India, Norway Deepen Economic Engagement at Third Trade and Investment Dialogue

India and Norway have reaffirmed their commitment to expanding bilateral economic ties during the third session of the India–Norway Dialogue on Trade and Investment, held in New Delhi on April 16, 2026. The meeting marked the first such dialogue since the India–EFTA Trade and Economic Partnership Agreement, or TEPA, came into force on October 1, 2025, with both sides highlighting the pact as a key driver of stronger commercial cooperation. The session was co-chaired by Mohit Yadav, Joint Secretary in India’s Department of Commerce, and Nina Christine Rør, Director General in Norway’s Ministry of Trade, Industry and Fisheries.

During the dialogue, India and Norway reviewed the global and domestic economic environment, stressing the growing importance of resilient supply chains, energy security, climate transition, and stronger trade and investment partnerships amid geopolitical uncertainty. Both countries agreed to step up efforts to diversify trade and encourage more business-led collaboration. Bilateral trade has shown steady growth over the years, with India’s exports to Norway rising from US$ 270 million in 2014 to US$ 439 million in 2025. India’s services exports to Norway were valued at US$ 876 million in 2024, underlining the increasing importance of the services sector in the relationship.

A major focus of the talks was the implementation of TEPA and the early opportunities it is creating. India noted that the agreement gives duty-free access in Norway for a range of agricultural and allied products, opening new possibilities for women entrepreneurs, MSMEs, farmers, fishermen, and innovation-driven businesses. These opportunities extend across products such as rice, vegetables, nuts, fruit preparations, honey, marine goods, and floriculture. The two sides also reviewed challenges linked to TEPA implementation, including tariff benefits, sanitary and phytosanitary rules, certification requirements, regulatory compliance, and origin-related procedures.

The dialogue also explored cooperation across a wide set of sectors, including energy, offshore technologies, renewable energy, green hydrogen, maritime affairs, pharmaceuticals, biotechnology, tourism, skill development, and MSMEs. Norway said it is actively promoting TEPA and India-linked investment opportunities to its business community, including through major investment institutions such as the Government Pension Fund Global and Norfund. Both countries agreed to intensify high-level visits, industry exchanges, and business missions. They also welcomed the planned commemoration of TEPA’s first anniversary at Prosperity Summit 2026 on October 1, 2026, and decided to maintain regular quarterly consultations, with the next Dialogue on Trade and Investment to be held in Norway in 2028.

Reference: PIB