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    COVER STORY                                                               MAY 22, 2026     |  The Indian Eye                    5

            monarchies, Russia, the United States
            and African producers.
                The UAE also represents some-
            thing  larger  in  India’s  geopolitical
            thinking: a stable Gulf partner capa-
            ble of acting as a regional anchor at
            a  time  when  tensions  involving  Iran
            threaten wider instability.
              Europe as an Economic and
                  Strategic Alternative
               f  the  UAE  leg  of  the  tour  was
               about  energy  and  regional  se-
            Icurity,  the  European  segment  is
            clearly about economic resilience and
            technological partnerships.
                In  Sweden,  Modi  repeatedly
            highlighted  the  global  uncertainty
            created  by  supply-chain  disruptions,
            technological competition and energy
            insecurity. Addressing the European
            CEO Round Table organized by Vol-
            vo in Gothenburg, he said, “In today’s
            world  marked  by  uncertainty,  where
            supply  chains  are  under  pressure,
            technological competition is intensify-
            ing, and both energy security and cli-
            mate action face challenges, at such a   Prime Minister Narendra Modi receives a guard of honor on his arrival, in Abu Dhabi on Friday. UAE President Sheikh Mohamed bin Zayed Al
            time, India and Europe can join forc-                              Nahyan also present. (@MohamedBinZayed/ANI
            es to become strong pillars of stability,
            sustainability, and shared prosperity.”
                This  statement  captured  the  es-  green  transition,  startups,  defense   ability to external shocks.  global  maritime  stability  and  openly
            sence of India’s current foreign policy   manufacturing, space technology and   Nordic Countries and Maritime   linked the Middle East crisis to inter-
            approach. New Delhi increasingly sees   climate initiatives.                    Security              national shipping concerns.
            Europe not merely as a trading part-  Modi’s  repeated  references  to                                    “With  the  situation  in  the  Mid-
            ner but as a strategic economic coun-  India’s startup ecosystem were aimed   he Norway leg of Modi’s tour   dle East, we completely depend on a
            terweight in an unstable global order.   directly  at  European  investors.  “To-  reveals  another  major  strate-  strong  partner  like  India,”  she  said,
            India  wants  European  investment,   day,  India  possesses  the  world’s  Tgic concern — maritime trade   adding that India’s support for inter-
            advanced  technology,  clean-energy   third-largest  startup  ecosystem.  Our   security. The Iran conflict has reignit-  national maritime law was crucial “so
            cooperation, and manufacturing part-  startups are creating global solutions   ed  fears  about  shipping  disruptions   that  ships  can  start  sailing  through
            nerships  as  it  attempts  to  transform   in  AI,  Fintech,  Space,  Drones  and   through the Strait of Hormuz. This is   Hormuz again.”
            itself  into  a  global  production  hub.  Mobility,” he said.      why comments made ahead of Modi’s     These remarks underline India’s
                The  emphasis  on  the  India-Eu-  The  pitch  is  clear:  India  wants   visit  by  Line  Falkenberg  Ollestad  of   growing importance in maritime geo-
            ropean Union Free Trade Agreement   capital,  technology  and  innovation   the  Norwegian  Shipowners’  Associ-  politics.  As  global  trade  routes  face
            during the visit was especially notable.   partnerships  that  can  accelerate  do-  ation are particularly significant. She   increasing  risks,  countries  like  Nor-
            Modi said there was now a consensus   mestic growth while reducing vulner-  stressed  the  importance  of  India  in   way see India as an indispensable In-
            regarding  the  agreement  and  both                                                                  do-Pacific partner capable of helping
            sides were endeavoring to implement                                                                   maintain shipping stability.
            it  “as  soon  as  possible.”  For  India,                                                                For  India,  maritime  security  is
            the FTA has gained urgency because                                                                    inseparable  from  energy  security.
            global economic fragmentation is ac-                                                                  Any  disruption  in  shipping  routes
            celerating.  Protectionism,  sanctions,                                                               affects oil imports, exports, manufac-
            wars  and  geopolitical  rivalry  are  re-                                                            turing  and  inflation  simultaneously.
            shaping trade patterns worldwide.                                                                     Strengthening cooperation with mar-
                India’s  attempt  to  attract  Eu-                                                                itime nations such as Norway there-
            ropean  capital  also  comes  as  many                                                                fore serves both economic and strate-
            Western companies seek alternatives                                                                   gic objectives.
            to overdependence on China. By pre-                                                                       The India-Nordic Summit in Oslo
            senting India as politically stable, eco-                                                             also reflects India’s broader northern
            nomically  dynamic  and  strategically                                                                Europe strategy. Nordic countries of-
            reliable, Modi is attempting to posi-                                                                 fer expertise in green shipping, clean
            tion the country as a central node in                                                                 technology,  renewable  energy  and
            emerging global supply chains.                                                                        sustainability  —  sectors  that  India
                Sweden fits neatly into this strate-                                                              considers essential for long-term eco-
            gy. Bilateral trade between India and                                                                 nomic transformation.
            Sweden reportedly touched USD 7.75   Prime Minister Narendra Modi along with Prime Minister of the Netherlands, Rob Jetten, visits   Norway’s sovereign wealth fund,
            billion  in  2025,  while  cooperation  is        Afsluitdijk dam, on Sunday. (DPR PMO/ANI Photo)     one of the world’s largest investment
            expanding  in  artificial  intelligence,                                                                     Continued on next page... >>

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