On June 4, 2024, the Norway India Chamber of Commerce and Industry (NICCI) hosted the "Norway India Business Day 2024" in Oslo, a significant event spotlighting the strengthening economic relations between India and Norway. Central to these discussions was Aker BioMarine, a global leader in biotechnology, highlighting its growing presence and future in India's flourishing aquaculture market.
India stands as a giant in the aquaculture industry, ranking second worldwide in production, just behind China. The country produces an impressive 14.16 million metric tons of fish annually, with aquaculture contributing about 65% of this volume. Aker BioMarine has capitalized on this vast potential, maintaining a robust annual growth rate over the past years.
During the panel discussion, Aker BioMarine’s CEO, Matts Johansen, discussed the transformative opportunities presented by the recent India-EU Free Trade Agreement. The agreement is expected to enhance trade and investment flows significantly, bolstering sectors such as aquaculture. Johansen shared the stage with the ambassador of India Acquino Vimal and Børge Grønbech from the Norwegian Seafood Council, in a session moderated by Cristian Valdes Carter from Innovation Norway - India.
Driving Future Growth
Aker BioMarine's focus on India aligns with the country's ambitious goals for modernizing and expanding its aquaculture industry. The company's sustainable practices and innovative approaches are well-suited to support India's growth and meet the increasing global demand for aquaculture products.
The Norway India Business Day 2024 emphasized the burgeoning opportunities in bilateral trade and investment, particularly in sectors like aquaculture, green energy, and AI. With leaders from both countries discussing these critical areas, Aker BioMarine is well-positioned to continue its expansion and contribute significantly to India's aquaculture success story.