Finance Minister Nirmala Sitharaman highlighted India’s economic growth potential during her official visit to Norway. She discussed collaboration with Norway’s Finance Minister Jens Stoltenberg in areas like solar power, rare earth processing, and carbon capture and storage. Both leaders aim to enhance cooperation under the Trade and Economic Partnership Agreement (TEPA), focusing on blue and green economies, along with investments through Sovereign Wealth and pension Funds.
Stoltenberg welcomed the upcoming visit of Prime Minister Narendra Modi to Norway later this year, expressing optimism for further strengthening India-Norway ties. Sitharaman engaged with key Norwegian officials at the Parliament in Oslo, exploring avenues for mutual investments and cooperation, particularly within the India EFTA TEPA framework. The officials also anticipated PM Modi’s visit to Norway as a significant step towards bolstering bilateral relations.
During her visit, Sitharaman extended an invitation to the Committee members to explore the GIFT-IFSC, a premier financial hub offering tax benefits and a conducive regulatory environment for financial entities. She also planned to convene a roundtable discussion with Norwegian CEOs and investors, in addition to engaging with the diaspora at a community event. Earlier, she held discussions on bilateral trade relations with top leaders and industrialists in Germany, focusing on the EU-India FTA deal.
