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Sitharaman Wraps Oslo Investment Push as India and Norway Target TEPA Rollout

Norwegian leaders signaled that Prime Minister Modi’s expected visit later this year could accelerate TEPA-driven cooperation.

Overview

  • Finance Minister Nirmala Sitharaman met Prime Minister Jonas Gahr Støre and Finance Minister Jens Stoltenberg, who praised India’s reform momentum and outlined collaboration in fisheries, health tech, maritime and space.
  • Talks emphasized effective operationalisation of the IndiaEFTA Trade and Economic Partnership Agreement, identifying priorities including high‑tech manufacturing, carbon capture and storage, semiconductors, renewable energy and waste management.
  • Sitharaman led a roundtable with more than 35 Norwegian CEOs and investors, pitching long‑term capital via the National Investment and Infrastructure Fund and GIFT City’s International Financial Services Centre.
  • At Oslo Science Park, she promoted the ₹10,000‑crore, five‑year Biopharma SHAKTI programme and discussed Semiconductor Mission 2.0 with startup and industry leaders.
  • Norwegian officials noted anticipation for Modi’s visit later in the year, while both sides highlighted opportunities in green tech, rare‑earth processing, maritime industries and fisheries under the TEPA framework.