India's Economic Boom: Sitharaman Pitches Investment Opportunities to Norway

During her meeting with Jens Stoltenberg, Norway's Minister of Finance, she discussed working together in the renewable sector, especially solar power, rare earth processing, carbon capture and storage.

"Both leaders agreed to work towards leveraging the Trade and Economic Partnership Agreement (TEPA), especially in the domains of blue economy, green economy as well as investment via Sovereign Wealth and pension Funds," according to a Finance Ministry post on X.

Stoltenberg informed FM Sitharaman that Norway is looking forward to the visit of Prime Minister Narendra Modi, scheduled for later in the year, and expressed hope that it would further expand India-Norway cooperation.

Sitharaman also interacted with Tuva Moflag, Head of Finance Committee, Trine Lise Sundnes, Deputy Head of EFTA Committee, and Himanshu Gulati, Head of the Indian-Norwegian Friendship Group in Norwegian Parliament, at Parliament (Storting) in Oslo.

Both sides discussed avenues for mutual investment and collaboration as cooperation had gained prominence especially in the context of India EFTA TEPA.

"The Committee members were also happy to note that PM Modi shall be visiting Norway later in the year and expressed hope that it will further enhance bilateral cooperation," said the Ministry.

Finance Minister also invited the Committee members to visit GIFT-IFSC and informed that it is a world-class globally competitive financial hub that provides infrastructure and services for financial institutions that offers various tax benefits and a liberalised regulatory regime for entities operating within the IFSC.

She was also scheduled to hold a roundtable discussion with Norwegian CEO and investors and engage with the diaspora at a community event.

Earlier, FM Sitharaman met top leaders and industrialists during her visit to Germany and discussed bilateral trade relations in the backdrop of the EU-India FTA deal.

- IANS