Talks in Oslo focus on renewable energy, sovereign wealth investments and deeper India-EFTA cooperation; FM invites Norway to tap GIFT-IFSC
Union Finance Minister Nirmala Sitharaman on Tuesday met Norway’s Finance Minister Jens Stoltenberg in Oslo, with both sides agreeing to leverage the India–EFTA Trade and Economic Partnership Agreement (TEPA) to boost cooperation in the blue economy, green energy, and long-term investments.
According to a statement from the Ministry of Finance, the two leaders discussed expanding bilateral economic engagement, particularly in renewable energy, including solar power, maritime sectors, and climate-focused investments. Stoltenberg noted that India’s strong economic growth presents “lots of opportunities to invest and grow,” signalling Norway’s interest in scaling up its financial engagement with Asia’s third-largest economy.
The meeting highlighted the growing importance of the India–EFTA TEPA framework in catalysing trade flows, technology partnerships, and sovereign investments. Both sides explored avenues for channeling funds through Norway’s sovereign wealth and pension funds into sustainable infrastructure and green transition projects in India.
Sitharaman also invited Norwegian stakeholders to explore opportunities at Gujarat International Finance Tec-City (GIFT-IFSC), describing it as a world-class financial hub offering tax incentives and a liberalised regulatory regime for global financial institutions.
The discussions come ahead of Prime Minister Narendra Modi’s upcoming visit to Norway, which parliamentary members said would further deepen strategic and economic ties between the two countries.
Sitharaman is on a two-day official visit to Norway aimed at strengthening financial and investment cooperation under the broader India–EFTA engagement framework.
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