Brief Overview

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India's economic and commercial ties with Norway are on the upswing. There has been a spurt in trade, investments, transfer-of-technology and other contacts.The current growth in Indo-Norwegian eco-commercial ties is fuelled by complementarities of interests, in sectors such as deep off-shore, shipping, hydro-electricity, Information Technology, Bio-Technology and light consumer goods.

Embassy of India in Oslo, together with our Honorary Consuls General in Bergen and Trondheim give high priority to promotion of bilateral economic and commercial contacts. All possible help is rendered in facilitating these possibilities.

Trade

Exports from Norway to India include electronic goods, general industrial machinery, scientific control equipment, artificial resins, plastic materials, non-ferrous metals, while the main items of export from India to Norway include transport equipment, apparels, cotton yarn and fabrics, miscellaneous manufactured articles, metals, non-metal mineral items, paper products, cashew, furniture, travel goods, leather items, coffee, tea, spices and footwear. There has been a substantial growth in economic and commercial relations between India and Norway in recent years especially in areas such as oil and gas, shipping and maritime industries, renewable energy, offshore projects and service sectors. This has given a major fillip to bilateral trade with the total trade between India and Norway as per Norwegian figures reaching USD 932 million in 2012 as compared with USD 167.78 million in 2003.

Trade Figures

India Norway Bilateral Trade Figures
(all values in NOK million)

Year
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Norway's imports from
India
870.8 833.9 949.0 1188.7 1372.3 1496.7 1696.5 1965.9 2117.0 2224.4 2984.2 3356.7 2802.0
Norway's exports
to India
434.3 528.8 491.2 867.1 1291.0 2147.2 3394.3 3089.1 3466.8 2548.7 2475.7 2075.9 1556.3
Total Trade 1305.1 1362.7 1440.2 2055.7 2663.2 3643.9 5090.8 5055.0 5583.8 4773.1 5459.9 5432.6 4358.3
% change 4.4 5.7 42.7 29.6 36.8 39.7 -0.7 10.5 -14.5 14.4 -0.5 -20



Source: Statistice Norway
January 2014

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