A delegation of Icelandic business people on an official visit to India met last week with the Indian Finance Minister, Mr. P Chidambaram. The minister encouraged Icelandic investment in India, particularly in its growing infrastructure.
“India needs an investment of $475 billion in infrastructure in the next five years to support nine percent growth of which $120-130 billion will come from foreign investment,” Mr. Chidambaram told the business delegation on Friday.
“Thus the opportunity is immense in terms of business potential and investment,” he concluded.
The 45 member delegation from Iceland included heads of companies working mainly in the fields of energy and finance.
“Energy is one of our main resources and we are focusing on investing in these sectors in India,” said Icelandic Finance Minister, Arni Mathiesen, who accompanied the delegation.
India’s main exports to Iceland currently include industrial machinery and equipment, cereals, textile yarns, clothing and clothing accessories. From Iceland, India’s main imports include cod, petroleum products, medical products, cement additives, rubber, and plastic products.
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