Task Force Meet: India and Norway to strengthen their BLUE ECONOMY PARTNERSHIP

In January 2019, India and Norway jointly inaugurated a Task Force of Blue Economy for Sustainable Development. The third meet of the task force was held on February 18, 2020.

They also launched a new collaboration of Integrated Ocean Management and Research at the meet.

Highlights

India and Norway have been strengthening their ties making Indo-Norwegian Ocean Cooperation as a key pillar in their bilateral relationship. The task force aims at mobilizing stakeholders of India and Norway at the highest level to ensure progress across ministries and agencies.

Significance

India being the largest democracy plays a major role in sustainable development both globally and regionally. Also, 15% of Indian population residing in Norway are in the coastal region. Above all, 70% of the Norwegian Economy depends on maritime industry of the country.

The task force was set up at the India Norway Business Summit.

India Norway Business Summit

The Summit was held in New Delhi in January 2019 during the visit of Norwegian PM to India. Around 15 MoUs were signed at the summit. It includes sustainable sea food production, smart grids, energy markets, green shipping, digital solutions, etc. Green shipping is use of LNG.

Month: Current Affairs - February, 2020