one of the greatest and most imminent global challenges, the parties noted.
As the joint statement concluded, India and Nordic countries are committed to ambitious cooperation in renewable energy, energy diversification, smart grids, and energy efficiency.