PM Modi discusses India-EFTA trade pact, clean energy, blue economy ties with Iceland PM at Nordic Summit

Prime Minister Narendra Modi on Tuesday held talks with Iceland Prime Minister Kristrún Frostadóttir on the sidelines of the India-Nordic Summit in Oslo, with discussions focusing on strengthening bilateral cooperation in clean energy, fisheries, sustainability and emerging technologies.

In a post on X, Modi said, “I had a good meeting with the Prime Minister of Iceland, Kristrún Frostadóttir. India greatly values its friendship with Iceland. We discussed ways to strengthen cooperation between the aforementioned countries in various fields such as clean energy, fisheries, sustainability, geothermal energy, carbon capture and storage, and more.”

“Iceland's outstanding achievements in areas related to the blue economy are admirable. We hope that the historic trade and economic agreement between India and EFTA (TEPA) will also enhance trade and investment ties between the countries,” he added.

The meeting assumes significance as India seeks to deepen economic and strategic engagement with Nordic countries through collaborations in renewable energy, climate technologies and maritime sectors. The India-Nordic Summit, attended by the leaders of Norway, Denmark, Finland, Iceland and Sweden, builds on earlier editions held in Stockholm in 2018 and Copenhagen in 2022.

India-EFTA pact takes centre stage

Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal said the two leaders discussed a broad range of bilateral issues, including “renewable energy, trade and investment, innovation, digital technologies, the creative economy, Arctic cooperation and people-to-people exchanges”.

The discussions also centred on opportunities arising from the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement, which is expected to strengthen economic engagement between India and EFTA member countries, including Iceland.

According to officials, the two sides also exchanged views on regional and global issues of mutual concern during the meeting held as part of the broader India-Nordic Summit engagements in Norway.

Green energy, Arctic cooperation gain traction

The talks additionally reviewed cooperation in sectors such as geothermal energy, fisheries, tourism, mobility and innovation, where Iceland is viewed as possessing strong technological expertise despite its relatively small economy.

India has increasingly sought partnerships with Nordic countries in areas linked to sustainability, green shipping, carbon capture, digital infrastructure and climate resilience as New Delhi diversifies its strategic and technology partnerships beyond traditional markets.

The Iceland meeting came amid Modi’s ongoing multi-nation diplomatic tour across Europe and West Asia, during which India also elevated ties with Norway to a “Green Strategic Partnership” focused on clean energy and sustainable growth.