The agreement was concluded through EFTA (The European Free Trade Association). The agreement provides Norwegian exporters and investors with better access to the vast Indian market. This is a rare opportunity to expand business in one of the world’s fastest-growing economies. (Source: The Royal Norwegian Embassy in India).
Intellectual property rights
The trade agreement includes provisions on intellectual property rights. This gives Norwegian companies greater legal certainty when establishing themselves in the Indian market.
The parties acknowledge and commit to protecting:
- patents
- trademarks
- designs
- trade secrets
- copyright and related rights
- protection of plant varieties
- geographical indications and indications of origin
Indian companies are investing heavily in patents
Indian companies are heavily investing in innovation — and it shows. In 2023, a total of 58 502 patent applications were filed in India. Of these, 24 936 came from Indian inventors and companies. This marks a significant increase compared to previous years and highlights how rapidly India is developing new technologies.
India is particularly strong in pharmaceuticals. Between 2019 and 2021, as much as 15.5% of all patent applications were related to medicines and pharmaceutical technologies. This was followed by organic chemistry (13.2%) and biotechnology (7.7%).
