India’s strong economic growth trajectory and the implementation of the India-EFTA Trade and Economic Partnership Agreement (TEPA) are creating significant opportunities for Norwegian investors, particularly in manufacturing, renewable energy, infrastructure, financial services and the digital economy, according to industry insights.

With GDP growth projected to remain around 6.5 per cent annually through 2030, India is widely expected to become the world’s third-largest economy by the end of the decade, according to EY India report.

Analysts attribute this outlook to strong domestic consumption, rising investments, ongoing infrastructure development and reforms aimed at improving the ease of doing business.

The India-EFTA TEPA, which came into effect in October 2025, is being viewed as a major milestone in India-Norway economic relations.

The agreement seeks to promote trade liberalisation, facilitate investment flows and deepen cooperation in areas such as innovation, sustainability and advanced technologies.

The pact includes investment commitments of $100 billion over 15 years and is expected to support the creation of one million direct jobs in India, aligning with the country’s broader goals of expanding manufacturing capacity and strengthening its position in global value chains.

Industry experts believe the agreement creates a strong framework for Norwegian companies to expand their presence in India by combining Norway’s expertise in technology, sustainability and capital-intensive industries with India’s large market and growth ambitions.

Several sectors have been identified as priority areas for collaboration, including manufacturing, renewable energy, oil and gas, maritime services, seafood processing, information and communication technology (ICT), fintech and financial services. These industries are expected to benefit from increasing bilateral cooperation under the TEPA framework.

The rapid expansion of India’s digital economy and digital payments ecosystem is also creating opportunities for Norwegian companies seeking exposure to one of the world’s largest and fastest-growing consumer markets.

At the same time, India’s policy measures aimed at attracting foreign investment are expected to provide a supportive environment for long-term investors, as per the report.

London, Oct 17: A tanker has reportedly been attacked 78 nautical miles northeast of Al Jubail, Saudi Arabia, the United Kingdom Maritime Trade Operations (UKMTO) said on Saturday.

The master of the tanker reported being attacked by a rocket-propelled grenade from a small boat, resulting in damage to the aft port quarter, according to the UKMTO.

Crew are accounted for and reported safe, and a complete damage assessment and environmental impact are unknown, said the UKMTO.

Earlier this week, Yemen’s Houthi group said that it had launched a large-scale missile and drone attack targeting an airport and oil facilities in Saudi Arabia. It also vowed to continue strikes against Saudi targets in the coming days.

In a statement broadcast by Houthi-run al-Masirah TV, Houthi military spokesperson Yahya Sarea said the group targeted Saudi energy giant Aramco in Dhahran in the Eastern Province, as well as King Khalid International Airport and an Aramco refinery in Riyadh.

According to Sarea, the operation involved “a large number of ballistic and cruise missiles and drones,” which accurately hit their targets, causing damage and fires.

The Houthi spokesperson said the operation was carried out in retaliation for Saudi Arabia-led strikes on the Houthi-held capital of Sanaa and other areas under the group’s control. He said Saudi-led forces had carried out 2,281 air and missile strikes since the latest escalation began, Xinhua news agency reported.

Sarea vowed that the group’s attacks “deep inside Saudi Arabia” would continue in the coming days, targeting airports and oil facilities. He also renewed a warning to international airlines, civilians and employees to stay away from airports and oil facilities in Saudi Arabia that the group had designated as targets.

The Houthi claim came after the Saudi-led coalition in Yemen said it intercepted six Houthi missiles and three drones heading towards Saudi Arabia on Tuesday. An Aramco administrative building in Dhahran was targeted Tuesday evening, sparking a limited fire, while debris from two cruise missiles intercepted over Riyadh injured four people and damaged 15 homes, Saudi authorities said Wednesday.

The navy of Iran’s Islamic Revolutionary Guard Corps (IRGC) said on Saturday that a “violating” supertanker that sought to cross the Strait of Hormuz through an “unauthorised” route within the preceding hours suffered a “huge” explosion after hitting a naval mine.

The explosion resulted in a “massive” fire on the oil tanker, which had turned off its GPS and radar systems, the navy said in a statement published by the IRGC’s official news outlet, Sepah News.

Carrying more than two million barrels of crude oil, the vessel sought “unauthorised” passage through the strait with the US. military’s support, Sepah News reported, adding that the waterway has been closed, Xinhua News Agency reported.

On Wednesday, the IRGC Navy said a “violating” container ship attempting to pass through the Strait of Hormuz via an “unauthorised and high-risk” route sank earlier in the day after hitting a naval mine south of the waterway.

Speaking to state-run IRIB TV on Tuesday, IRGC Navy Commander Ali Azmaei said his troops are controlling the Persian Gulf and the Strait of Hormuz “round the clock,” while the Gulf of Oman is under the control and supervision of Iran’s navy.

He warned that those violating shipping rules under US “deception or provocation” would face a decisive response from Iran.

Meanwhile, Iran’s President Masoud Pezeshkian on Friday reiterated that his country does not seek to develop nuclear weapons, dismissing anti-Tehran propaganda claiming otherwise as a “lie.”

Pezeshkian made the remarks during a meeting with Georgian Prime Minister Irakli Kobakhidze on the sidelines of the 17th Conference of the Parties (COP17) to the Convention on Biological Diversity in the Armenian capital, Yerevan, according to a statement on his office’s website.

“Iran does not seek to develop nuclear weapons, and we consider the destructive propaganda against our country as a lie,” he said, citing the clear positions of Iran’s late Supreme Leader Ali Khamenei regarding the prohibition of developing nuclear weapons.