• overview
  • strengths
  • Bilateral Agreements
  • bilateral trade
  • agencies
  • Indian Mission

US$ 28.65
FDI inflow to India from April 2000 to March 2022

US$ 17.13mn

is bilateral trade value in 2020-2021

333
Overseas Indians living in Iceland

Efficient

business environment and educated labour force

Advanced infrastructure

for telecommunications networks and services

ICT

Iceland is among the leading countries in the world in terms of ICT- 2nd highest information technology skills in the world

Energy

Iceland has rich resources of hydroelectric and geothermal energy, which are responsibly harnessed--competitively priced green energy

Key sectors

Life sciences, tourism, data centres, algae culture, Renewable Energy, Fisheries, ICT, Biotechnology, and Arctic issues

India's Exports and Imports to Iceland

Value in US$ Millions

S.No. \Year 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022
1. EXPORT 5.90 30.79 10.05 10.91 11.77
2. %Growth 422.15 -67.36 8.58 7.84
3. India’s Total Export 303,526.16 330,078.09 313,361.04 291,808.48 422,004.40
4. %Growth 8.75 -5.06 -6.88 44.62
5. %Share 0.00 0.01 0.00 0.00 0.00
6. IMPORT 7.40 8.67 10.41 6.22 5.71
7. %Growth 17.11 20.13 -40.30 -8.19
8. India’s Total Import 465,580.99 514,078.42 474,709.28 394,435.88 613,052.05
9. %Growth 10.42 -7.66 -16.91 55.43
10. %Share 0.00 0.00 0.00 0.00 0.00
11. TOTAL TRADE 13.30 39.46 20.46 17.13 17.48
12. %Growth 196.71 -48.14 -16.29 2.02
13. India’s Total Trade 769,107.15 844,156.51 788,070.32 686,244.36 1,035,056.45
14. %Growth 9.76 -6.64 -12.92 50.83
15. %Share 0.00 0.00 0.00 0.00 0.00
16. TRADE BALANCE -1.50 22.13 -0.36 4.70 6.06
17. India’s Trade Balance -162,054.83 -184,000.33 -161,348.24 -102,627.40 -191,047.65

Note: Since 2006-07, Petroleum figures are being computed from Import Daily trade Returns (DTRs) to generate country-wise/port-wise tables. Up to 2005-06, consolidated petroleum import figures were being received from the Petroleum Ministry.

Invest in Iceland

+354-511-4000

Visit Website

Sundargardar 2, IS-104 Reykjavík

Embassy of India, Iceland

com.reykjavikmea.gov.in

00354 – 5349955

Visit Website

Tungata 7, 101 Reykjavik

Opportunities

Agricultural exports

    Beer made from malt (220300)
    Waters, incl. min. waters & aerated waters, cont. added sugar/oth. sweeteni … (220210)
    Wine other than sparkling wine of fresh grapes, incl. fortified; grape must with fermentation prevented/arrested by the addition of alcohol, in containters of 2 l/less (220421)

    agriexchange.apeda.gov.in

    Meat of bovine animals, frozen, boneless (020230)

    agriexchange.apeda.gov.in

    Bread, pastry, cakes, biscuits & oth. bakers’ wares n.e.s. in Ch.19, whethe … (190590)
    Sugar confectionery other than chewing gum (incl. white chocolate), not con … (170490)

    agriexchange.apeda.gov.in

    Chocolate & oth. food preps. cont. cocoa (excl. of 1806.20-1806.32) (180690)

    agriexchange.apeda.gov.in

    Food preps., n.e.s. (210690)
    Prepared foods obt. by the swelling/roasting of cereals/cereal prods. (190410)
    Sauces & preps. therefor, n.e.s.; mixed condiments & mixed seasonings, n.e. … (210390)

    agriexchange.apeda.gov.in

    Crustaceans, frozen, cold-water shrimps & prawns (pandalus spp. crangon crangon) in shell or not, smoking or not smoked, cooked or not before or during smaoking, in shell, cooked by steaming or by boiling in water
    Fish – fresh or chilled, cod (gadius, morhua gadus ogac, gadius macrocephalus), excluding fillet, liver, roes & other fish meat.
    Fish – fresh or chilled, n.e.c. in heading 0302 excluding fillet, liver, roes & other fish meat of heading 0304 (030289)
    Fish – fresh or chilled, swordfish (xiphias gladius) excluding fillet, liver, roes and other fish meat
    Molluscs; cuttle fish and squid, whether in shell or not, frozen, dried, salted, in brine, or smoked, cooked or not before or during the smoking process.

    fishexchange.mpeda.gov.in

Priority Sectors

Here are the leading sectors of opportunities for foreign investors

Top Import/ Export Items

India's top import from Iceland
  • Fish and fish products
  • Food supplements
  • Cod liver oil
  • Ferrosilicon
  • Medicines
  • Aluminium products
  • Prosthetics and medical equipment
India's top export to Iceland
  • Organic chemicals
  • Apparels & accessories
  • Textile yarn
  • Cereals & cereal products

Bilateral Investors

Country News

India to finalise trade agreement with EFTA

January 23, 2024

India and the EFTA, consisting of Iceland, Liechtenstein, Norway, and …

Read More

India-Nordic-Baltic Nations explore strengths and opportunities for a greener more digital growth

November 10, 2020

The Ministry of External Affairs of India and the Confederation …

Read More

India-E29 Forum: A force of economic empowerment

November 22, 2019

The fifth edition of the India-Europe 29 Business Forum – …

Read More