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What is the News?
The Indian Prime Minister has attended the second India-Nordic Summit at Christiansborg Palace in Copenhagen, Denmark.
What is the India-Nordic Summit?
It is a summit between India and Nordic Countries namely Denmark, Iceland, Finland, Sweden and Norway.
Purpose: The summit primarily focused on post-pandemic economic recovery, climate change, renewable energy, and the evolving global security scenario.
Note: The first India-Nordic summit was held in Stockholm, Sweden in 2018.
Significance: India is the only other country besides the United States that the Nordic countries engage with on a summit level, highlighting the significance of the partnership.
Why are Nordic countries important for India?
Nordic countries collectively represent an economy of more than $1.6 trillion.
Total bilateral trade in goods and services between India and the Nordic countries is $13 billion.
All these countries figure among the top achievers in several areas of human endeavour, particularly innovation, clean energy, green technologies, and education.
What are the key highlights from the summit?
UNSC Reforms: The Nordic countries reiterated their support for India’s permanent membership in a reformed and expanded United Nation Security Council(UNSC).
India and the Nordic countries emphasized the importance of green technologies and industry transition with Leadership Group for Industry Transition (LeadIT) as a notable example.
Nordic Prime Ministers reiterated their strong condemnation of the unlawful and unprovoked aggression against Ukraine by Russian Forces.
Source: The post is based on the article “Joint Statement : 2nd India-Nordic Summit” published in PIB on 4th May 2022.