Maritime Nation India

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Mumbai Front Bay. Photo: Leon Yaakov/Flickr.

Last week, the Maritime Nation India conference took place in Mumbai. Topics up for discussion were India as a maritime nation, creation of maritime infrastructure in India and abroad, and building and maintaining maritime transportation assets with focus on shipbuilding and repairing. As both are maritime nations, there is a great potential for Norway and India to cooperate in this field.

Innovation Norway, the commercial section of the Norwegian Embassy in New Delhi, attended the event and participated in a panel discussion on how to collaborate to support the creation of maritime infrastructure and assets. 

Helge Tryti, Director of Innovation Norway, India shared the Norwegian perspective on creating maritime infrastructure, including shipbuilding and equipment supplies, distribution of LNG (liquefied natural gas) and offshore wind farms. Other areas he highlighted were modernization of fishing vessels and inland waterways.

Mr. Tryti also mentioned the maritime clusters under the Sagarmala project, an initiative of the Government of India to modernize India's ports, as a possibility where Norway and India can work together. Other participants in the panel included the EXIM Bank of India, PwC India and Edelweiss Financial Services.

According to the Leading Maritime Capitals of the World Report 2017, Oslo came out as the Leading Maritime Technology Center globally this year. Oslo is an important hub for financing of ship building activity. As India embarks on the journey to become a blue-economy, there is lot of potential for Norway and India to work together in different aspects of Ocean Space including the financing part. Export Credit Norway, which offers competitive financing to buyers of Norwegian capital goods and services worldwide, is active in India. This event was a step in the direction of further strengthening the Norway-India maritime cooperation.