The 90-odd Norwegian companies including wealth funds operating in India find the business climate in India favourable with many of them looking to increase footprints in the near future.
According to the first ever Business Climate Survey conducted by the the Norwegian Business Association India (NBAI) and Norwegian Consulate in Mumbai, in collaboration with Innovation Norway, the commercial section of the Norwegian Embassy in Delhi, 62 per cent of the companies found the business climate in India favourable.
The survey was conducted to assess the current and near future business climate for Norwegian companies with specific focus on the maritime sector. There are around 90 Norwegian companies operating in India, the largest ones among them being Telenor, DNB, Aker Solutions, Kongsberg, Jotun, Statkraft Norfund Power, Det Norske VeritasBSE 1.98 % and Elkem.
According to the survey, 59 per cent of these companies are looking to increase their workforce by at least 20 per cent next year.
"Telecom, oil and gas, manufacturing, consulting, maritime and marine (fisheries) form the backbone of Norway's economy," Norwegian Ambassador to India Nils Ragnar Kamsvag said.