New Delhi, Jan 16 : India and Norway said on Thursday the dynamic nature of commercial exchange between the two countries will result in an increasing number of companies interested in establishing and gaining access to the markets of the two countries.
During the first Session of India-Norway Dialogue on Trade and Investment (DTI) convened on January 15-16, both sides exchanged views on investment opportunities available in the respective countries as also the facilitations being extended by respective Governments for creating attractive investment environments. Presentations were also made by the Delhi Mumbai Industrial Corridor Development Corporation (DMICDC) and Invest India. The session was based on the Terms of Reference (ToR) signed between India and Norway on January 8 during the visit of Prime Minister of Norway. This was the first meeting after the signing of DTI.
The first Session was preceded by an industry interaction on January 15 with the representatives from Indian industry, where discussions were held on various areas of mutual interest including blue economy, shipping & maritime, ICT, renewable energy, fisheries and MSME. Representatives from the Federation of Indian Chambers of Commerce and Industry (FICCI), Confederation of Indian Industry (CII),fisheries,ICT, renewable energy, electrical equipment, IT and solar energy sectors participated in the industry interaction.
The Department for Promotion of Industry and Internal Trade (DPIIT) and the Department of Economic Affairs highlighted various policy initiatives of the Government for promoting investment in the country. Cumulative FDI equity inflows to India from Norway during April, 2000 to September, 2019 were around USD 257 million.
While economic exchanges between India and Norway remain satisfactory, there are ample opportunities for further intensification and diversification in mutually beneficial areas and their complementarities. (UNI)