Indo-Norway Trade Relations

Among the major European union countries, perhaps Norway’s trade relation with India is the least substantial. However, Norway being a highly developed country offers different electronic and technological items to India. These are some of the major exports items of Norway to India: Machinery, iron & Steel, electronic machinery appliances, general industrial machinery, scientific control equipment, non-ferrous meals, telecom & equipment.

Among the major European union countries, perhaps Norway’s trade relation with India is the least substantial. However, Norway being a highly developed country offers different electronic and technological items to India. These are some of the major exports items of Norway to India: Machinery, iron & Steel, electronic machinery appliances, general industrial machinery, scientific control equipment, non-ferrous meals, telecom & equipment.

At the same time Norway imports different items from India in which India has a comparative advantage. Main import items from India include articles of apparels, textile, yarn & fabrics, misc. manufactured articles, metals, non-metal mineral manufacture, fruit & vegetables, furniture & parts, travel goods, hand bags, coffee, tea & spices, footwear..

The total Indian Exports to Norway rose from US $ 70.83 million in 2003 to US$ 176.24 million in 2004 and total imports from Norway were increased from US $ 96.95 million to US $ 128.65 million, according to the most recent figures for 2004.However, Norway doesn’t figure in india’s top ten trading partners and it accounts for only 0.31% in India’s total trade.

In infrastructure projects, Sawalkot Hydel Power Project in Jammu & Kashmir is a landmark in Indo-Norwegian collaboration. The project obtained CEA approval in 1994 and is now developed by J&K Power Development Corporation. Norwegian companies have also expressed interest in investing Kr 1bn (US$ 150 million) in two hydroelectric projects in India.

India and Norway are dissimilar in the levels of developments, Norway is an high technology country with the best standard of living in the world. There are nearly 40 Norwegian companies (medium and small) engaged in joint enterprises in India, with Indian partners Some Indian IT Companies have representatives in Norway. Besides adaptation, many small to medium enterprises are involved in developing products and technologies that are required for IT solutions and services in the Norwegian market. It may be mentioned that WIPRO is rendering IT services in Norway since 1998. There are over 40 Indian IT professionals in Norway at present.

Besides trade and investment, India cooperation with Norway also exists in the realm of science and technology. One example of this link is Norway’s purchase of one sounding rocket from India in November 1997, on commercial basis. In addition, many Indian students go to Norway for higher studies.