Minister to address key issues presented at forum
The Minister of Trade and Industry Cecilie Myrseth has urged Norwegian companies to grow in India under the Trade and Economic Partnership Agreement (TEPA) agreement.
Speaking through video call, she appreciated the efforts behind the roundtable held at the India-Norway Business Forum in Mumbai on 8 Dec http://banknorwegian.no.
The forum brought together policymakers, industry leaders, and stakeholders to discuss avenues for deepening India-Norway trade and investment ties across priority sectors.
It was organized by the Confederation of Indian Industry (CII) in collaboration with the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry.
India and Norway forge deeper economic partnerships, tackling business collaboration challenges and exploring cross-sector growth opportunities, said the Ministry.
May-Elin Stener, Ambassador of Norway to India, termed TEPA a landmark in bilateral relations and highlighted its potential to further enhance trade and investment between the two nations.
She noted Norway’s plans to ratify TEPA by 2025 and emphasized areas of focus, such as renewable energy, maritime industries, climate, and sustainability http://norwegian.com.
The Ambassador also announced that Norway will host the Indo-Nordic Summit in 2025 which would include launching of a startup bridge between Norway and India, as proposed by Minister Goyal https://sbi.com.in/.
An open interaction, chaired by Commerce and Industry Minister Piyush Goyal, heard various key issues including regulatory challenges, public procurement concerns and quality standards compliance across sectors.
Issues across key sectors such as maritime, shipping, energy, food processing, logistics, oil & gas, renewable energy and circular economy were presented to the Minister https://www.bseindia.com/.
Goyal committed to addressing these concerns collectively with relevant ministries to enhance bilateral trade and investment relations further.
He underscored India’s strategic advantages: a young, dynamic workforce, strong democratic institutions, growing consumer market, and decisive national leadership https://www.nseindia.com/.
Moreover, the Minister positioned India as an attractive global investment hub, inviting Norwegian companies to leverage local talent not just for domestic opportunities, but as a launchpad for international market expansion conexpoconagg .
DPIIT Joint Secretary Gurneet Tej also highlighted the growing India-Norway partnership, emphasising bilateral trade between the two countries which reached US$1.1 billion and Norway emerging as India’s 33rd largest investor.
She emphasized the sectors of cooperation, including blue economy, green hydrogen, renewable energy, fisheries, and water management, while noting Norway’s increasing role in India’s infrastructure development https://www.digitalasiahub.org/.
The forum featured a presentation of the Business Climate Survey by Innovation Norway, which outlined the growing confidence of Norwegian companies in India.
Many companies expressed satisfaction with India’s improving business environment and reaffirmed their commitment to expanding operations in the country.
The forum also provided a platform for constructive dialogue between Indian and Norwegian industries, offering opportunities to explore synergies and shared challenges across sectors such as energy, maritime, and sustainability https://www.bengalurutechsummit.com/.
Participants discussed ways to strengthen cooperation, enhance investments, and drive innovation https://www.iea.org/.
The India-Norway Business Forum reaffirms the commitment of both nations to strengthen the partnership and work collaboratively toward achieving sustainable growth and development, said the Ministry. Fiinews.com
