Latest news with #India-EFTATradeandEconomicPartnershipAgreement
India Gazette
17-05-2025
- Politics
- India Gazette
Jaishankar wishes people of Norway on Constitution Day, expresses commitment to advance
New Delhi [India], May 17 (ANI): External Affairs Minister S Jaishankar on Saturday extended warm wishes to his Norwegian counterpart Espen Barth Eide and the people of Norway on the occasion of their Constitution Day, reaffirming India's commitment to advancing the 'multifaceted partnership' between the two nations. In a post on X, Jaishankar stated, 'Warm felicitations to FM @EspenBarthEide, the Government and people of Norway on their Constitution Day. Committed to advancing our multifaceted partnership.' Norway's Ambassador to India, May-Elin Stener, also extended wishes to people on Norway's Constitution Day. 'Hipp Hipp Hurra Gratulerer med dagen til Norge! It's our #ConstitutionDay today! Greetings to all those celebrating around the world,' Stener posted on X. Earlier on May 9, EAM S Jaishankar held a telephonic conversation with his Norwegian counterpart Espen Barth Eide and discussed India's response to counter terrorism. In a post on X, Jaishankar said, 'Spoke with FM Espen Barth Eide of Norway. Discussed India's targeted and measured response to counter terrorism.' As many as 26 people were killed and several others were injured in a terrorist attack that took place in Jammu and Kashmir's Pahalgam on April 22. In response to the Pahalgam terrorist attack, Indian Armed Forces launched Operation Sindoor in the early hours of May 7, targeting nine terror sites in Pakistan and Pakistan-occupied Jammu and Kashmir (PoJK), leading to the death of over 100 terrorists affiliated with terror outfits like the Jaish-e-Mohammed (JeM), Lashkar-e-Taiba (LeT) and Hizbul Mujahideen (HM). Earlier in April, Union Minister of Commerce and Industry, Piyush Goyal, held a bilateral meeting with the Norwegian Minister of Foreign Affairs, Espen Barth Eide. During the meeting, they discussed the implementation of the India-EFTA Trade and Economic Partnership Agreement. 'We discussed the implementation of the India-EFTA Trade and Economic Partnership Agreement (TEPA), strengthening bilateral ties, and boosting trade and investment between our nations,' Piyush Goyal wrote on X after the meeting. The India-EFTA Trade and Economic Partnership Agreement (TEPA) was signed on March 10, 2024. EFTA comprises Switzerland, Iceland, Norway and Liechtenstein. EFTA is an intergovernmental organisation set up in 1960 for the promotion of free trade and economic integration for the benefit of its four Member States. Notably, India's economic and commercial ties with Norway are on the upswing. There has been a spurt in trade, investments, technology transfer, and other contacts, according to the Indian Embassy in Norway. The current growth in Indo-Norwegian eco-commercial ties has been fuelled by common interest in sectors like deep offshore, shipping, hydroelectricity, Information Technology, Biotechnology, and light consumer goods. Norwegian IT companies are also considering offshoring their business to India or investing in Indian start-ups. According to the Indian Embassy in Norway, knowledge and technology sharing is another important facet of the Indo-Norwegian relationship. (ANI)
Times of Oman
01-05-2025
- Business
- Times of Oman
Piyush Goyal concludes historic Norway visit, focuses on strengthening trade ties
New Delhi: Indian Union Minister of Commerce and Industry Piyush Goyal has concluded his visit to Norway, marking the first such visit by an Indian Commerce Minister in over 25 years. The visit focused on strengthening bilateral trade and economic relations, with key engagements involving Norway's political and business leadership. In a social media post shared on Thursday, Goyal said, "Concluded my productive visit to Norway, the first by a Commerce and Industry Minister from India in over 25 years. My engagements with the political and business leadership in the country give me immense confidence that our ties are set to enter a new phase of trust and growth." During his visit, Goyal met Cecilie Myrseth, Norway's Minister of Trade and Industry. The two leaders held discussions on enhancing trade relations in line with the recently signed India-EFTA Trade and Economic Partnership Agreement (TEPA). They also explored new opportunities to boost bilateral cooperation in various sectors. Goyal also had the honour of visiting the Norwegian Parliament - Stortinget - where he interacted with distinguished members. The discussions focused on enhancing India-Norway trade ties and exchanging views on shared democratic values and people-centric governance. The minister said "It was an honour to visit the Norwegian Parliament - Stortinget and interact with some of the distinguished members. Had an extensive discussion on enhancing India-Norway trade and economic ties. We also exchanged views on our strong democratic traditions and commitment to development, rooted in people-centric governance". A key highlight of the visit was the co-chairing of the Norway-India Business Executive Roundtable, alongside Minister Myrseth. The roundtable centered on expanding economic cooperation, fostering innovation-led growth, and exploring collaborations to deepen business engagement between the two nations. The Minister also interacted with the India-Norway business community at the 'Innovation Norway' centre. He spoke about India's improved Ease of Doing Business, a favourable investment climate, and the country's leadership in global talent and technology. He also highlighted the investment opportunities under TEPA and encouraged Norwegian businesses to explore the growing Indian market. In another engagement, Goyal participated in a panel discussion with leading Norwegian investors. He discussed investment prospects in India's capital markets and emphasized the potential of GIFT City as a new global financial hub. He positioned GIFT City as a gateway for global investors amid the changing economic landscape. Goyal's visit is expected to lay the foundation for deeper commercial engagement between India and Norway, opening up new avenues for trade, investment, and innovation.
