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{{Short description|1=Diplomatic relations between the Republic of Iceland and the Republic of India}}
{{Infobox bilateral relations|Indo-Icelandic|Iceland|India|filetype=svg}}
'''Iceland–India relations''' refers to the [[bilateral relations]] between [[Iceland]] and [[India]]. Historically, Indo-Icelandic bilateral relations have been friendly but lacked substantive content.{{vague|date=February 2012}}<ref name="My background helps me: Kalam ">{{cite news|url=http://www.hindu.com/2005/05/30/stories/2005053014431200.htm|archive-url=https://web.archive.org/web/20060115104755/http://www.hindu.com/2005/05/30/stories/2005053014431200.htm|url-status=dead|archive-date=2006-01-15|title=My background helps me: Kalam |author=Prasad, K. V. |date=2005-05-30|work=[[The Hindu]]|access-date=2008-09-28}}</ref> Iceland and India established diplomatic relations in 1972. At that time the embassy of Iceland in [[London]], [[United Kingdom]] was accredited to India and the embassy of India in [[Oslo]], [[Norway]], was accredited to Iceland. Embassies were established in New Delhi in 2005 and in Reykjavik in 2006.

== History ==
Iceland and India established diplomatic relations in 1975. The embassy of Iceland in [[London]], [[United Kingdom]] was accredited to India and the embassy of India in [[Oslo]], [[Norway]], was accredited to Iceland. However, it was only after 2005 that the two countries began to strengthen diplomatic and economic relationships.<ref name="Inauguration of the Embassy of Iceland in New Delhi" /> In 2005, [[President of Iceland]] [[Ólafur Ragnar Grímsson]] made the first visit by an Icelandic President to India. During the visit, Iceland pledged support for India's candidature for a permanent seat at the [[United Nation Security Council]], thus becoming the first [[Nordic countries|Nordic]] country to do so. This was followed by an official visit by the [[President of India]] [[A. P. J. Abdul Kalam]] to Iceland in May 2005.<ref name="My background helps me: Kalam " /> Following this a new embassy of Iceland was opened in New Delhi on 12 February 2006.<ref name="Inauguration of the Embassy of Iceland in New Delhi">{{cite web|url=http://www.iceland.org/in/the-embassy/news-and-events/nr/1748 |title=Inauguration of the Embassy of Iceland in New Delhi |date=2006-02-26 |publisher=Icelandic Foreign Service |access-date=2008-09-28 |url-status=dead |archive-url=https://web.archive.org/web/20061003172058/http://www.iceland.org/in/the-embassy/news-and-events/nr/1748 |archive-date=2006-10-03 }}</ref> Soon, an [[Indian Navy]] team visited Iceland on friendly mission.<ref name="Indian Navy Team in Iceland">{{cite web|url=http://www.iceland.org/in/the-embassy/news-and-events/nr/2929|title=Indian Navy Team in Iceland|date=2006-08-25|publisher=Icelandic Foreign Service|access-date=2008-09-28|url-status=dead|archive-url=https://web.archive.org/web/20081203003017/http://www.iceland.org./in/the-embassy/news-and-events/nr/2929|archive-date=2008-12-03}}</ref> [[Gunnar Pálsson]] is the incumbent ambassador of Iceland to India.<ref name="About the Embassy">{{cite web|url=http://www.iceland.org/in/the-embassy/about-the-embassy/|title=About the Embassy|publisher=Icelandic Foreign Service|access-date=2008-09-28|url-status=dead|archive-url=https://web.archive.org/web/20080928072152/http://www.iceland.org/in/the-embassy/about-the-embassy/|archive-date=2008-09-28}}</ref> India appointed [[S. Swaminathan]] as the first resident ambassador to Iceland in March 2008.<ref name="Shri S. Swaminathan to be India’s first resident Ambassador to Iceland">{{cite web|url=http://meaindia.nic.in/pressrelease/2008/09/03pr01.htm |title=Shri S. Swaminathan to be India's first resident Ambassador to Iceland |date=September 3, 2008 |publisher=NIC India Ministry of External Affairs, New Delhi |access-date=2008-09-28 |url-status=dead |archive-url=https://web.archive.org/web/20090410162813/http://meaindia.nic.in/pressrelease/2008/09/03pr01.htm |archive-date=April 10, 2009 }}</ref>

