India, Norway sign Social Security Agreement

October 29th, 2010 - 10:25 pm ICT by IANS  

New Delhi, Oct 29 (IANS) In an effort to enhance social security cooperation between India and Norway, Overseas Indian Affairs Minister Vayalar Ravi and Norwegian Trade and Industry Minister Trond Giske Friday signed a Social Security Agreement.

“This agreement will play an important role to secure intersocial security for citizens of both the countries. Now Indian and Norwegian companies can work together in a better manner,” Giske said after signing the agreement.

Ravi said: “This is a happy occasion that marks an important milestone in India-Norwegian relations. I am confident this bilateral relation will grow from strength to strength, and India and Norway will share a strong economic relationship.”

As per the agreement, workers sent by Norway-based companies to their Indian subsidiaries as well as workers sent by Indian companies to their branches in Norway will be exempt from social security contribution in the host country for 60 months.

While working, these employees will only be subject to the social security regulations of their home country. This agreement is expected to better facilitate the movement of professionals between the two countries.

There are at present about 13,000 Indians working in Norway and nearly 140 Norwegians working in India.

“We are also exploring possibility of human resources mobility to improve ties between the two countries,” Ravi said.

Said Giske: “We are seeking workforce in our maritime, IT and telecom sectors from India… it is the working people of the two countries who build friendship between the countries more than anything else.”

India has signed similar agreements with Belgium, Germany, France, Switzerland, the Netherlands, Luxembourg, Hungary, Denmark, Czech Republic and South Korea.

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