India-EFTA agreement will open new opportunities for Norwegian investors, enhance cooperation in green energy and manufacturing
- IBEF
- October 19, 2026
India’s strong economic growth and the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) are creating investment opportunities for Norwegian companies across manufacturing, renewable energy, infrastructure, financial services and the digital economy. According to an EY India report, India’s GDP growth is projected to average around 6.5% until 2030, with the country expected to become the world’s third-largest economy by the end of the decade. Strong domestic demand, rising investment, infrastructure development and reforms to improve the ease of doing business are among the key drivers supporting this growth.
The agreement includes a commitment to invest Rs. 9.51 lakh crore (US$ 100 billion) over 15 years and is expected to generate one million direct jobs in India. It aims to promote trade liberalisation, facilitate investment flows and strengthen cooperation in innovation, sustainability and advanced technologies. Key areas for India-Norway cooperation include manufacturing, renewable energy, oil and gas, maritime services, seafood processing, information and communications technology (ICT), fintech and financial services. Norway’s technical expertise and capabilities in sustainability-focused and capital-intensive industries could complement India’s expanding market and manufacturing ambitions. India’s growing digital economy and digital payment systems also offer opportunities for Norwegian companies seeking access to its large consumer market.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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