New Delhi: Finance Minister Nirmala Sitharaman, during her official visit to Norway, assured Norwegian leaders that India’s booming economy presents vast opportunities for investment and business expansion. In a key meeting with her counterpart Jens Stoltenberg, discussions centered on collaborative ventures in renewable energy, particularly solar power, rare earth processing, and carbon capture and storage technologies.
According to a statement from the Finance Ministry, both leaders agreed to leverage the Trade and Economic Partnership Agreement (TEPA) to deepen ties in the blue economy, green economy, and through sovereign wealth and pension funds. This partnership aims to unlock new investment avenues and foster sustainable growth.
Stoltenberg expressed eagerness for Prime Minister Narendra Modi’s upcoming visit to Norway later this year, anticipating it will further strengthen India-Norway relations. Sitharaman also engaged with prominent figures at the Norwegian Parliament (Storting), including Finance Committee Chair Tove Moflag, EFTA Committee Deputy Chair Trine Lise Sundnes, and India-Norway Friendship Group Chair Himanshu Gulati.
The parliamentarians welcomed news of PM Modi’s visit and voiced optimism for enhanced bilateral cooperation. Sitharaman extended invitations for them to visit GIFT-IFSC, highlighting it as a world-class financial hub offering competitive infrastructure, regulatory ease, tax benefits, and services for global financial institutions.
Her itinerary included a roundtable with Norwegian CEOs and investors, alongside a community event connecting with the Indian diaspora in Oslo. This follows her recent engagements in Germany, where she discussed bilateral trade ahead of a potential EU-India free trade agreement with top leaders and industry heads.
These diplomatic efforts underscore India’s strategic push to attract foreign investment amid its robust economic trajectory, positioning the country as a prime destination for global players in emerging sectors.