Commerce Minister Piyush Goyal held a bilateral meeting with the Norwegian Minister of Foreign Affairs Espen Barth Eide, where they discussed the implementation of the India-EFTA Trade and Economic Partnership Agreement.
Norway's Foreign Affairs Minister, Espen Barth Eide, has welcomed the European Free Trade Association (EFTA)-India Free Trade Agreement, calling it a "very positive step" to boost trade relations between India and Norway.
Switzerland and other European Free Trade Association (EFTA) nations, including Iceland, Liechtenstein, and Norway, are set to invest USD 100 billion in India over the next 15 years, according to Martin U Maier, Consul General of Switzerland in Mumbai.
One of the major announcements was "Mission 500," an ambitious goal to double bilateral trade to $500 billion by 2030. This initiative underscores the commitment of both nations to enhancing economic cooperation and leveraging mutual strengths to drive trade growth.
He said, "It will certainly have no impact on this very important free trade treaty, TEPA, which we have concluded and which is now in the process of ratification and should then to interforce in the latter part of the year or at the latest next year."
He spoke on geopolitical challenges, tariff threats, and possible trade wars and expressed confidence in the path forward for the India-Switzerland bilateral economic partnership with the conclusion of the India-EFTA Trade and Economic Partnership Agreement (TEPA)
A dedicated desk has been launched to deepen the economic engagements between India and the European Free Trade Association (EFTA) countries -- Iceland, Liechtenstein, Norway and Switzerland.
Union Minister for Commerce and Industry Piyush Goyal, along with top dignitaries from EFTA nations, will inaugurate the EFTA Desk at Bharat Mandapam, New Delhi on Monday.
Norwegian Ambassador to India, May-Elin Stener expressed confidence in the India-Norway ties and spoke about the scope for expanding business opportunities between the two countries. She delivered the remarks on the sidelines of the premiere of the documentary 'All I Want for Christmas' in N
Sunil Barthwal, Secretary, Department of Commerce, Ministry of Commerce and Industry, led a high-level delegation to Norway on November 22 to further advance the objectives of TEPA.
"It (India-Norway ties) has huge potential. When I was the foreign minister, we issued an India strategy, which was the first ever from Norway's side and this has been followed by an agreement on FTA between EFTA and India, which offers huge potential for doing more trade and collaboration,"
As Norwegian Ambassador to India, May Elin-Stener, completes her first year in office, she reflects on her journey with a mix of nostalgia and excitement.