India-EFTA trade agreement blueprint for shared progress, says PM in Norway
This story was originally published at 19:10 IST on 18 May 2026
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NEW DELHI – The trade and economic partnership agreement between India and the European Free Trade Association is a blueprint for shared progress and prosperity for India and Norway, Prime Minister Narendra Modi said in Oslo Monday. He said India and Norway are turning their ties into a "Green Strategic Partnership".
Under the India-EFTA Trade and Economic Partnership Agreement, which came into effect in October, the EFTA countries--Iceland, Liechtenstein, Norway, and Switzerland--offer tariff exemptions on 99.6% of Indian exports.
"Today we took several decisions to turn the agreement promises into outcomes," Modi said at a joint press briefing with his Norwegian counterpart, Jonas Gahr Stre. He said the agreement aims at investment of $100 billion in India and creation of one million jobs over the next 15 years.
He said that at a time when two major conflicts in Ukraine and West Asia are unfolding and the world is facing uncertainties, India and Europe are entering a "new, golden era" of their relations. He reiterated that India welcomes any effort to restore peace and normalcy through diplomacy.
Modi also thanked Norway for "firmly standing with India" after the Pahalgam terror attack in April 2025. "I was scheduled to come last year, but could not due to the Pahalgam terror attack," he said. The prime minister was scheduled to attend the India-Nordic summit in Oslo in May 2025, but the event was cancelled after rising tensions between India and Pakistan in the wake of the attack.
The summit will be held Tuesday with leaders of Sweden, Finland, Iceland, Denmark, and Norway participating with India's prime minister. End
US$1 = INR 96.34
Reported by Asim Khan
Edited by Rajeev Pai
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