India–Norway economic ties are shaped by the sea, clean energy, capital markets, technology and a growing commercial confidence. Bilateral goods trade stood at US$ 1.05 billion in 2024–25, with India exporting US$ 630 million and importing US$ 420 million. This means India recorded a goods trade surplus of about US$ 210 millionwith Norway during the year.
The economic relationship is not limited to merchandise trade. Services trade is around US$ 1 billion, Norwegian firms are present in India across specialised sectors, Indian IT companies operate in Norway, and Norway’s Government Pension Fund Global has invested close to US$ 28 billion in India’s capital market till December 2025.
The entry into force of the India–EFTA Trade and Economic Partnership Agreement in October 2025 adds another layer to this economic story.
In Numbers
Trade size: India–Norway bilateral goods trade stood at US$ 1.05 billion in 2024–25.
Indian exports: India exported goods worth US$ 630 million to Norway in 2024–25.
Indian imports: India imported goods worth US$ 420 million from Norway in 2024–25.
Trade balance: India had a goods trade surplus of around US$ 210 million with Norway in 2024–25.
Services trade: Bilateral trade in services has been around US$ 1 billion.
Commercial growth: Economic ties have grown in recent years, especially in oil and gas, shipping, maritime industries, renewable energy, offshore projects and services.
TEPA milestone: India and EFTA, including Norway, signed the Trade and Economic Partnership Agreement in New Delhi on 10 March 2024.
TEPA implementation: The India–EFTA TEPA entered into force in October 2025.
Norwegian corporate footprint: More than 160 Norwegian companies are present in India.
Norwegian sectors in India: Norwegian firms work in food processing, shipbuilding, petroleum services, marine and sub-sea drilling equipment, hydropower, renewable energy and IT services.
Indian IT in Norway: TCS, Infosys, HCL, L&T Infotech, Wipro and Tech Mahindra are present in Norway.
Capital market investment: Norway’s Government Pension Fund Global has invested close to US$ 28 billion in India’s capital market till December 2025.
FDI inflow: FDI inflows from Norway into India stood at US$ 764 million during April 2000 to September 2025.
Maritime workforce link: About 10% of crews in Norwegian vessels are Indian seafarers.
Shipbuilding link: Some large Norwegian vessels have been built in India, mainly at Cochin Shipyard.
Major shipbuilding order: In November 2025, SDHI signed a Letter of Intent with Norwegian shipowner Rederiet Stenersen AS for six chemical tankers.
Order value: The SDHI–Rederiet Stenersen deal is valued at approximately US$ 220 million.
Export potential: The tanker deal is significant for India’s shipbuilding exports and includes an option for six additional vessels.
Renewable presence: Several Norwegian companies have established themselves in India’s renewable energy space.
Green shipping link: Norwegian shipowners have used Cochin Shipyard to build autonomous battery-operated coastal cargo ferries.
Hydrogen carrier: A hydrogen carrier is being constructed, adding a future-energy dimension to maritime cooperation.
Climate investment: The Norwegian Climate Investment Fund has invested in India.
Future sectors: Renewable energy and CCS technology offer further room for India–Norway cooperation.
India–Norway Trade Snapshot
Indicator
Figure / Detail
Explainer
Total goods trade, 2024–25
US$ 1.05 billion
The annual merchandise trade size.
India’s exports to Norway
US$ 630 million
India sold more goods to Norway than it bought.
India’s imports from Norway
US$ 420 million
Norway remained a specialised supplier to India.
India’s goods trade balance
Approx. US$ 210 million surplus
India had a surplus, not a deficit, in goods trade.
Services trade
Around US$ 1 billion
Services are as important as goods in the economic relationship.
Norwegian companies in India
Over 160
Shows a strong business presence across niche sectors.
GPFG investment in India
Close to US$ 28 billion
Reflects major Norwegian capital market exposure to India.
FDI from Norway to India
US$ 764 million
Covers April 2000 to September 2025.
Major Export and Import Items
Trade Direction
Major Items Mentioned
What It Shows
India’s exports to Norway
Articles of apparel and accessories
Indian textile and clothing exports have a role in the trade basket.
India’s exports to Norway
Textile yarns and fabrics
Adds value beyond finished garments.
India’s exports to Norway
Organic chemicals
Shows India’s chemical export capability.
India’s exports to Norway
Manufactures of metals
Reflects industrial export presence.
India’s exports to Norway
Medicinal and pharmaceutical products
Highlights India’s pharma strength.
India’s exports to Norway
Electrical machinery and apparatus
Shows technology-linked industrial exports.
India’s imports from Norway
Non-ferrous metals
Indicates Norway’s role in specialised metal supply.
India’s imports from Norway
Metalliferous ores and metal scrap
Supports industrial raw material needs.
India’s imports from Norway
Plastic in primary form
Adds a chemical-materials dimension.
India’s imports from Norway
Organic chemicals
Shows two-way chemical trade.
India’s imports from Norway
Chemical materials and products
Reflects Norway’s industrial materials profile.
Investment and Business Presence
Area
Details
Economic Meaning
Norwegian companies in India
Over 160 companies
Norway has a broad business footprint in India.
Sectors of Norwegian presence
Food processing, shipbuilding, petroleum services, marine/sub-sea drilling equipment, hydropower, renewable energy and IT services
The relationship is concentrated in advanced and specialised sectors.
Indian companies in Norway
TCS, Infosys, HCL, L&T Infotech, Wipro and Tech Mahindra
Indian IT firms have established a strong presence.
Indian entrepreneurs
Several entrepreneurs from the Indian diaspora are gradually establishing themselves in Norway.
Diaspora enterprise adds a community-driven economic layer.
Norwegian capital in India
GPFG investment close to US$ 28 billion till December 2025
Capital-market investment is a major pillar.
FDI from Norway to India
US$ 764 million from April 2000 to September 2025
Shows direct investment flows into India.
Indian investment in Norway
No consolidated figure is given in the supplied input.
The safe published wording should mention company presence, not invent a figure.
Economic Timeline
Year / Date
Development
Economic Significance
1952
Norway opened its Embassy in India when it started its Fisheries Project in Kerala.
Fisheries formed one of the earliest practical cooperation areas.
2019
Joint Task Force on Blue Economy for Sustainable Development established.
Created a structured platform for ocean-linked development.
10 March 2024
India and EFTA signed TEPA in New Delhi.
Opened a new trade and economic framework involving Norway.
2024–25
Bilateral goods trade reached US$ 1.05 billion.
Confirmed the current merchandise trade scale.
2024–25
India exported US$ 630 million and imported US$ 420 million.
India held a trade surplus of about US$ 210 million.
September 2025
Maritime Security Dialogue held in Oslo.
Maritime cooperation gained a security dimension.
October 2025
TEPA entered into force.
The India–EFTA economic framework became operational.
November 2025
SDHI signed Letter of Intent with Rederiet Stenersen AS for six chemical tankers.
Marked a major Indian shipbuilding export opportunity worth about US$ 220 million.
16 December 2025
Eighth meeting of the Blue Economy Joint Task Force held.
Kept sustainable ocean cooperation active.
December 2025
GPFG investment in India stood close to US$ 28 billion.
Demonstrated deep Norwegian financial exposure to India.
