With rising interest among European Free Trade Association (EFTA) countries, finance minister Nirmala Sitharaman has pitched Norwegian sovereign wealth and pension funds to step up investments in India, highlighting the country’s expanding economic ambitions and reform momentum.
During her ongoing visit to Oslo, Sitharaman met Norway’s Finance Minister Jens Stoltenberg, who said India’s sustained economic growth presents significant opportunities for investment and partnership, the finance ministry said in a post on X.
The two leaders discussed cooperation in renewable energy, particularly solar power, rare earth processing, and carbon capture and storage technologies. Both sides agreed to leverage the Trade and Economic Partnership Agreement (TEPA), especially in the blue economy, green economy, and investment flows through sovereign wealth and pension funds.
Sitharaman was also scheduled to hold a roundtable with Norwegian CEOs to explore long-term capital deployment through India’s National Investment and Infrastructure Fund (NIIF) and the International Financial Services Centres Authority (IFSCA), positioning India as a stable destination for patient capital.
Her participation in the 62nd Munich Security Conference (MSC) in Munich, followed by high-level engagements in Germany and Norway, reflects India’s growing role in shaping global economic stability, climate governance, and multipolar cooperation.
Sitharaman highlighted India’s leadership in climate justice, macroeconomic stability, and supply chain resilience, while pushing to accelerate the proposed India–EU free trade agreement, deepen investment ties, expand digital infrastructure partnerships, and strengthen integration into global value chains.
At the Munich conference session titled “Degrees of Instability: Climate Security in a Warming World,” Sitharaman said India has achieved two-thirds of its nationally determined renewable energy commitments four years ahead of schedule. She stressed that climate action must balance emission reduction with resilience and adaptation, and argued that countries with historically lower emissions should not shoulder equal financial burdens. India’s advances in manufacturing, electric mobility, infrastructure expansion, and digital public infrastructure were presented as pillars of inclusive and sustainable global growth.