Mint
01-05-2025
- Business
- Mint
Piyush Goyal concludes historic Norway visit, focuses on strengthening trade ties
New Delhi [India], May 1 (ANI): Union Minister of Commerce and Industry Piyush Goyal has concluded his visit to Norway, marking the first such visit by an Indian Commerce Minister in over 25 years. The visit focused on strengthening bilateral trade and economic relations, with key engagements involving Norway's political and business leadership. In a social media post shared on Thursday, Goyal said, "Concluded my productive visit to Norway, the first by a Commerce and Industry Minister from India in over 25 years. My engagements with the political and business leadership in the country give me immense confidence that our ties are set to enter a new phase of trust and growth." During his visit, Goyal met Cecilie Myrseth, Norway's Minister of Trade and Industry. The two leaders held discussions on enhancing trade relations in line with the recently signed India-EFTA Trade and Economic Partnership Agreement (TEPA). They also explored new opportunities to boost bilateral cooperation in various sectors. Goyal also had the honour of visiting the Norwegian Parliament - Stortinget - where he interacted with distinguished members. The discussions focused on enhancing India-Norway trade ties and exchanging views on shared democratic values and people-centric governance. The minister said "It was an honour to visit the Norwegian Parliament - Stortinget and interact with some of the distinguished members. Had an extensive discussion on enhancing India-Norway trade and economic ties. We also exchanged views on our strong democratic traditions and commitment to development, rooted in people-centric governance". A key highlight of the visit was the co-chairing of the Norway-India Business Executive Roundtable, alongside Minister Myrseth. The roundtable centered on expanding economic cooperation, fostering innovation-led growth, and exploring collaborations to deepen business engagement between the two nations. The Minister also interacted with the India-Norway business community at the 'Innovation Norway' centre. He spoke about India's improved Ease of Doing Business, a favourable investment climate, and the country's leadership in global talent and technology. He also highlighted the investment opportunities under TEPA and encouraged Norwegian businesses to explore the growing Indian market. In another engagement, Goyal participated in a panel discussion with leading Norwegian investors. He discussed investment prospects in India's capital markets and emphasized the potential of GIFT City as a new global financial hub. He positioned GIFT City as a gateway for global investors amid the changing economic landscape. Goyal's visit is expected to lay the foundation for deeper commercial engagement between India and Norway, opening up new avenues for trade, investment, and innovation. (ANI) First Published: 1 May 2025, 08:39 AM IST
The Print
01-05-2025
- Business
- The Print
Piyush Goyal concludes historic Norway visit, focuses on strengthening trade ties
The visit focused on strengthening bilateral trade and economic relations, with key engagements involving Norway's political and business leadership. New Delhi [India], May 1 (ANI): Union Minister of Commerce and Industry Piyush Goyal has concluded his visit to Norway, marking the first such visit by an Indian Commerce Minister in over 25 years. In a social media post shared on Thursday, Goyal said, 'Concluded my productive visit to Norway, the first by a Commerce and Industry Minister from India in over 25 years. My engagements with the political and business leadership in the country give me immense confidence that our ties are set to enter a new phase of trust and growth.' During his visit, Goyal met Cecilie Myrseth, Norway's Minister of Trade and Industry. The two leaders held discussions on enhancing trade relations in line with the recently signed India-EFTA Trade and Economic Partnership Agreement (TEPA). They also explored new opportunities to boost bilateral cooperation in various sectors. Goyal also had the honour of visiting the Norwegian Parliament – Stortinget – where he interacted with distinguished members. The discussions focused on enhancing India-Norway trade ties and exchanging views on shared democratic values and people-centric governance. The minister said 'It was an honour to visit the Norwegian Parliament – Stortinget and interact with some of the distinguished members. Had an extensive