Norway supports India's bid for membership of MTCR, NSG and UNSC

NEW DELHI: Norway today supported India's bid for securing membership of the Missile Technology Control Regime (MTCR) and Nuclear Suppliers Group besides the UN Security Council even as the two countries held wide-ranging talks to boost ties including in security and investments.

External Affairs Minister External Affairs Minister Sushma Swaraj and her Norwegian counterpart Borge Brende, co-chairing the Joint Commission Meeting here, decided to hold a bilateral dialogue on trade and investments to explore untapped opportunities.

The meeting, fifth in series, reviewed the entire gamut of bilateral ties and explored ways to step up engagement in range of areas. Norway evinced interest in participating in Make in India initiative, smart cities and clean Ganga projects and development of ports, official sources said.

Brende conveyed to Swaraj that Norway supports India's bid for membership of MTCR, NSG and the UN Security Council. Swaraj also mentioned about role of outgoing MTCR chair, Ronald Waess of Norway.

India has been eyeing to get entry into the Nuclear Suppliers Group, the Missile Technology Control Regime, the Wassenaar Arrangement and the Australia Group.

Swaraj also thanked Norway for helping India get observer status of the Arctic Council, an inter-governmental forum that addresses issues faced by the Arctic governments.

In the meeting, Swaraj also referred to Norway's huge pension fund and sought possibility of investment from it in India.

Issues relating to clean energy and cooperation in the marine sector also figured in the meeting.

India and Norway enjoy close and friendly relations marked by high-level visits, commercial exchanges and people-to-people contacts.

President Pranab Mukherjee had visited Norway in October last year.

During his three-day visit, the Norwegian Foreign Minister will go to Mumbai tomorrow where the Consulate General of Norway would be re-opened on November 3.

The relations between India and Norway have been on an upswing.

There has been a substantial growth in economic and commercial relations between the two countries in recent years especially in areas such as oil and gas, shipping and maritime industries, renewable energy and service sectors.

Bilateral trade in 2013 was $742.4 million.

Norwegian investments in India rose considerably from under $4 billion in 2012 to around $8 billion in 2013.

Around 70 Norwegian companies are engaged in India either through joint ventures with Indian partners or through wholly owned subsidiaries.

ONGC and Reliance Industries have tie ups with Norwegian companies in the petroleum and energy sectors.

There has also been a trend of Norwegian IT companies to either offshore their business to India or acquire shares in Indian companies.

Indian IT majors like Tata Consultancy Services, Infosys, ITC Infotech, Larsen & Toubro Infotech and Wipro have increased their presence in Norway over the last few years due to existing potential of IT outsourcing contracts in the country.

Norwegian expertise in maritime operations have been in demand in India and the Norwegian shipping industry has likewise discovered the potential and economic viability of building vessels in Indian shipyards.

The size of the Indian community in Norway is around 12,924.