India-Norway Climate Collaboration Takes Off at INDICA 2025 in Oslo

India Nordic Dialogue for Investments in Climate Action (INDICA), 18 June 2025, Oslo

In a powerful demonstration of shared climate ambition, Bharatia and CETFI (Climate & Energy Transition Finance Initiative)—in partnership with the Embassy of India, Oslo, the Norway India Chamber of Commerce and Industry (NICCI), and DLA Piper—hosted the inaugural India Nordic Dialogue for Investments in Climate Action (INDICA) in Oslo.

The event brought together over 50 senior leaders from across industry, government, finance, and innovation ecosystems to forge practical, finance-led pathways for climate collaboration between India and the Nordic region.

Three Strategic Dialogues Framed the Day

The INDICA forum was anchored by three high-impact, action-oriented dialogues:

🔹 Dialogue 1: India–Nordic Ambition for Climate Investments A strategic conversation highlighting the synergies between Nordic technology leadership and India’s scale and implementation capacity.

🔹 Dialogue 2: Innovative Structures to Unlock Scale-up Capital A deep dive into how institutional capital—over USD 125 trillion globally—can be mobilised through de-risked, replicable investment structures for climate infrastructure.

🔹 Dialogue 3: India, Nordics and the Global South A forward-looking session on how partnerships between India and the Nordic nations can shape affordable, scalable models for climate transition in emerging economies.

Insights That Moved the Needle

The discussions revealed compelling opportunities for mutual benefit:

• Norwegian climate opportunities for Indian investors, especially in bioresources, carbon management, and marine sustainability.

• Indian sectoral openings for Nordic technologies—from renewable energy to wastewater reuse, agri-tech to digital infrastructure.

  
  

A recurring theme was the need to make climate technologies affordable to reduce dependency on subsidies and enable mass adoption, as exemplified by India’s solar journey.

🔑 Key insight: Affordability unlocks scale. Scale unlocks investability.

Key Takeaways from INDICA 2025

✅ Climate finance still leans heavily on subsidies—affordable tech is the antidote. ✅ Mass adoption, as seen in solar, can drive costs down rapidly. ✅ Institutional investors are looking for de-risked, scalable pathways. ✅ India and the Nordics, with their complementary strengths, can co-create models that work for the Global South. ✅ Climate-tech commercialisation must be paired with finance innovation and local demonstration.

🤝 Milestone Moment: A Bridge Between Norway and India

The event also marked a concrete step forward: Bharatia and NICCI signed a Memorandum of Understanding (MoU) to create an Accelerator Bridge—a structured platform to bring Norwegian climate technologies into the Indian market through validation, localisation, and scale-up.

This bridge will support a portfolio of first-of-a-kind (FOAK) projects in India, backed by the VIPERS methodology and the CETFI ecosystem, laying the groundwork for NOAK (Nth-of-a-kind) deployment across the Global South.

🌐 A New Chapter Begins

INDICA 2025 signals the beginning of a bold new chapter in India–Nordic climate collaboration. With shared values around sustainability, innovation, and economic inclusion, the two regions are poised to become co-architects of globally relevant, locally grounded climate finance and technology models.

🙏 Bharatia and CETFI extend deep gratitude to all partners, speakers, and delegates whose insight and energy made INDICA 2025 a resounding success.

The movement has begun. Let’s keep building.