India, Norway Review Trade & Investment Ties Under EFTA TEPA Framework

New Delhi, Apr 18 (KNN) India and Norway reviewed global and domestic economic developments during the 3rd Session of the India–Norway Dialogue on Trade and Investment (DTI) held in New Delhi on Friday.

The two countries underscored the importance of resilient supply chains, energy security, climate transition, and stronger trade and investment links amid ongoing geopolitical uncertainties.

The review meeting was co-chaired by India’s Joint Secretary (Commerce) Mohit Yadav and Norway’s Director General of Trade Policy Nina Christine Rør. 

Both sides highlighted the importance of the India–EFTA Trade and Economic Partnership Agreement (TEPA), which came into force on 1 October 2025, in strengthening bilateral economic ties, and agreed to intensify efforts to diversify trade and promote mutually beneficial business cooperation.

Impact of India–EFTA TEPA

They also noted that duty-free access under TEPA for several agricultural and allied products in Norway creates new opportunities for women entrepreneurs, MSMEs, farmers, fishermen and innovation-driven enterprises. Products such as rice, vegetables, nuts, honey, marine products and floriculture are expected to benefit from improved market access.

The agreement was also described as a framework for expanding trade, investment, technology collaboration and capacity building. It includes a shared objective by EFTA countries to mobilise USD 100 billion in investment into India over 15 years and generate 1 million direct jobs. 

India also highlighted the establishment of an EFTA Desk under Invest India to support investors.

Implementation and Regulatory Issues

The dialogue also reviewed early implementation issues under TEPA, including tariff reductions and challenges related to sanitary and phytosanitary measures, product registration, certification requirements, regulatory compliance costs, and rules of origin. 

Both sides discussed the need for mutually agreed mechanisms to address these concerns.

Sectoral Cooperation Identified

Key areas of cooperation discussed included energy, skill development, maritime activities, pharmaceuticals, biotechnology, tourism and MSMEs. Focus areas included renewable energy, green hydrogen, offshore technologies, low-carbon solutions, digitalisation of ports, sustainable shipping, and expanded collaboration in education and healthcare.

Investment and Business Engagement

Norway said it is actively promoting TEPA-related opportunities among its businesses, with rising investment interest through institutions such as the Government Pension Fund Global and Norfund, particularly in renewable energy projects. Both sides also agreed to strengthen high-level visits, industry exchanges and business delegations, and hold regular quarterly consultations to address trade issues.

Trade and Investment Trends

Bilateral trade between the two countries has shown steady growth. India’s exports to Norway increased from USD 270 million in 2014 to USD 439 million in 2025. Services exports also reached USD 876 million in 2024, reflecting the rising importance of the services sector in the partnership.

(KNN Bureau)