The India-EFTA Trade and Economic Partnership Agreement (TEPA), in force since October 2025, has deepened India-Iceland ties. Ambassador Benedikt Höskuldsson highlighted growth in tourism, seafood, and marine investment, plus emerging cooperation in geothermal energy and carbon capture. Iceland brings decades of experience in both fields, which could help India cut emissions in hard-to-abate sectors like steel and cement. Geothermal technology may be applied in northern India and Himalayan regions, while carbon capture and storage in basalt rock formations and e-methanol production are being explored. The agreement provides a framework for cleaner industrial growth and stronger bilateral economic links.
