India-Nordic Summit 2022- Highlights

Recently, Prime Minister Narendra Modi participated in the Second India-Nordic Summit.

Where was the summit held?

Copenhagen, the capital of Denmark.

What are the highlights of the summit?

• The Nordic countries reiterated their support for India’s permanent membership of the United Nations Security Council (UNSC).
• The leaders agreed to work together to fight and address climate change.
• They reiterated their commitment to ambitious cooperation on renewable energy, energy diversification, smart grids, and energy efficiency.
• The leaders affirmed their strong commitment to multilateralism and cooperation.
• Prime Minister Modi invited Nordic companies for investing in the blue economy sector, especially in Sagarmala Project. He also invited the sovereign wealth funds of the Nordic countries to invest in India.
• The PM also noted that India’s Arctic Policy provides a good framework for the expansion of India-Nordic cooperation in the Arctic region.

Which are the Nordic countries?

The Nordic countries are a geographical and cultural region in Northern Europe and the North Atlantic. The Nordic countries include Denmark, Finland, Iceland, Norway, Sweden, and the Faroe Islands (an archipelago of islands as an autonomous country within the kingdom of Denmark).

How women Prime ministers of Nordic countries are tackling climate change?

• Prime Minister Katrin Jakobsdottir of Iceland is a fervent supporter of the environment. She has mobilized Iceland to address climate change by reducing emissions, restoring wetlands, planting trees, and switching to renewable fuels — all to make Iceland carbon neutral by 2045.
• Prime Minister Sanna Marin of Finland is considered progressive due to her ideas on ways to combat climate change, which is on top of her agenda since she came into power.
• Prime Minister Magdalena Andersson of Sweden supports the fair distribution of resources.
• Prime Minister Mette Frederiksen of Denmark had promised to work toward cutting carbon emissions (as much as 70%) by 2030.

When was the first India-Nordic Summit held?

The first India-Nordic Summit was held in 2018 in Stockholm, Sweden.

What is the significance of the India-Nordic Summit?

Apart from the United States, India is the only other country with which the Nordic countries have summit-level engagement.

How much is the trade between India and Nordic countries?

India’s trade with Nordic countries stands at over USD 5 billion (2020-21).

Month: Current Affairs - May, 2022

Category: International / World Current Affairs