Oslo Calling: Why Norway matters to India
The three-day state visit by President Pranab Mukherjee to Norway beginning October 12 is indicative of the growing importance New Delhi is now attaching to its ties with Oslo, described by a senior Indian diplomat as “problem-free” in all these many years. There are several reasons why India is seeking to push for even closer ties across a range of areas with Norway, not the least of which would be greater co-operation in the energy sector.
India is also eyeing a larger slice of the pie from the Norwegian Government Pension Fund, which is the largest sovereign wealth fund in Europe with $ 850 billion in its kitty. Keen to give the infrastructure and other sectors the necessary boost, India wants a substantial increase in the current investment that stands at a piffling $4 billion at present.