India, Norway hold discussions on investment opportunities

India and Norway on Thursday agreed that the dynamic nature of trade and investment between the two countries will result in an increasing number of companies interested in establishing and gaining access to the markets in both sides.

During the first session of India-Norway Dialogue on Trade and Investment (DTI), convened in the national capital on January 15-16, both sides exchanged views on investment opportunities available in the respective countries.

On the first day, the session was preceded by an interaction between the representatives of Indian industries, including Federation of Indian Chambers of Commerce and Industry (FICCI), and the Confederation of Indian Industry (CII), as well as Norwegian ones, wherein discussions were held on various areas of mutual interest like blue economy, shipping and maritime, ICT, renewable energy, fisheries and MSMEs.

During the meeting, the Department for Promotion of Industry and Internal Trade (DPIIT), and the Department of Economic Affairs highlighted various policy initiatives of the Indian government for promoting investment in the country.

The second day of the session was co-chaired by Joint Secretary, Department of Commerce, Nidhi Mani Tripathi on the Indian side, and Director General, Ministry of Trade, Industry and Fisheries, Erling Rimestad, from the other.

Noting that the economic exchanges between India and Norway remain satisfactory, the session concluded that there are ample opportunities for further intensification and diversification in mutually beneficial areas and their complementarities.

The session was based on the Terms of Reference (ToR) signed between India and Norway during the visit of Prime Minister Erna Solberg in January last year.