You are here: Home » News-IANS » Diplomacy
Business Standard

Nordic countries looking for FTA with India: Envoys


IANS  |  Kolkata 

Nordic countries Denmark, Finland, Iceland, Norway and Sweden are looking for free trade agreements (FTAs) with India to improve trade relations, their envoys said here on Tuesday.

"There is a lot of wish to attract foreign investment in India. But India has not opened up its economy to the world. We are pushing for a free trade agreement with India," Denmark's Ambassador to India Peter Taksoe Jensen said here.

According to him, the trade volume (trade of goods only) between India and the Nordic countries stood at $3 billion, which should be much more if trade in services is included.

They said all these countries have good relations with India.

"We can do much more trade and, in order to get more trade, we need to finish our free trade negotiations. The businesses want to have a regime that is transparent and rule-based. The best way to do that is through free trade agreement," Iceland's Ambassador to India Thorir Ibsen said.

"Lack of the trade agreement is a stumbling block to the growth of our trade," he said on the sidelines of an interactive session organised by the Indian Chamber of Commerce.

Criticising the Narendra Modi government's move to increase customs tariff on some imported items required for manufacturing of mobile phones and 4G and 5G technology in India, Finland's Ambassador Nina Irmeli Vaskunlahti said hike on customs duty is making manufacturing expensive in India.

"India is asking foreign companies to come and make in India. Many companies are willing to do so. But their intentions are being blocked by protectionist measures of the Indian government," she added.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, February 27 2018. 18:48 IST