Piyush Goyal concludes historic Norway visit, focuses on strengthening trade ties

NEW DELHI: Union Minister of Commerce and Industry Piyush Goyal has concluded his visit to Norway, marking the first such visit by an Indian Commerce Minister in over 25 years. The visit focused on strengthening bilateral trade and economic relations, with key engagements involving Norway’s political and business leadership.

In a social media post shared on Thursday, Goyal said, “Concluded my productive visit to Norway, the first by a Commerce and Industry Minister from India in over 25 years. My engagements with the political and business leadership in the country give me immense confidence that our ties are set to enter a new phase of trust and growth.”

During his visit, Goyal met Cecilie Myrseth, Norway’s Minister of Trade and Industry. The two leaders held discussions on enhancing trade relations in line with the recently signed India-EFTA Trade and Economic Partnership Agreement (TEPA). They also explored new opportunities to boost bilateral cooperation in various sectors.

#WATCH | Union Minister Piyush Goyal concludes a historic & productive visit to Norway — the first by an Indian Commerce & Industry Minister in over 25 years.
Engaged with Norwegian leadership & investors on boosting bilateral trade, capital market opportunities & #Giftcity… pic.twitter.com/mkkcd003s4

— PB-SHABD (@PBSHABD) May 1, 2025

Goyal also had the honour of visiting the Norwegian Parliament — Stortinget — where he interacted with distinguished members. The discussions focused on enhancing India-Norway trade ties and exchanging views on shared democratic values and people-centric governance.

The minister said, “It was an honour to visit the Norwegian Parliament — Stortinget — and interact with some of the distinguished members. Had an extensive discussion on enhancing India-Norway trade and economic ties. We also exchanged views on our strong democratic traditions and commitment to development, rooted in people-centric governance”.

A key highlight of the visit was the co-chairing of the Norway-India Business Executive Roundtable, alongside Minister Myrseth. The roundtable centered on expanding economic cooperation, fostering innovation-led growth, and exploring collaborations to deepen business engagement between the two nations.

The minister also interacted with the India-Norway business community at the ‘Innovation Norway’ centre. He spoke about India’s improved Ease of Doing Business, a favourable investment climate, and the country’s leadership in global talent and technology.

He also highlighted the investment opportunities under TEPA and encouraged Norwegian businesses to explore the growing Indian market. In another engagement, Goyal participated in a panel discussion with leading Norwegian investors. He discussed investment prospects in India’s capital markets and emphasized the potential of GIFT City as a new global financial hub.

He positioned GIFT City as a gateway for global investors amid the changing economic landscape. Goyal’s visit is expected to lay the foundation for deeper commercial engagement between India and Norway, opening up new avenues for trade, investment, and innovation. (ANI)