FM Nirmala Sitharaman to push biopharma, semiconductor missions in Norway

New Delhi: Finance minister Nirmala Sitharaman will huddle with Norwegian industry captains to explore long-term capital investments and interact with senior representatives of cutting-edge startups there to promote India's bio-pharma and semiconductor initiatives. Sitharaman, who reached Oslo on an official trip on Monday, will meet Norway's Prime Minister Jonas Gahr Store and finance minister Jens Stoltenberg to deepen bilateral relations, according to the finance ministry.

During her visit to Oslo Science Park for interactions with startup leaders, the minister will highlight her recent budget announcement on Biopharma SHAKTI, a ₹10,000-crore plan spanning five years to develop India as a global biopharma manufacturing hub. She will also discuss the semiconductor missions 2.0 to fortify such supply chains.

Her scheduled roundtable with Norwegian industry leaders will aim to explore long-term investments through the National Investment and Infrastructure Fund and International Financial Services Centre.

Munich Security Conference

Before her visit to Norway, Sitharaman had attended the 62nd Munich Security Conference, often referred to as the 'Davos of Security', on Saturday, signalling that economic stability is inseparable from global security.

Since its inception in 1963, the Munich Security Conference has provided a platform for heads of state, ministers, military leaders, CEOs, civil society representatives, and policy experts for deliberations.

The conference functions as a marketplace of ideas, where red lines are tested, strategic shifts are signalled, and global alignments are quietly shaped. This year, India was represented in key sessions of the conference by Sitharaman and external affairs minister S Jaishankar. Participating in a session titled 'Degrees of Instability: Climate Security in a Warming World', Sitharaman underscored India's commitment to climate responsibility.