President Pranab Mukherjee today hoped for an early conclusion of talks between India and EFTA on free trade agreement, which will facilitate further promotion of economic ties with Norway and other member states.
"I hope for an early conclusion of the on-going negotiations for a Trade and Investment Agreement between India and the EFTA, of which Norway is one of the four member nations," the President said in his speech at a seminar on business, science and technology here.
European Free Trade Association (EFTA) is an inter-governmental organisation set up for the promotion of free trade and economic integration for the benefit of its four-member states -- Iceland, Liechtenstein, Norway, Switzerland.
Also Read
Mukherjee also expressed hope for further investment from Norway's Government Pension Fund-Global in view of India's "tremendous" growth potential.
"I would like to make a special mention of the Government Pension Fund-Global of Norway, which is the largest sovereign wealth fund in the world with assets close to USD 900 billion. Investments of the Fund in equity and fixed income assets in India are only about USD 4 billion.
"Given India's tremendous growth potential, I am hopeful that the Fund will considerably increase its investment exposure to our economy," he said.
The President also asked the Norwegian trading community to take optimum advantage of 'Make in India' programme, aimed at ensuring investor-friendly environment for businessmen in the country.
Mukherjee said that his government was committed to a business-friendly environment which is impediment free, predictable, facilitatory and transparent.
"To that end, India has embarked on an ambitious 'Make in India' programme to make the country an investor-friendly destination by setting up single window clearances, e-Business portals and Investor Facilitation Cells. I am confident that Norwegian investors shall take optimum advantage of the new policies unveiled," the President said in his speech.
