Indian Economy News

India and Norway hold 3rd Session of Dialogue on Trade and Investment, underscoring TEPA’s role in strengthening bilateral economic ties

India and Norway held the 3rd session of the Dialogue on Trade and Investment (DTI) in New Delhi on April 16, 2026, marking the first such engagement after the implementation of the India-EFTA Trade and Economic Partnership Agreement (TEPA) on October 1, 2025. The dialogue underscored TEPA’s role in strengthening bilateral economic cooperation and advancing a shared vision of inclusive growth. Both sides reviewed global and domestic economic trends, emphasizing the importance of resilient supply chains, energy security, climate transition and deeper trade linkages amid geopolitical uncertainties. Union Minister of Commerce and Industry Mr. Piyush Goyal highlighted that the agreement reflects a strong commitment to shared prosperity and enhanced partnership.

Bilateral trade has shown steady growth, with India’s exports to Norway increasing from Rs. 1,647.27 crore (US$ 270 million) in 2014 to Rs. 3,827.28 crore (US$ 439 million) in 2025, while services exports reached Rs. 7,332.46 crore (US$ 876 million) in 2024, indicating expanding economic engagement. The duty-free access under TEPA for agricultural and allied products is expected to boost participation from MSMEs, farmers, women entrepreneurs and innovation-led businesses in global value chains. Both countries reaffirmed their commitment to leveraging TEPA for investment, technology collaboration and capacity building, with EFTA nations aiming to promote Rs. 9.28 lakh crore (US$ 100 billion) in investments and generate 1 million direct jobs in India. Cooperation areas discussed included renewable energy, green hydrogen, maritime technologies, pharmaceuticals, tourism and digital infrastructure, reinforcing a future-oriented partnership grounded in sustainability and innovation.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.