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Tuesday, May 21, 2024

Companies investing in India

Strong economic growth in India in attracting new investment from Norway. State business development agency Innovation Norway reports a surge of interest among Norwegian companies, and Norway’s embassy in New Delhi claims it can barely keep up with demand for information.

“We’re getting so many inquiries that we have problems handling them all,” Rajeev Koul, who works for Innovation Norway at the Norwegian Embassy in the Indian capital, told newspaper Aftenposten.

Innovation Norway currently has registered 70 Norwegian companies with operations in India and the number is increasing. The actual number is likely much higher, because Innovation Norway isn’t able to have a full overview.

India’s embassy in Oslo also confirms growing interest from Norwegian businesses keen to expand in India. Indian firms are especially interested in Norwegian expertise within the oil and gas industry and shipbuilding.

Telecoms firm Telenor remains the biggest Norwegian investor in India, through its Uninor venture, reports Aftenposten. Industrial concern Orkla also is a major player, after buying a spice firm outside Bangalore, while paint firm Jotun and SN Power also have large operations in India.

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