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Norway’s Crown Prince and Sonowal Open India Pavilion at Nor-Shipping Event in Oslo
The Crown Prince toured the pavilion alongside the Union Minister, who guided him through various exhibits. One highlight was the model of the National Maritime Heritage Complex (NMHC) located at Lothal in Gujarat, which captivated the Norwegian royal.
During the visit, the Crown Prince expressed interest in India’s maritime legacy, noting that “India’s four thousand-year-old maritime history predates the Norwegian Viking tradition.” The NMHC is focused on preserving and presenting India’s maritime heritage, tracing its roots from the Indus Valley Civilization to the present.
In his address, Sonowal remarked, “India is embarking on an ambitious maritime journey that respects our heritage while looking towards the future, echoing Prime Minister Narendra Modi’s philosophy of ‘Vikas Bhi, Virasat Bhi’ – Development alongside Heritage. This serves as a reminder that as we develop modern ports and ships, we must also celebrate our ancient maritime wisdom.”
The Crown Prince showed considerable interest in India’s recent economic success, praising its robust annual growth rate of over 6% this year. He also confirmed an upcoming visit to India later this year with a senior business delegation.
As a token of goodwill, Sonowal presented the Crown Prince with a commemorative plaque inspired by the Harappan civilization. He extended an invitation for the Crown Prince to visit the NMHC and sought Norway’s collaboration for the project’s successful implementation.
At the India Pavilion, leading Indian maritime entities showcased their work, including Cochin Shipyard Ltd (CSL), Garden Reach Shipbuilders & Engineers Ltd (GRSE), Goa Shipyard Ltd, Mandovi Dry Docks, and L&T Shipbuilding, along with key MSMEs in the maritime sector.
Sonowal emphasized the strong bilateral ties between India and Norway, two pivotal maritime nations with growing partnerships. Norwegian shipowners operate in India, employing Indian seafarers for 10% of their crews. Indian shipyards have constructed several large vessels for Norway, demonstrating India’s shipbuilding expertise. The collaboration also extends to the blue economy with joint efforts in marine spatial planning, pollution research, tsunami early warning systems, and deep-sea mining. The Joint Task Force on Blue Economy, established in 2019, continues to promote sustainable development and innovation in the maritime realm.
In a notable visit, Sonowal became the first Indian Minister to honor fallen sailors at the ‘Minnehallen Memorial’ in Stavern, paying tribute to the 86 Indian seafarers who lost their lives during World War II. Their names have been inscribed on copper plaques at the memorial.
Gold prices in India recorded a slight increase on January 19, 2026, supported by global market trends, local demand, and movements in the rupee-dollar exchange rate.
As per market estimates, 24-carat gold, which is considered pure gold, is priced at ₹14,569 per gram, or ₹1,45,690 per 10 grams. 22-carat gold, commonly used for jewellery, is trading at around ₹13,355 per gram, or ₹1,33,550 per 10 grams.
The prices have risen marginally compared to the previous day. The increase is mainly linked to a weaker Indian rupee against the US dollar, which makes imported gold more expensive.
Gold rates vary slightly across cities such as Mangalore and other parts of the country. These differences depend on local taxes, transportation costs, jeweller margins, and regional demand.
Demand for gold remains strong due to the wedding season and festive buying, which continues to support higher prices. Investors also turn to gold during uncertain economic conditions, as it is seen as a safe-haven asset.
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Experts say that global geopolitical developments, inflation concerns, and central bank policies are also influencing international gold prices, which in turn affect domestic rates.
Market participants expect gold prices to remain firm in the near term if the rupee stays weak and demand continues at current levels.
Gold prices witnessed a mild decline in the domestic bullion market on January 16, 2026. The price of 24-carat gold was recorded at ₹143,080 per 10 grams. This marked a fall of ₹360 compared to its previous closing price, indicating a soft trend in the precious metal market.
Similarly, the price of 22-carat gold also moved lower. It was trading at ₹131,157 per 10 grams during the day. The decline in gold prices reflects cautious sentiment among investors amid changing global economic signals.
Market experts said gold prices were affected by fluctuations in international markets and movements in the US dollar. Profit booking by investors at higher levels also contributed to the marginal drop in prices.
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Despite the decline, demand for gold remains steady in the domestic market. Jewellers reported moderate buying interest, especially for 22-carat gold used in jewellery. Industry participants are now closely watching global inflation data, interest rate trends, and geopolitical developments.
Gold prices are expected to remain volatile in the coming days. Investors are advised to keep an eye on global cues and currency movements before making fresh investments.
Silver prices fell sharply from record levels in the national capital on Thursday due to global profit-booking. The price of silver dropped by ₹12,500 to ₹2,43,500 per kilogram.
According to the All India Sarafa Association, the white metal had touched a record high of ₹2,56,000 per kilogram in the previous trading session on Wednesday. Silver had surged by ₹5,000 in that session amid strong global cues.
Gold prices also weakened on Thursday. The yellow metal declined by ₹900 per 10 grams in the local market. Traders attributed the fall to selling pressure after recent gains.
Market experts said that a rise in global prices earlier had encouraged investors to book profits. This selling pressure impacted both silver and gold prices in the domestic market.
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They added that movements in international bullion prices and a stronger dollar also influenced the decline. Investors are now closely watching global economic signals for further direction in precious metal prices.
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