PROLOGUE
// ACKNOWLEDGEMENT
INDIA IS AMONG THE TEN LARGEST ECONOMIES IN THE WORLD TODAY and some predict it to be the 3rd largest by 2050. With a population of 1.2 billion people and an impressive economic growth averaging 8 percent the last decade, the Indian market offers great business opportunities to Norwegian companies. THE TOTAL TRADE IN GOODS between our countries has more than doubled since 2005, and so have Norwegian exports to India. Given the enormous potential of the Indian market, this figure is expected to increase further. The Indo-Norwegian relations are well established. I am particularly pleased that Norway is currently negotiating a free trade agreement with India through EFTA (The European Free Trade Association). Once this agreement is in place, it is likely to enhance economic and commercial relations even further. AS MANY AS A HUNDRED NORWEGIAN COMPANIES ARE ALREADY ESTABLISHED IN INDIA. Norwegian companies have expertise in many areas of interest to India, especially in sectors such as oil and gas, maritime, hydropower, ICT and environmental technology. By exploring our complementary competences further, we can take full advantage of our partnership. THE INTERNATIONAL BUSINESS PROJECT can be useful both for the companies already present in the Indian market and the companies that are considering entering the market. I am therefore pleased to acknowledge the work done by students from NHH, BI and NTNU in writing this report. When students spend time abroad during their studies and gain knowledge of foreign markets, it is also of great value to Norwegian companies. Today’s students are key players in making the most of the Indo-Norwegian business potential in years ahead.
Trond Giske, Minister of trade and industry
IB International Business India
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