Prime Minister Modi invites Nordic companies to invest in the Sagarmala project

Prime Minister Modi invites Nordic companies to invest in the Sagarmala project

Copenhagen [Denmark]May 4 (ANI): On Wednesday, Prime Minister Narendra Modi invited Nordic companies to invest in the blue economy, including the Sagarmala project, and asked the Nordic countries’ state wealth funds to invest in India.

As part of the Sagarmala program, more than 800 projects at an estimated cost of approximately 5.48 lakh crore Rs have been identified for implementation.

Sagarmala projects include projects from various categories such as modernization of existing ports and terminals, new ports, terminals, inland waterways, lighthouse tourism and skills development, etc.

Prime Minister Modi made this pitch at the second India-Nordic summit. The summit was attended by the Prime Minister of Denmark Mette Frederiksen, the Prime Minister of Iceland Katrin Jakobsdottir, the Prime Minister of Norway Jonas Gahr Store, the Prime Minister of Sweden Magdalena Andersson and the Prime Minister of Finland Sanna Marin.

Prime Minister Modi and his Nordic counterparts agreed to work together to combat and tackle climate change and protect the natural environment in accordance with the Paris Agreement.

The summit provided an opportunity to review the progress in the India-Nordic relations since the first India-Nordic summit, which was held in 2018 in Stockholm.

Discussions were held on multilateral cooperation in post-pandemic economic recovery, climate change, sustainable development, innovation, digitalisation and green and clean growth. Discussions were also held on cooperation in the maritime sector with a focus on sustainable maritime management. Prime Minister invited Nordic companies to invest in the blue economic sector, especially in India’s Sagarmala project “, says the Ministry of Foreign Affairs (MEA) in a press release.

The prime ministers agreed to work together to combat and tackle climate change and to protect the natural environment in accordance with the Paris Agreement, according to a joint statement.

The summit noted that the acceleration of the global green transition to combat climate change is one of the biggest and most imminent global challenges.

“At the same time, a successful transition to a sustainable economy offers enormous opportunities including new jobs. The need to set ambitious targets for reducing emissions and concrete implementation plans were emphasized, which will facilitate the contribution of business actors to accelerating the transition,” the JOINT STATEMENT. read.

The Prime Ministers welcomed the international agreement at COP26 on the need for accelerated climate action to keep global average temperatures rising well below 2 degrees above pre-industrial levels and to continue efforts to limit temperature rises to 1.5 degrees above pre-industrial levels. level.

According to the statement, India and the Nordic countries are committed to ambitious cooperation on renewable energy, energy diversification, smart grids and energy efficiency.

The leaders further discussed co-operation on environmental sustainability including clean water, clean air and the circular economy, which is crucial, not only for maintaining and supporting biodiversity, water and wildlife, but also as a basis for food safety, human health and prosperity.

The statement states that India and the Nordic countries have also committed themselves to adopting the ambitious Post 2020 Global Biodiversity Framework in the forthcoming second part of COP15 of the Convention on Biological Diversity, which will be held in Kunming, China and work together to implement it.

The Prime Ministers agreed that the blue economy can deliver economic growth, new jobs, improved diets and increased food security, if managed in a sustainable way.

“As a leading maritime nation, India and the Nordic countries agreed on the benefits of working together to transform the shipping industry towards a future of low-carbon emissions through the exchange of good practice and technology transfer,” the statement said. (ANI)


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