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Tremendous business opportunities await in Iceland

Monday, November 28, 2016
By A Business Reporter

(L-R) Gul Kripalani, Consul General (Vice Dean, Hon Consuls), Consulate General of the Republic of Iceland, Mumbai, Rupa Naik, Executive Director, AIAI and Thorir Ibsen, Ambassador of Iceland to India

India and Iceland share good diplomatic and business relations for more than 40 years. Moreover the strong fundamental values such as democracy, universal human rights, the rule of law and the peaceful settlement of disputes makes Iceland a good investment destination stated Thorir Ibsen, Ambassador of Iceland to India at an Interactive Meeting organized by the All India Association of Industries and the World Trade Centre Mumbai.

Ibsen further added that business relations with India have been growing over the years, however the volume of trade in goods is only US$ 29 million. Both countries have the highest economic growth in their respective regions 4.2% in Iceland and 7.3% in India.

Rupa Naik, Executive Director, All India Association of Industries (AIAI) in her welcome address said that there are immense opportunities areas for co-operation between Iceland and India. Though we share a very cordial and long relationship with the country there still are many areas that remain unexplored and we can further co-operate in sectors such as food, IT, entertainment, garments and hi tech sectors such as biotechnology, food processing and renewable energy.

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