FM Nirmala Sitharaman to Push Biopharma, Semiconductor Missions in Norway

Why It Matters

The outreach could unlock critical foreign funding and technology, accelerating India’s ambition to become a global biopharma and semiconductor manufacturing hub while deepening Indo‑Norwegian strategic ties.

Key Takeaways

• Biopharma SHAKTI allocates ₹10,000 crore over five years.
• Semiconductor Missions 2.0 targets resilient supply chains.
• Norway meeting explores National Investment Fund collaborations.
• International Financial Services Centre discussed for joint ventures.
• Munich Security Conference linked climate security to economic stability.

Pulse Analysis

India’s dual thrust on biopharma and semiconductors reflects a strategic pivot toward high‑value manufacturing. The Biopharma SHAKTI initiative, backed by a ₹10,000‑crore budget, aims to position the country as a global drug‑production hub, addressing both domestic demand and export potential. Simultaneously, Semiconductor Missions 2.0 seeks to shore up a fragile supply chain that has been exposed by recent geopolitical shocks, emphasizing indigenous design, fabrication, and ecosystem development.

Norway offers a complementary partner with deep expertise in life‑science research, precision engineering, and sustainable technology. By leveraging the National Investment and Infrastructure Fund and the International Financial Services Centre, Indian officials hope to channel Norwegian capital into joint ventures, R&D collaborations, and green manufacturing facilities. Such partnerships could accelerate technology transfer, provide access to European markets, and embed ESG standards into India’s emerging industrial clusters.

The broader diplomatic backdrop underscores the intertwining of economic and security agendas. Sitharaman’s recent appearance at the Munich Security Conference highlighted climate security as a pillar of stability, reinforcing India’s commitment to sustainable growth. Aligning biopharma and semiconductor ambitions with climate‑resilient policies not only attracts environmentally conscious investors but also strengthens India’s position in global value chains, mitigating risks from supply disruptions and geopolitical tensions.

FM Nirmala Sitharaman to push biopharma, semiconductor missions in Norway

ET Bureau · Last Updated: Feb 17 2026, 12:36:00 AM IST

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 round‑table with Norwegian industry leaders will aim to explore long‑term investments through the National Investment and Infrastructure Fund and the International Financial Services Centre.

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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.