Oslo emerged as the latest venue for high-level India-Norway economic diplomacy on February 18. Finance Minister Nirmala Sitharaman engaged with her Norwegian counterparts—Cecilie Myrseth, Minister of Trade and Industry, and Even Trønstad Sagebakken, State Secretary for Fisheries and Ocean Policy—in talks aimed at accelerating bilateral ties.
India’s Finance Ministry shared details of the productive session through social media, spotlighting collaboration prospects in green technology, rare earth mineral processing, shipping, maritime operations, and aquaculture.
A major focus was the India-EFTA TEPA, with both sides committing to bolster investment flows and tech exchanges. This comes at a time when global trade dynamics are shifting, making such agreements crucial for economic resilience.
Myrseth voiced excitement over PM Modi’s anticipated Norway trip later this year, underscoring the visit’s potential to elevate relations. Sagebakken commended India’s burgeoning maritime capabilities, describing them as indispensable to Norway’s blue economy ambitions.
‘TEPA’s swift and effective rollout will be a win-win,’ Sitharaman asserted, pointing to expanded opportunities in investment, knowledge sharing, and job creation. Her vision aligns with India’s push for self-reliant growth through international partnerships.
Analysts predict this meeting will catalyze stronger trade volumes, particularly in sustainable sectors. By pooling strengths in renewables and ocean resources, India and Norway could redefine their positions in international markets, fostering long-term prosperity amid geopolitical uncertainties.