discussion on enhancing India-Norway trade and economic ties. We also exchanged views on our strong democratic traditions and commitment to development, rooted in people-centric governance'. A key highlight of the visit was the co-chairing of the Norway-India Business Executive Roundtable, alongside Minister Myrseth. The roundtable centered on expanding economic cooperation, fostering innovation-led growth, and exploring collaborations to deepen business engagement between the two nations. The Minister also interacted with the India-Norway business community at the 'Innovation Norway' centre. He spoke about India's improved Ease of Doing Business, a favourable investment climate, and the country's leadership in global talent and technology. He also highlighted the investment opportunities under TEPA and encouraged Norwegian businesses to explore the growing Indian market. In another engagement, Goyal participated in a panel discussion with leading Norwegian investors. He discussed investment prospects in India's capital markets and emphasized the potential of GIFT City as a new global financial hub. He positioned GIFT City as a gateway for global investors amid the changing economic landscape. Goyal's visit is expected to lay the foundation for deeper commercial engagement between India and Norway, opening up new avenues for trade, investment, and innovation. (ANI) This report is auto-generated from ANI news service. ThePrint holds no responsibility for its content.
Hans India
30-04-2025
- Business
- Hans India
Goyal holds talks in Oslo to strengthen India-Norway trade & investment ties
Oslo: Commerce and Industry Minister Piyush Goyal held separate meetings here, on Wednesday, with Norway's Minister of Foreign Affairs Espen Barth Eide and the Scandinavian country's Minister of Trade and Industry Cecilie Myrseth to discuss the implementation of the India-EFTA Trade and Economic Partnership Agreement and strengthen bilateral ties between the two countries. "In my first engagement after arriving in Oslo, held a bilateral meeting with Espen Barth Eide, the Norwegian Minister of Foreign Affairs. We discussed the implementation of the India-EFTA Trade and Economic Partnership Agreement (TEPA), strengthening bilateral ties, and boosting trade and investment between our nations," Minister Goyal posted on X. This was followed up with another bilateral meeting with his Norwegian counterpart, Cecilie Myrseth. "Delighted to meet Cecilie Myrseth, Minister of Trade and Industry, Norway. Our talks focused on deepening trade engagement in alignment with the India-EFTA Trade and Economic Partnership Agreement and on exploring new opportunities to further elevate India-Norway bilateral ties," Goyal wrote on X. The Indian minister also co-chaired the Norway India Business Executive Roundtable alongside Myrseth. "Discussions centred on expanding economic cooperation, fostering innovation-led growth, and exploring potential collaborations to further strengthen business ties between the two nations," Goyal said. He also visited the Norwegian Parliament - Stortinget and interacted with "some of the distinguished members". "Had an extensive discussion on enhancing India-Norway trade and economic ties. We also exchanged views on our strong democratic traditions and commitment to development, rooted in people-centric governance", Goyal said. Goyal is on a five-day visit to London, Oslo, and Brussels for strengthening India's trade and investment relations with the UK, Norway and the European Union. The visit to Oslo comes against the backdrop of India having signed a comprehensive free trade agreement with the four-nation European bloc EFTA in March last year. It is expected to be implemented this year. The European Free Trade Association (EFTA) comprises Iceland, Liechtenstein, Norway, and Switzerland. The two sides signed the Trade and Economic Partnership Agreement (TEPA) in March, last year. India has received a commitment of a $100 billion investment over 15 years from the grouping, while allowing products such as Swiss watches, chocolates, and cut and polished diamonds from the region to come into the country at lower or zero duties as part of the agreement. Negotiations have also picked up momentum for a trade agreement with the 27-nation European Union (EU). India and the EU are exploring the possibility of an early harvest agreement before finalising a comprehensive pact. The 11th round of negotiations between the two sides is scheduled from May 12–16 in New Delhi.
