Sunil Barthwal, Secretary of the Department of Commerce in the Ministry of Commerce and Industry, led a high-level delegation to Norway on November 22, 2024. The visit aimed to advance the Trade and Economic Partnership Agreement (TEPA), strengthen India's trade and investment relations with the European Free Trade Association (EFTA), and push for the early implementation of a $100 billion investment. Signed in March 2024, TEPA promises transformative economic opportunities for both regions.
TEPA, a modern trade pact, offers India access to 92.2% of EFTA’s tariff lines, covering 99.6% of Indian exports, including non-agricultural and processed agricultural products. India reciprocates by offering access to 82.7% of its tariff lines, ensuring balanced trade dynamics. The agreement is set to boost India's Make in India and Atmanirbhar Bharat initiatives, stimulating manufacturing in sectors such as pharmaceuticals, machinery, food processing, and renewable energy.
The services sector stands to benefit significantly, with TEPA facilitating enhanced digital delivery, commercial presence, and smoother mobility for Indian professionals. Key sectors, including IT, education, audiovisual services, and cultural industries, are poised for growth.
During the visit, Barthwal met key Norwegian officials, including Tomas Norvoll, State Secretary of the Ministry of Trade, Industry and Fisheries, to discuss trade, investment, and mobility for Indian professionals. He also engaged with H.E. Ms. Cecilie Myrseth, Minister of Trade and Industry, and H.E. Jan Christian Vestre, Minister of Health and Care Services. In a meeting at the Norwegian Parliament with Trine Lise Sundnes, Chair of the EFTA and EEA Parliamentary Committees, and Nicolai Astrup, MP, Barthwal emphasized the importance of ratifying TEPA for accelerating mutual economic benefits.
Barthwal’s visit also explored technology collaborations, with TEPA paving the way for access to precision engineering, renewable energy solutions, and advanced R&D. The agreement is projected to create substantial employment opportunities in India over the next 15 years, alongside improved vocational training facilities for young professionals.
Engaging with Norwegian business leaders from renewable energy, shipping, green hydrogen, and IT sectors, Barthwal highlighted India’s rising economic prominence. He projected India’s transformation into the world’s third-largest economy within 3–4 years, offering unprecedented
