Mr. Hans Jacob Frydenlund - Ambassador
India and Norway enjoy a strong, longstanding relationship in business. Promoting Norwegian businesses and business cooperation is one of the overriding objectives of Norway’s engagement in India. In 2019, an agreement to establish an Indo-Norwegian Dialogue on Trade and Investments was signed between our two countries.
Norwegian investment interests in India are increasing, in particular in ocean related areas such as maritime industry, shipping, the marine sector, as well as oil and gas. Other areas of interest are clean energy, environment and ICT. As of 2019, more than 100 Norwegian companies have established themselves in India. Another 50 are represented by agents. The Norwegian Pension Fund Global is likely one of India’s largest single foreign investors. In 2019, its investments amounted to USD 9.5 billion. The volume is expected to increase.
The Norwegian Business Association (India) (NBAI) was established in 2013. It aims to promote bilateral relationships and promote business in general between India and Norway. Along with the Norway India Chamber of Commerce and Industry (NICCI), the Norwegian Embassy in New Delhi and Innovation Norway, it is part of “Team Norway”, which aims to develop business ties between Norway and India.
My best wishes to all members of the NBAI and the Norwegian-Indian business community in general for a longstanding and mutually beneficial relationship.