Norway is eagerly awaiting the upcoming visit of Prime Minister Narendra Modi, with Norwegian Prime Minister Jonas Gahr Støre expressing strong interest in expanding bilateral cooperation across key sectors.
During a meeting with Union Finance Minister Nirmala Sitharaman in Oslo, Støre praised India’s ongoing reform momentum and highlighted potential collaboration in fisheries, health technology, maritime industries and space. He also acknowledged the valuable contribution of the Indian diaspora in Norway.
According to a statement from the Finance Ministry, both sides discussed the operationalisation of the India-EFTA Trade and Economic Partnership Agreement (TEPA) and explored investment opportunities in high-tech manufacturing, carbon capture and storage, startups, semiconductors, renewable energy and waste management.
Sitharaman also held discussions with Cecilie Myrseth, Norway’s Minister for Trade and Industry, and Even Tronstad Sagebakken, State Secretary for Fisheries and Ocean Policy. The leaders deliberated on strengthening cooperation in green technology, rare earth processing, maritime and shipping industries, particularly within the framework of the India-EFTA and TEPA agreements.
Myrseth conveyed that her team is looking forward to Prime Minister Modi’s visit later this year. Sagebakken, meanwhile, underscored India’s growing importance in Norway’s maritime sector.
Emphasising the importance of timely implementation, Sitharaman said that effective operationalisation of TEPA would generate mutual benefits for both countries. She reiterated India’s commitment to fostering a business-friendly environment.
During her visit, the Finance Minister also participated in a roundtable interaction with more than 35 prominent Norwegian CEOs and investors. She described the discussions as positive and engaging, highlighting India’s position as the fastest-growing major economy and an attractive investment destination.
Against the backdrop of India’s expanding trade architecture — including agreements with EFTA, the European Union, the United Kingdom and the United States — Sitharaman noted that India offers a durable framework for trade, industrial collaboration and long-term investments. She added that the Union Budget 2026-27 reinforces the government’s reform agenda aimed at easing regulatory and compliance burdens for businesses and citizens alike.