The Union Cabinet
chaired by Prime Minister Narendra Modi has approved the Memorandum of
Understanding (MoU) between India and Norway on India-Norway Ocean Dialogue. The
MoU will promote cooperation in the areas of mutual interest pertaining to the
development of Blue Economy.
Norway is a global
leader in the area of Blue Economy and has cutting-edge technologies and
expertise in areas such as fisheries, hydrocarbons, renewable energy,
sustainable harnessing of ocean resources and maritime transport.
The proposed MoU
will contribute to create opportunities for collaboration in areas such as
exploitation of hydrocarbons and other marine resources, as well as management
of Ports and tourism development for the mutual benefit of all stakeholders
within the framework of the Joint Task Force (JTF).
It will contribute
to the objective of Food Security through infusion of new technologies in
fisheries and aquaculture. It will further offer a platform for businesses in
both countries to execute profitable ventures. Scientists and researchers may
collaborate on studying ocean ecosystem also in the context of the Arctic