Narendra Modi visits Norway to boost trade and investment ties
Prime Minister Narendra Modi is visiting Norway this week, marking the first Indian prime minister to visit Norway in more than four decades.
The main goal: strengthen trade and investment ties, helping India diversify where it sells goods and attract more money for things like infrastructure and clean energy.
Norway now India's 7th-largest portfolio investor
Norway has risen to become India's 7th-largest foreign portfolio investor in 2025, moving up from 10th place in 2016 to seventh in 2025.
Its share of foreign portfolio holdings has nearly doubled over the past decade, and trade is on the rise: Indian exports were $471.9 million in FY26 (the 2025-26 fiscal year).
With Norway's Government Pension Fund Global, the world's largest sovereign wealth fund, Norway is set to play a big part in the new India-EFTA agreement, which is expected to facilitate $100 billion in investment commitments and create 1 million jobs over the next 15 years.