Icelandic Innovation in the Economic Boom in India

Attractive business climate in India and Icelandic innovation was highlighted in seminar for Icelandic innovative companies on 7th March 2023, held by the Embassy in New Delhi, Invest India and the Indo Icelandic Business Association IIBA. The companies Marel India, Kerecis, Carbon Recycling International, GEG Power and Össur India introduced their products and operations.

The Permanent Secretary of State, Mr Martin Eyjólfsson, stated that it was necessary for private companies to be able to operate in a healthy market economy and judicial system where companies could rely upon independent judiciary for arbitration. India, the largest democracy in the world, was the future field for Icelandic innovation. Iceland had a special knowledge to offer in the field of geothermal utilisation and fisheries.

The Invest India co-host, Vice President Varda Taneja, gave an overview of the economic situation in India, the economic growth and investments and said that India  and Iceland could cooperate in various fields. Invest India representatives introduced prospects and highlights in energy and fisheries.

The seminar, held at the Imperial Hotel, was attended by 50 representatives from various sectors, companies, Ministries and agencies, including representatives from the Oil and Natural Gas Company (ONGC), India Oil, the Ministry for New and Renewable Energy, Ministry of Petroleum and Natural Gas, Ministry of Fisheries,  hospitals, companies in the health sector and in fisheries.