The entering into force of the Trade and Economic Partnership Agreement (TEPA) between India and the EFTA countries on 1st October 2025 makes a historic milestone for the collaboration between Norway and India.
- This is a very important agreement for the business sector. India is the world’s fifth-largest economy and represents a huge market that will provide big export opportunities for Norwegian businesses. After the EEA agreement, this could become one of the most important trade agreements Norway has ever entered, said Prime Minister Jonas Gahr Støre in a press release as part of the TEPA signing in March 2024.
The agreement was signed in New Delhi on the 10th of March 2024 and entered into force on 1st October 2025. As the first in Europe, EFTA companies get exemption from customs duties on most of the goods they export to India. This makes it easier for Norwegian companies to enter the Indian market.
With the agreement, the parties confirm their commitment to implement the Paris Agreement, other ratified multilateral conventions on the environment, ILO conventions, and international conventions on gender equality.
New Business Opportunities
With the trade and economic partnership agreement comes new opportunities for Norwegian companies to do business in India. The agreement will reduce tariffs and make it simpler to deliver services and equipment to India.
Key sectors for Norway-India cooperation
Energy
India's growing demand for sustainable energy solutions creates opportunities for Norwegian companies in the energy sector. This includes hydropower, solar energy, wind power, biomass and waste-to-energy, and energy storage. Also, Norway's background in oil and gas offer technologies that can help sustainable deep-water operations.
Learn more here: India-Norway Energy Factsheet
Maritime
With a coastline of nearly 7,500 km, 13 major ports and 176 minor ports, there are significant opportunities for India-Norway maritime cooperation. Norwegian companies engaged in shipbuilding, offshore vessels, maritime equipment, and sustainable shipping solutions can offer complementary expertise to India's maritime sector.
Learn more here: India-Norway Maritime Factsheet
Investments
The EFTA countries has committed to promoting investments in India over a 15 year period. A designated contact point, the EFTA Desk, has been established in Invest India to support Norwegian businesses seeking invest in the Indian market.
Further information about doing business in India can be directed to the embassy or Innovation Norway's offices in New Delhi.
Press Releases:
Press releases in Norwegian. Norge inngår historisk handelsavtale med India - regjeringen.no
Translated into English by Norwegian Embassy in New Delhi.: Norway enters into historic trade deal with India - Norway in India
Other press releases (in Norwegian).
Norge inngår historisk handelsavtale med India - regjeringen