India Nordic Dialogue for Investments in Climate Action
- CETFI_Reporter
- Apr 25
- 4 min read
Updated: Jun 14
Unlocking the Future: The India Nordic Dialogue for Investments in Climate Action (INDICA)
As the world races to meet its climate goals, cross-continental cooperation has never been more critical. Recognising this, the India Nordic Dialogue for Investments in Climate Action (INDICA) will officially launch in Oslo, Norway this June. This timely initiative aims to forge a dynamic and enduring alliance between India and the Nordic countries, focusing on accelerating climate investments in one of the world’s fastest-growing green economies.
A Shared Vision for Climate Action
INDICA is more than a platform—it is a strategic bridge connecting India’s climate and energy ambitions with Nordic countries’ leadership in sustainable innovation and climate finance. With India’s climate economy projected to unlock a $5 trillion opportunity, there is an urgent need to catalyse international capital and know-how to meet this ambition. The Nordic region—comprising Denmark, Finland, Iceland, Norway, and Sweden—has long been at the forefront of climate-conscious development. By fostering meaningful partnerships between Nordic investors and Indian stakeholders, INDICA seeks to accelerate the deployment of capital into climate-positive sectors across India.
Why Now?
India is making bold strides in clean energy, sustainable infrastructure, and climate resilience. As the country pursues its net-zero target by 2070, the need for targeted and timely investments has never been more acute. From large-scale renewable energy parks to urban mobility solutions, India offers a vast landscape of investible opportunities. Yet, unlocking this potential requires not just funding—but partnerships rooted in trust, innovation, and aligned values.
This is precisely where Nordic countries, with their robust ecosystems of green finance, public-private collaboration, and technological leadership, come in. INDICA is designed to facilitate these synergies—ensuring that Nordic investors are well-positioned to both contribute to and benefit from India’s climate transition.
INDICA’s Core Objectives
The platform is structured around three foundational pillars:
1. Facilitate Collaboration
INDICA will serve as a dedicated platform for engagement between Nordic investors and Indian policymakers, project developers, and financial institutions. This direct interface is critical to demystifying India’s regulatory frameworks, building confidence among investors, and forging long-term partnerships.
2. Enable Knowledge Sharing
A key strength of Nordic economies lies in their extensive experience in climate finance. INDICA will facilitate the sharing of best practices in green financing mechanisms, risk-sharing models, and impact assessment methodologies. This knowledge exchange will help Indian stakeholders develop robust, bankable projects that meet global sustainability standards.
3. Accelerate Investments
INDICA will focus on driving investments into priority sectors, including:
Renewable energy (solar, wind, small-hydro and hybrid projects)
Water and waste management
Electric mobility
Ocean economy and blue carbon
Bio-energy and bio-economy
Sustainable agriculture
Built environment and smart cities
Climate adaptation and resilience
These sectors not only align with India’s national priorities but also offer scalability, innovation potential, and attractive returns for Nordic investors.
INDICA in Action: A Summary of Strategic Initiatives
To operationalise its objectives, INDICA will roll out a suite of high-impact activities that create visibility, reduce risk, and foster collaboration:
🗂️ India-Nordic Investment Opportunities Register
This compendium will showcase a curated list of qualified investment propositions, including marquee and early-mover projects across the priority sectors. The register will provide project-level details and facilitate direct engagement between investors and project sponsors.
📊 Risk Management Framework
INDICA will work with stakeholders to develop a jointly agreed risk management framework. This will be tailored to the needs of Nordic institutional investors, strategic investors and sovereign wealth funds, with a focus on de-risking instruments, blended finance, and sovereign guarantees where applicable.
💼 Model Investment Structures
To streamline capital deployment, INDICA will present innovative financial structures that lower investment barriers. These may include listed feeder funds, pooled vehicles, green bonds, and public-private co-investment models—designed to provide both flexibility and transparency.
🌍 Investment Roadshows
Sector-specific roadshows will be held across Nordic capitals, offering deep dives into key themes such as renewable energy storage, climate-smart agriculture, and blue economy ventures. These events will feature Indian and Nordic stakeholders and spotlight investible projects.
📘 Research and Reports
INDICA will commission and publish in-depth policy and market insights—from regulatory updates to financial innovations and case studies. These will serve as essential tools for investors looking to enter or expand in India’s climate market.
🧭 Annual Summit and Roundtables
The platform will convene an Annual Summit, rotating between India and the Nordic region, alongside regular thematic roundtables. These high-level gatherings will showcase investment opportunities, surface policy bottlenecks, and help co-create solutions in real time.
Looking Ahead: The INDICA Launch
Details on each of these initiatives will be unveiled at the INDICA launch event on 18 June 2025 in Oslo.
Participants can expect a dynamic programme featuring:
Presentations of flagship Indian projects
Investor roundtables with senior government officials
Announcement of early partnerships and memoranda of understanding (MoUs)
Policy dialogues on enabling regulatory frameworks
A Platform with Purpose
INDICA is not just about capital flows—it’s about building trust, accelerating innovation, and co-creating a green future. It marks a shift in how we think about development cooperation: not as charity or aid, but as a mutual opportunity to solve shared challenges. By tapping into the Nordic expertise and aligning it with India’s vast climate goals, INDICA holds the promise to become a model for climate partnerships between the Global South and the Global North.
In a world grappling with both climate urgency and economic uncertainty, INDICA offers a hopeful blueprint—one where collaboration trumps competition, and long-term value creation is rooted in sustainability.
Mark your calendar for 18 June 2025, and join us in Oslo as we usher in a new era of climate cooperation and investment innovation. The time to act is now—and INDICA is ready to lead the way.
