India and Iceland held their 4th Foreign Office Consultations (FOC) in Reykjavík on 23 March 2026. The meeting was co-chaired by the secretary (West) in India’s Ministry of External Affairs, Amb. Sibi George, and Martin Eyjólfsson, permanent secretary of state in Iceland’s Ministry of Foreign Affairs.
Both sides reviewed bilateral cooperation and agreed to further strengthen ties in trade and investment; renewable energy, including geothermal energy; fisheries; and people-to-people contacts.
They also underscored that the India-EFTA Trade and Economic Partnership Agreement (TEPA) has opened a new chapter in economic and commercial ties and agreed to deepen the momentum of business linkages. Both sides exchanged views on regional and international issues of mutual interest, including developments in the neighbourhoods of India and Iceland. The sides emphasised the importance of multilateral engagements and continued dialogue on global challenges.
Both sides acknowledged the increase in bilateral trade in 2025 and the investment by Icelandic companies in India. Detailed discussions were held on the future direction of cooperation, including in multilateral fora, particularly the UN.
MEA Spokesperson Randhir Jaiswal posted, X: “They reviewed the entire gamut of bilateral cooperation and agreed to strengthen it further in the areas of trade and investment, renewable energy including geothermal energy, fisheries, and people-to-people ties. They underscored that the India-EFTA-TEPA has opened a new chapter in economic and commercial ties and agreed to deepen the momentum of business linkages. The sides also exchanged views on regional and global issues of mutual interest.”
Sideline Meetings
On 22 March, Secretary (West) Sibi George called on Iceland’s Foreign Minister Þorgerður Katrín Gunnarsdóttir. They discussed issues of bilateral, regional, and multilateral interest, the positive progress made in bilateral engagement in recent years, especially in geothermal energy, fisheries, and clean energy, and the implementation of the India-EFTA TEPA.
On 24 March, Sibi George called on Þórunn Sveinbjarnardóttir, Speaker of Alþingi, the Parliament of Iceland, and discussed issues of common interest in bilateral, regional, and multilateral relations, as well as the importance of parliamentary exchanges. He also met the Indian community in Reykjavík and appreciated their contributions to strengthening India-Iceland ties.
What next
Previously, India and Iceland held their third foreign office consultation in New Delhi on March 6, 2023. The 5th FOC is set to be held in New Delhi at a mutually convenient date.
The immediate focus will be on implementing the India-EFTA TEPA, which came into force on 1 October 2025, and is expected to deepen India’s economic ties with EFTA member countries — Iceland, Liechtenstein, Norway, and Switzerland — while supporting industrial growth and export expansion. For India and Iceland specifically, geothermal energy, clean technology, and fisheries are the sectors most likely to see increased collaboration in the months ahead.
