Context

• Raisina Dialogue was recently attended by eight Nordic-Baltic countries in New Delhi.

Key Points

• During this, clean and green technologies, digital and cyber cooperation were discussed.
• Regional, global and multilateral issues were also discussed by the foreign ministers.

Nordic-Baltic countries' diverse relations with India

• Nordic-Baltic cooperation with India spans diverse areas such as innovation, green transition, maritime, health, intellectual property rights, new technologies, space cooperation and artificial intelligence, student exchanges, culture and tourism.
• Trade and investment figures between NB8 and India are continuously increasing.
• It is noteworthy that at a time of geopolitical change, the security of the Nordic-Baltic region and the Indo-Pacific are interconnected.
• These countries are also cooperating in upholding international law and building capacity to deal with traditional and non-traditional security threats.

Background of India-Nordic relations

• The first two India-Nordic summits were held in Stockholm in April 2018 and Copenhagen in May 2022, respectively.
• The 2nd CII India Nordic Baltic Business Conclave was held in the national capital in November 2023.
• It is noteworthy that India's engagement with NB8 countries has increased markedly in the last few years.
• India opened its embassy in Tallin in December 2021 and in Vilnius in March 2023.
• Talking about economic relations, India's exports to the Nordic region have increased by over 39 per cent from 2018-19 to 2022-23 and exports to Finland and Norway have increased by over 100 percent and 80 per cent respectively.

Important Facts For Exam

What is NB8?

• NB8 is a regional cooperation format that brings together the Nordic countries and the Baltic states.
• In 2000, it was decided that the Nordic-Baltic cooperation format would be called the Nordic-Baltic Eight (NB8).
• Five Nordic countries: Denmark, Finland, Iceland, Norway and Sweden.
• Three Baltic states:Estonia, Latvia and Lithuania.
• The grouping shares historical, cultural and geographical ties, promoting engagement and cooperation in various fields including political, economic, trade, security and culture.
• The Nordic countries are located in Northern Europe and share similarities in governance, social systems and values, the Baltic states are located in Northeastern Europe and have a unique historical background and geopolitical situation.
• These countries collectively represent an economy of over US$2 trillion, have a population of approximately 33 million and a high standard of living.