New Delhi/Oslo, February 18 Finance Minister Nirmala Sitharaman highlighted India's expanding trade architecture on Wednesday, stating that the country provides a stable framework for trade, industrial collaboration, and long-term investments.
In a roundtable meeting with prominent Norwegian CEOs and investors in Oslo, Sitharaman said that her official visit to Norway has witnessed engaging and positive discussions on India as an investment destination and the fastest-growing major economy in the world.
"In light of India's expanding trade architecture, including agreements with the European Free Trade Association (EFTA), the EU, the UK, and the US, the Union Finance Minister highlighted the conditions in India that provide a stable framework for trade, industrial collaboration, and long-term investments," the Union Finance Ministry said in a post on X.
She also stated that the Union Budget for 2026-27 further underscores the government of India's focus on easing regulatory and compliance burdens for citizens and companies.
The participants appreciated the predictable policy and macroeconomic environment in India and acknowledged the reform efforts and momentum by the government, the Ministry said.
The CEO of the National Investment and Infrastructure Fund (NIIF) presented on India's growth and reform story and the potential and scope of investment opportunities between the two countries across key sectors.
The roundtable covered deliberations around existing and potential opportunities for business and investment cooperation across key sectors, including renewables, carbon capture, rare earths, and financial services.
Separately, Sitharaman met with Norway Prime Minister Jonas Gahr Store, who said that the country is looking forward to Prime Minister Narendra Modi's visit later in the year and conveyed his confidence that it would further expand India-Norway cooperation.
Store appreciated India's reform momentum and said that Norway and India can collaborate in the sectors of fisheries, health tech, maritime, and space.
The two leaders discussed the operationalisation of EFTA and TEPA and outlined key areas of collaboration between the two countries, including in areas related to high-tech manufacturing, carbon capture storage, start-ups, semiconductors, renewable energy, and waste management, among others.
The India-EFTA Trade and Economic Partnership Agreement (TEPA) came into effect on October 1, 2025, while India and the UK signed the Comprehensive Economic and Trade Agreement (CETA) in July 2025.
In January this year, India and the EU concluded negotiations for a historic free trade agreement (FTA). Earlier this month, India and the US agreed to an interim trade deal.
Sitharaman also met with Norway's Minister for Trade & Industry, Cecilie Mysreth, and Even Tronstad Sagebakken, State Secretary, Fisheries and Ocean Policy, in Oslo.
The leaders discussed ways of forging deeper cooperation and exploring mutual opportunities in the areas of green tech, rare earth processing, maritime and shipping industries, and fisheries, among others, especially in the context of the India-EFTA TEPA deal.
Sitharaman said that the effective operationalisation of TEPA will foster mutual benefits for both sides, and she looked forward to its timely implementation, the Finance Ministry said.
