Invest in Norway

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Photo: Invest in Norway

There are many good reasons for doing business in and with Norway, such as the high level of education, high productivity, and a longstanding culture of innovation. Norway has one of the world’s strongest economies. High priority is given to knowledge development, innovation, technology and maintaining a sustainable business sector.

On 17th March Innovation Norway organised an Invest in Norway Seminar at Taj Mahal Hotel, New Delhi.

The seminar focused on two main sectors, healthcare and renewable energy. The event was well attended and the participants included Norwegian and Indian companies in from both sectors, representatives from Norwegian clusters, business consultants and banks.

Ambassador Kamsvåg formally opened the seminar; in his address, he highlighted the strengths of Norway in these sectors. The India Representative of DNB, Norway’s largest financial services group, made highlighted the bank’s strategy and focus areas.

Mr Dag Ivar Brekke, Special Advisor, Invest in Norway, Oslo presented about the investment climate in Norway, incentives for Indian companies, competition, sector conditions and reasons for investing  in Norway.

The seminar thereafter consisted of two parallel sessions, on healthcare and renewable energy respectively.

The Renewable session saw a very healthy participation from Indian Renewable majors such as Tata, Jindal Steel, India Biogas, India Smart Grid Forum, Hero Energies. Mr Oluf Ulseth, Chief Executive in the Norwegian electricity industry association Energy Norway and Mr Dag Ivar Brekke spoke about energy systems in Norway, Norwegian power structure and opportunities in sector, addressed the segment.

Further, a segment on Small and Medium Enterprises (SME) was organized. Growing Indian companies such as Sustain Impact, Magpie Hydro, Indian IRIS and Biotech Renewable Energy presented their solution and the esteemed panelist of Norwegian experts namely Mr. Dag Brekke, Mr. Oluf Ulseth and Mr. Bredo Erichsen, Country Head of Statkraft India reviewed the SME with respect to their suitability in Norwegian ecosystem.

Larger Indian Corporates such as Jindal Steel and Power Grid presented their areas of operation and highlighted what they can offer to Norway. The session was followed by a questions and answer segment, wherein Indian counterparts explored specific opportunities in Norway.

Similarly, Ms. Hanne Mette Dyrlie Kristensen, Senior Adviser Health, Biotech and Medtech, Greater Oslo Region, Innovation Norway led the healthcare session. She gave a general overview of the Norwegian Health Industry.

Mr Odd Arild Lehne, Senior Vice President (International Operations) –Oslo Medtech presented Norwegian strengths and expertise in Medical technology and the Nordic Connected Care project.

Other Norwegian companies in this session included, Laerdal, LipiDx, Pubgene, HTS Besafe and Skannex. The Indian side shared their expertise in healthcare and in extent their expectations from Norway. Speakers included - Dr Vishal Bansal, CEO, Healthstart; Mr Sunil Kumar Bahl, Director-Business Development, Serum Institute of India; and Mr C Padmakumar, Chairman & Managing Director, Terumo Penpol Private Limited. The session ended with networking and B2B meetings.

A number of follow up actions have emerged from both the sessions that will be taken up by Innovation Norway.

This is an important step to further boost co-operation in the two sectors.