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Business News India: Latest Business News Today, Share Market, Economy

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Amid Hormuz crisis, PM Modi heads to UAE, Europe on cruci...
2026-05-15 · via Business News India: Latest Business News Today, Share Market, Economy

Prime Minister Narendra Modi will pay an official visit to the United Arab Emirates today, where he will meet the President of the UAE, Sheikh Mohamed bin Zayed Al Nahyan.

The visit marks the beginning of Prime Minister Modi’s five-nation tour from May 15 to 20 covering the UAE, the Netherlands, Sweden, Norway and Italy. The tour is expected to focus on trade and investment, energy cooperation, emerging technologies and strengthening India’s strategic engagement with Europe.

Prime Minister Modi will also participate in the 3rd India-Nordic Summit in Oslo during the visit.

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UAE visit to focus on energy cooperation and trade

Prime Minister Modi and Sheikh Mohamed bin Zayed Al Nahyan are expected to discuss bilateral relations, particularly energy cooperation, along with regional and international issues of mutual interest.

The leaders are also expected to review progress under the India-UAE Comprehensive Strategic Partnership, which is supported by close political, economic and people-to-people ties.

The UAE remains India’s third-largest trade partner and its seventh-largest source of investment over the past 25 years. Discussions are also expected to include the welfare of the more than 4.5 million Indians living in the Gulf nation.

Netherlands visit to deepen strategic cooperation

In the second leg of the visit, Prime Minister Modi will travel to the Netherlands from May 15 to 17 at the invitation of Dutch Prime Minister Rob Jetten.

This will be Prime Minister Modi’s second visit to the Netherlands after his previous trip in 2017.

During the visit, he will call on King Willem-Alexander and Queen Máxima and hold talks with Prime Minister Jetten.

The discussions are expected to cover defence, security, innovation, green hydrogen, semiconductors and water cooperation.

The Netherlands is one of India’s largest trade destinations in Europe, with bilateral trade worth $27.8 billion in 2024-25. It is also India’s fourth-largest investor, with cumulative FDI reaching $55.6 billion.

Sweden talks to focus on AI, startups and green transition

Prime Minister Modi will travel to Sweden on May 17 and 18 at the invitation of Swedish Prime Minister Ulf Kristersson.

The two leaders are expected to review bilateral ties and explore cooperation in artificial intelligence, green transition, emerging technologies, startups, resilient supply chains, defence, climate action and space.

India-Sweden bilateral trade reached $7.75 billion in 2025, while Swedish investment into India stood at $2.825 billion between 2000 and 2025.

Prime Minister Modi and Prime Minister Kristersson will also jointly address the European Round Table for Industry alongside Ursula von der Leyen.

Norway visit marks first Indian PM visit in 43 years

In the fourth leg of the visit, Prime Minister Modi will travel to Norway from May 18 to 19 for bilateral engagements and the 3rd India-Nordic Summit.

The visit will mark the first Prime Ministerial visit from India to Norway in 43 years.

Prime Minister Modi is scheduled to call on King Harald V and Queen Sonja and hold bilateral talks with Norwegian Prime Minister Jonas Gahr Støre.

The discussions are expected to focus on trade and investment, clean and green technology, blue economy cooperation and implementation of the India-EFTA Trade and Economic Partnership Agreement.

Bilateral trade between India and Norway stood at around $2.73 billion in 2024. Norway’s Government Pension Fund has also invested close to $28 billion in the Indian capital market.

Prime Minister Modi and Prime Minister Støre are also expected to address the India-Norway Business and Research Summit.

India-Nordic Summit to be held in Oslo

The 3rd India-Nordic Summit will take place in Oslo on May 19.

Prime Minister Modi will be joined by Norwegian Prime Minister Jonas Gahr Støre, Danish Prime Minister Mette Frederiksen, Finnish Prime Minister Petteri Orpo, Icelandic Prime Minister Kristrún Frostadóttir and Swedish Prime Minister Ulf Kristersson.

The summit is expected to focus on technology and innovation, renewable energy, sustainability, defence, blue economy, space cooperation and Arctic engagement.

India’s bilateral trade with Nordic countries stood at $19 billion in 2024.

Italy visit to conclude five-nation tour

In the final leg of the visit, Prime Minister Modi will undertake an official visit to Italy from May 19 to 20 at the invitation of Italian Prime Minister Giorgia Meloni.

Prime Minister Modi had last visited Italy in June 2024 for the G7 Summit.

During the visit, he will meet Italian President Sergio Mattarella and hold talks with Prime Minister Meloni.

The discussions are expected to review progress under the Joint Strategic Action Plan 2025-2029, which covers trade, defence and security, clean energy, innovation, science and technology, and people-to-people ties.

India-Italy bilateral trade reached $16.77 billion in 2025, while cumulative Italian FDI into India stood at $3.66 billion between April 2000 and September 2025.