India-Nordic Summit

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Context

On May 4, 2022, Prime Minister Narendra Modi took part in the 2nd India-Nordic Summit.
The conference was also attended by the prime ministers of Denmark, Iceland, Finland, Sweden, and Norway.
Denmark is the host country for the summit.

What is the Background?

The first India-Nordic Summit was held in Stockholm in 2018.
The second summit, which was originally slated for June 2021, has been rescheduled.
The six nations' commitment to global security, economic growth, innovation, and climate change was reaffirmed at the 2018 India-Nordic Summit.

Why Nordic countries are important for India?

The Nordic countries have a combined economy of more than $1.6 trillion.
India and the Nordic nations have a total trade volume of $13 billion in products and services.
All of these nations are among the highest achievers in a variety of fields, including innovation, renewable energy, green technology, and education.

What is the significance?

The importance of this gathering for India may be gauged by the fact that the United States is the only other country with which the Nordic states have a summit-level relationship.
The India Nordic Summit contributes to the expansion of India's diverse collaboration with the Nordic area.
The topics discussed at this year's conference included post-pandemic economic recovery, climate change, innovation and technology, renewable energy, the developing global security picture, and India-Nordic collaboration in the Arctic.
In the areas of sustainability, renewable energy, digitalisation, and innovation, the Nordic nations are essential partners for India.
The Summit's main focus was on how to go forward with the bilateral engagement agenda between India and the Nordic nations.