India and Norway have reached an agreement to bolster their bilateral trade and investment relations. As part of the agreement, India is extending tariff concessions on 82.7% of its tariff lines, which encompasses 95.3% of the exports from the European Free Trade Association (EFTA). Notably, over 80% of these exports will benefit from the tariff reductions.
This move is expected to significantly enhance trade between India and the EFTA countries, particularly Norway.