Norway Increases Investments in India

According to Norwegian Ambassador to India Nils Ragnar Kamsvag, ” The simplified Goods and Services Tax is a good example of India speeding up its economic reforms process. We are very upbeat about seeing India take such measures, as these will help not only India emerge as a very strong economy in the world, but give a boost also for Norway’s trade relations with India. GST is another milestone in strengthening India’s economic position globally.”

Picture of Nils Ragnar Kamsvåg

Nils told the Economic Times that Norway’s sovereign wealth fund, the world’s biggest such fund, is willing to increase exposure in India. The value of this fund rose to a record 8 trillion Norwegian crowns ($935 billion) in the first week of May this year.

The fund, run by a unit of the central bank, invests proceeds from Norway’s oil and gas industry in foreign stocks, bonds and real estate, and is now worth more than 2.5 times the country’s annual GDP. Over the last three years, the Norwegian government took policy initiatives to increase investments by its Government Pension Fund Global in India, to approximately $9 billion.

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Posted on by Gunjan Bagla
Gunjan Bagla
California-based management consultant Gunjan Bagla runs Amritt, a consulting firm helping American companies to succeed in India. Amritt is the trusted advisor for India market research, India business development, India market entry, Global Engineering, Global Technology Scouting, India R&D and Open Innovation. Gunjan is author of "Business in 21st Century India: How to Profit Today from Tomorrow’s Most Exciting Market" (Hachette Book Group, 2008), Amazon's top rated title on the subject. He has appeared as the India Expert on BBC Television, Bloomberg TV, Fox Cable Business and has been quoted in the New York Times, the Los Angeles Times, the Hollywood Reporter and Business Week for his expertise on India.

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