The following basic facts are important:
(i) Most Norwegian businesses can understand English.
ii) Indian visitors need valid Schengen Visa to enter Norway.
iii) Norway has its resident Embassy in New Delhi and Consulate in Mumbai.
iv) For queries and elaborations, please contact Embassy at email: commerce@indemb.no or com.oslo@mea.gov.in
Norway has the potential for being an excellent partner for Indian businessmen in a number of ways. The country has an economy that defies stereotyping. While it is not a member the European Union, it is within the European Economic Area. It is a highly industrialized economy, but relies on commodity exports: Norway is one of the world's largest exporters of oil as well as natural gas. Norway's 5.2 million citizens enjoy per capita income of approx. $ 82,711 (nominal); $ 74,065 (PPP) per annum. On average, each citizen of this country imports approximately $ 14,000 worth of goods annually and goes abroad twice for tourism. Under Norwegian law, the entire oil & gas export revenue is invested abroad under Government Pension Fund Global, which has a total corpus of over US$ 1050.8 billion at present. It also invests in India. There are also other large Norwegian investors.
India's full potential as trade partner for Nordic countries is yet to emerge. Indian share of Norwegian markets remains around 0.5%, which is less than a third of India's share in the global EU market. This is despite India's growing attractiveness as a low-cost, high-quality producer of goods and services. Lucrative opportunities exist for sourcing of textiles and garments, pharmaceuticals, light engineering items, consumer goods and foodstuff from India.
