New Delhi, Jan 7 (IANS): Norwegian Prime Minister Erna Solberg on Monday said that there was a "great scope" to develop bilateral partnerships with India in areas such as business, trade and investments.

"As India continues to be the fastest growing economy in the G20, we see a great scope for the Norwegian-Indian partnerships in business, trade and investments," Solberg said at the Indian-Norwegian Solutions for Sustainable Growth-seminar here.

"It is against this backdrop that Norway has just launched a new strategy for our engagement with India. This reflects the importance we place on our bilateral relations."

According to Solberg, the aim of the new strategy is to strengthen Norway's bilateral relations and economic ties with India.

She further said that open and free trade were crucial for economic growth.

"We are doing what we can to ensure that the Trade and Economic Partnership Agreement between EFTA and India will be finalised soon," Solberg said.

"This agreement will contribute to increased trade and a better environment for our businesses."

The Norwegian Prime Minister is on a three-day state visit to India that began on Monday during the course of which she will deliver the inaugural address at the annual Raisina Dialogue, a multilateral conference on international issues.