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Iceland and India are the two fastest growing economies in their respective regions. Business relations between the two countries offer numerous opportunities. Many of these could contribute to the important initiatives of Prime Minister Narendra Modi such as the Make in India, the Smart Cities, Skill India and Clean India. In this context I would mention specifically Iceland's renewable energy expertise, especially in the area of hydro power and geothermal energy. In fact a number of Indian students have received training at the United Nations University Geothermal Programme in Iceland. Other opportunities are in the area of environmental technologies, food processing technologies, digital technologies, medical devices and bio-technology. The opportunities are out there waiting to be seized. Early completion of the India-EFTA Free Trade Agreement would certainly boost the business confidence between Iceland and India.

-H.E. Mr Thórir Ibsen, Ambassador of Iceland to India