India’s energy opportunity: “It comes on a platter.”

That’s how Dr. Kaustav Nag, Additional Director General, Ministry of Petroleum and Natural Gas in India, framed it for NICCI’s energy roundtable in Stavanger this week.

India needs an estimated $340–385bn in new power investment by 2030.

NICCI gathered 25+ energy leaders, from Cyient, Smartfarm and Seid to Fishbones AS, Schjødt and Infosys.

Our keynote speaker Narendra Taneja‘s line landed hardest: Norwegian energy companies are too comfortable. Waiting for India to come knocking. It won’t.

The room backed both of them up with specifics:

Espen Berg of Cyient was direct about it: Norway doesn’t get energy engineering done without India anymore.

Terje Hauan of Seid, who has many years of experience in India, said his math on partnership with India is: “1 and 1 is 11.”

Gautham Ram of IGP Engineers said Indian firms are moving on from a buy-and-sell relationship. They want partners. Companies like his own engineering group are ready to invest considerably to build new product lines in their own factories in India.

Nobody in the room argued the point: Norway’s energy sector needs India; on production, on talent and on market access. Norway has a lot to offer on technology, know-how and investments. Eirik Renli representing the region’s business association, said local energy companies are ready to pursue the India opportunity.

Thanks to Judah Fernandez of Kilowott for moderating and to Schjødt for hosting us in their Stavanger office.

In our networking following the NICCI meeting I lost count of the good conversations. Several are already turning into follow-up, both in Stavanger (were NICCI’s network is growing faster than anywhere else in Norway right now) and during our delegation to Mumbai and Goa this November.

– Trond Skundberg