Norwegian Firms Urge Narendra Modi to Ease Rules

Norwegian business leaders urged Narendra Modi to simplify regulatory processes and address operational challenges during the India-Norway Business and Research Summit held in Oslo on Tuesday. Industry representatives said India could further improve its ease of doing business by streamlining approval systems and reducing procedural delays.

The summit formed part of PM Modi’s bilateral visit to Norway, where he met Norwegian Prime Minister Jonas Gahr Store and interacted with around 250 participants, including CEOs from nearly 50 companies. During the event, Indian and Norwegian firms signed 19 business-to-business Memorandums of Understanding (MoUs) aimed at strengthening cooperation across sectors.

Norwegian Prime Minister Store personally moderated the discussions and invited business leaders from both countries to share their experiences and suggestions. Executives openly discussed the difficulties they faced while operating in India and highlighted areas where the government could simplify procedures and improve efficiency.

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Norwegian Firms Seek Easier Business Rules from Narendra Modi

Among the speakers, Svein Tore Holsether, CEO of Yara International, raised concerns related to the company’s fertilizer plant in Uttar Pradesh’s Babrala. He requested faster fertilizer registration approvals and a more supportive regulatory framework to help the company expand operations and provide advanced agricultural solutions to Indian farmers.

Holsether stated that quicker approvals and simplified procedures would help reduce dependence on subsidised fertilizers while improving access to modern crop nutrition products. He also mentioned that certain ground-level challenges in Uttar Pradesh were creating uncertainty around the company’s future business growth and investment plans.

PM Modi highlighted the growing trade and investment ties between India and Norway after the implementation of the India-EFTA Trade and Economic Partnership Agreement (TEPA). He encouraged Norwegian businesses to increase investments in India and work towards the EFTA bloc’s commitment to invest $100 billion in the country by 2040.

Meanwhile, Anders Opedal, CEO of Equinor, emphasized the strong energy partnership between the two countries. He noted that Equinor recently delivered its first long-term LNG consignment to India and said stronger collaboration between India and Norway could improve long-term energy security and create greater economic value for both nations.

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