Europe · Country profile
Iceland
India-Iceland trade corridor: $10.4B bilateral trade, $9.0B FDI into India.
$10.4B
Trade with India
+12.9% YoY
$649.0B
GDP
Nominal
$9.0B
FDI into India
Cumulative
+$1.7B
Trade balance
India surplus
Top exports to Iceland
- Electronics
- Marine products
- Engineering goods
Top imports from Iceland
- Electronic components
- Chemicals
- Plastics
Trade corridor with India
2025: $10.4B · 5-yr CAGR 13.5%
Goods trade in USD billion, illustrative demo figures.
Latest Iceland stories
Trade4h ago7 min read
India-Iceland bilateral trade hits a new quarterly high
FDI7h ago3 min read
Iceland investors commit fresh capital to Indian manufacturing
Policy10h ago4 min read
Revised tariff schedule for India-Iceland goods notified
Technology13h ago5 min read
India and Iceland deepen cooperation on digital and AI standards
Policy and tariff watch
| Measure | Change | Status | Date | Alert |
|---|---|---|---|---|
| Import duty on engineering goods | 7% to 4% | In force | Jan 2026 | |
| Rules of origin certification | Digital certificates mandatory | Notified | Mar 2026 | |
| Pharma regulatory recognition | Mutual recognition under review | Consultation | Jun 2026 | |
| Agri products SPS standards | Revised residue limits | Proposed | Sep 2026 | |
| Trade agreement round | Round 7 of negotiations | Negotiating | Dec 2026 |
Upcoming events and delegations
Forum
India-Iceland Business Forum
Apr 2027 · New Delhi
Delegation
Trade delegation to Iceland
Dec 2026 · Iceland
Buyer meet
Iceland buyers-sellers meet
Jan 2027 · Mumbai
Policy
Joint working group on market access
Mar 2027 · Virtual
Opportunity sectors
📺S35Information and Broadcasting29% projected demand growth🩺S40Medical Devices & Healthtech18% projected demand growth💊S45Pharmaceutical13% projected demand growth🎛️S50Semiconductors10% projected demand growth⛓️S55Steel9% projected demand growth💧S60Water Resources & Management8% projected demand growth