This article covers trade and investment between India and Norway: trade in goods and services, the main goods traded, the India-EFTA Trade and Economic Partnership Agreement, investment flows, companies active in each country, shipbuilding and the ministerial visits linked to trade. It is based on the MEA bilateral brief of March 2026, and the figures are as of that date.
Trade in goods and services
According to the MEA brief of March 2026, bilateral trade between India and Norway was US $ 1.05 billion in 2024-25. India exported goods worth US$ 630 million and imported goods worth US$ 420 million. The brief states that trade in services has been around USD 1 billion.
The brief records growth in economic and commercial relations in recent years, especially in oil and gas, shipping and maritime industries, renewable energy, offshore projects and service sectors.
Main items traded
The main exports from India to Norway include:
- articles of apparels and accessories
- textile yarns and fabrics
- organic chemicals
- manufactures of metals
- medicinal and pharmaceutical products
- electrical machinery and apparatus
Imports from Norway to India include non-ferrous metals, metalliferous ores and metal scrap, plastic in primary form, organic chemicals, and chemical material and products.
Trade and Economic Partnership Agreement
India and the European Free Trade Association (EFTA), which includes Norway, Switzerland, Iceland and Liechtenstein, signed a Trade and Economic Partnership Agreement (TEPA) in New Delhi on 10 March 2024. TEPA entered into force in October 2025.
Mr. Tomas Norvoll, State Secretary in Norway's Ministry of Industry and Trade, visited India in February 2025 for the opening of an EFTA desk in India. In April 2023, a Parliamentary delegation from EFTA countries visited India, led by Ms. Trine Lise Sundnes, Chair of the EFTA Parliamentary Committee and Head of the Norwegian Parliamentary delegation.
Investment
The Government Pension Fund Global (GPFG) of Norway has invested close to US$ 28 billion in the Indian capital market (till December 2025). FDI inflows from Norway during April 2000 to September 2025 were US$ 764 million.
The brief also states that the Norwegian Climate Investment Fund has invested in India.
Companies in each country
Over 160 Norwegian companies are present in India, according to the brief. They are active in sectors such as food processing, ship building, petroleum related services, marine and sub-sea drilling equipment, hydropower, renewable energy and IT services. Several Norwegian shipowners have offices in India.
Indian IT majors such as TCS, Infosys, HCL, L&T Infotech, Wipro and Tech Mahindra are present in Norway. The brief adds that there are several entrepreneurs among the Indian diaspora who are gradually establishing themselves in Norway.
Shipbuilding
The brief states that some of the large Norwegian vessels have been built in India, mostly in Cochin Shipyard. In November 2025, Swan Defence and Heavy Industries Limited (SDHI) signed a Letter of Intent with the Norway-based ship owner Rederiet Stenersen AS for the construction of six IMO Type II chemical tankers of 18,000 DWT each.
The deal is valued at approximately USD 220 million and includes an option for six additional vessels. The brief describes it as a significant milestone for India's shipbuilding exports.
Trade and industry visits
The brief records these visits by trade and economic ministers:
- H.E. Mr. Jan Christian Vestre, Minister of Trade and Industry of Norway, visited India in February 2023, April 2023, December 2023 and March 2024.
- Shri Piyush Goyal, Minister of Commerce and Industry, visited Norway from 29-30 April 2025.
- Shri Hardeep Singh Puri, Minister of Petroleum and Natural Gas, visited Norway from 7-8 July 2025.
- Shri Manjinder Singh Sirsa, Minister of Environment and Industries, Government of Delhi, visited Norway from 03-04 August 2025.