Iceland: A Strategic Gateway for Indian MSMEs

Link : Iceland: A Strategic Gateway for Indian MSMEs - Diplomatist

On the occasion of International MSME Day, the India SME Forum brought together policymakers, diplomats, and entrepreneurs to deliberate on global market access and innovation-driven growth. Speaking at the conclave, Rahul Chongtham, Commercial Counsellor at the Embassy of Iceland in India, offered compelling insights into why Iceland could be an attractive and strategic partner for Indian MSMEs looking to expand globally.

Location as Leverage

Rahul began by demystifying Iceland’s geography, often overlooked in Indian business circles. “Iceland is located in the mid-Atlantic, between two major markets—North America and Europe,” he explained, noting that all major European capitals are just 2 to 3 hours from Reykjavik

New Trade Architecture: TEPA and EEA

One of the key highlights of his address was the focus on two strategic trade agreements that offer Indian companies unparalleled access to European and transatlantic markets. He added that under TEPA, 99.6% of India’s exports to EFTA countries and over 95% of EFTA’s exports to India are now tariff-free or preferentially treated, creating real, accessible opportunities for SMEs.

Green Energy and Climate Collaboration

Turning to Iceland’s sustainability story, Rahul spoke with conviction about the island nation’s expertise in Renewable Energy, Carbon Capture: Turning Emissions into Opportunity, Innovation and Startups: A Natural Synergy, Tourism and Film: A Natural Set for Cinematic India, Sustainable Fisheries and the 100% Fish Model, Looking Ahead: An Invitation for Collaboration.