== Economic relations ==
{| style="float:right; margin:0 0 0.5em 1em;" class=wikitable
|-
|+ India Iceland Trade
(in US $ millions)<ref name="Iceland India Business Guide 2007 " />
! style="background-color:#99ccff" |Year
! style="background-color:#99ccff" |Export from<br/>Iceland to India
! style="background-color:#99ccff" |Export from<br/>India to Iceland
|-
| 2001
|align=center| 0.46
|align=center| 13.01
|-
| 2002
|align=center| 0.47
|align=center| 27.19
|-
| 2003
|align=center| 0.76
|align=center| 23.08
|-
| 2004
|align=center| 0.89
|align=center| 16.10
|-
| 2005
|align=center| 1.14
|align=center| 18.95
|}
Iceland [[export]]ed goods to India amounting to [[US $]]1.14 million in 2007. The main item of export were [[fish products]], primarily [[cod]], amounting to 77% of the total exports. Other items included industrial goods and medical products. India exported US$18.95 million worth of goods to Iceland in the same year, in which consumer goods were the largest with 52.5% of total exports, followed by raw materials at 37.8%. The trade between the two countries is still considered limited, but with growth potential.<ref name="Iceland India Business Guide 2007 ">{{cite web|url=http://www.iceland.org/media/india/BG07_FINAL.pdf |title=Iceland India Business Guide 2007 |date=2007-04-20 |publisher=Icelandic Foreign Service |access-date=2008-09-28 |url-status=dead |archive-url=https://web.archive.org/web/20080517212704/http://www.iceland.org/media/india/BG07_FINAL.pdf |archive-date=May 17, 2008 }}</ref> By 2007, total bilateral trade was US$26.7 million of which imports from India were US$25.1 million and exports to India were US$1.6 million.<ref name="Important Bilateral Treaties and Agreements" />

==Agreements==
India and Iceland signed a [[Double Taxation Avoidance Agreement]] to strengthen the ties of economic cooperation. The treaty covers the taxes of income, [[dividend]]s, interest, royalties and fees for technical services and stipulates that the rate of tax in the country where the income was made must not be higher than 10%.<ref name="India and Iceland conclude tax agreement">{{cite news|url=http://www.icenews.is/index.php/2007/11/30/india-and-iceland-conclude-tax-agreement/|title=India and Iceland conclude tax agreement|author=Rienstra, A.|date=30 November 2007|publisher=International Nordic News|access-date=2008-09-28}}</ref> The two countries also signed a [[Memorandum of Understanding]] (MoU) for co-operation in the [[renewable energy]] sector. Iceland and India cooperate in [[hydrogen cell]]s and [[fuel cell]]s under the forum of [[International Partnership for Hydrogen Economy]].<ref name="India, Iceland sign MoU for renewable energy cooperation">{{cite news|url=http://economictimes.indiatimes.com/News_by_Industry/India_Iceland_sign_MoU_for_renewable_energy_cooperation/articleshow/2443454.cms|title=India, Iceland sign MoU for renewable energy cooperation|date=9 October 2007|work= PTI|publisher=Economic Times|access-date=2008-09-28}}</ref>

Both countries have also signed a MoU for studies of anomalies ahead of [[earthquake]]s, which has received considerable praise internationally.{{by whom|date=February 2012}}<ref name="Iceland and India enter into cooperation on earthquake prediction research">{{cite web|url=http://www.iceland.org/in/the-embassy/news-and-events/nr/3807|title=Iceland and India enter into cooperation on earthquake prediction research|date=10 April 2007|publisher=Icelandic Foreign Service|access-date=2008-09-28|url-status=dead|archive-url=https://web.archive.org/web/20081203001826/http://www.iceland.org./in/the-embassy/news-and-events/nr/3807|archive-date=2008-12-03}}</ref> In 2007, both states also signed an MoU on Sustainable Fisheries Development and a Bilateral Investment Protection Agreement.<ref name="Important Bilateral Treaties and Agreements">{{cite web|url=http://meaindia.nic.in/foreignrelation/iceland.pdf |title=Important Bilateral Treaties and Agreements |publisher=Ministry of External Affairs of India |access-date=2000-12-31 |url-status=dead |archive-url=https://web.archive.org/web/20090226073737/http://meaindia.nic.in/foreignrelation/iceland.pdf |archive-date=February 26, 2009 }}</ref>

== References ==
{{Reflist|2}}

{{Foreign relations of India}}
{{Foreign relations of Iceland}}

{{DEFAULTSORT:Iceland-India Relations}}
[[Category:Iceland–India relations| ]]
[[Category:Bilateral relations of India]]
[[Category:Bilateral relations of Iceland|Indi]]

Iceland–India relations - Revision history

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