Finance Minister meets PM Jonas Gahr Støre, flags EFTA-TEP A rollout and reform momentum: Norway looks ahead to PM Modi’s visit later this year
India and Norway signalled a decisive push towards deepening high-technology and green-sector cooperation as Union Finance Minister Nirmala Sitharaman called on Norwegian Prime Minister Jonas Gahr Støre during her official visit to Oslo.
Rather than a routine diplomatic engagement, the meeting placed strategic economic themes at the center—from semiconductors and advanced manufacturing to carbon capture, renewable energy, and the broader maritime ecosystem, including shipbuilding and ship repair.
The two leaders reviewed the operationalisation of the EFTA and Trade and Economic Partnership Agreement (TEPA), seen as a key framework to unlock investments and industrial partnerships between India and the four EFTA nations, including Norway.
The Norwegian Prime Minister conveyed that Oslo is looking forward to Prime Minister Narendra Modi’s visit later this year, expressing confidence that it would provide fresh momentum to bilateral ties and expand cooperation across emerging sectors.
Sitharaman’s outreach in Norway extended beyond government corridors. In a separate engagement, she addressed a high-level roundtable of more than 35 Norwegian CEOs and senior investors, pitching India as the fastest-growing major economy and a stable long-term investment destination.
The session, attended by the CEO of the National Investment and Infrastructure Fund (NIIF) and the President of the Confederation of Indian Industry (CII), focused on concrete collaboration opportunities in renewables, rare earths, advanced engineering, financial services, and climate-linked technologies.
Highlighting India’s expanding trade architecture—spanning EFTA, the European Union, the United Kingdom, and the United States—Sitharaman stressed that the country now offers a durable policy framework anchored in macroeconomic stability and regulatory reforms. She pointed to the Union Budget 2026–27 as reinforcing efforts to ease compliance burdens and improve the ease of doing business.
Business leaders participating in the roundtable acknowledged India’s predictable policy environment and reform trajectory, reflecting growing investor confidence in scaling India–Norway economic engagement.
Sitharaman’s Norway leg is part of a broader visit aimed at strengthening financial and strategic cooperation through meetings with senior leadership, investors, and members of the Indian diaspora.
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