Iceland’s FM taps geothermal potential in Ladakh, Himachal for direct air connectivity

NEW DELHI: The Foreign Minister of Iceland, Bjarni Benediktsson, emphasized on Monday that the two countries, India and Iceland, are collaborating closely on tapping geothermal energy in Ladakh and Himachal Pradesh.

Speaking with ANI in an interview, the foreign minister also revealed details and progress of the collaborative endeavours and underlined that the geothermal possibilities in that area are being explored, wells are being drilled and he hoped that Icelandic experts who are cooperating with Indians at the moment will assist them in succeeding in building new power plants.

“These are examples of cooperation, which relies on the expertise that has been built over time in Iceland in the geothermal projects that we have successfully concluded in recent decades. So, to speak, there is also cooperation historically concerning hydropower. But at the moment it is the geothermal possibilities in that area that are being explored so wells are being drilled. And we hope that Icelandic experts that are cooperating with Indians at the moment will assist them in succeeding in building new power plants because this is green energy that is needed in India and the world”, said the Foreign Minister.

Geothermal energy is heat derived within the sub-surface of the earth.

Water and/or steam carry the geothermal energy to the Earth’s surface. Depending on its characteristics, geothermal energy can be used for heating and cooling purposes or be harnessed to generate clean electricity.

Notably, last year while addressing the India-Nordic Baltic Conclave, External Affairs Minister S Jaishankar in his opening address spoke about similar projects being planned for Northeast India.

“India and Iceland are working closely on harnessing geothermal energy in Ladakh and Himachal Pradesh. Similar projects are being planned for Northeast India. Efforts are on to establish a centre for excellence in cold and warm water fisheries,” said EAM Jaishankar.

Expressing optimism about the ‘direct air connectivity’ between the two countries, Benediktsson remained ‘hopeful’ of it commencing and said that this remains an issue that he is ‘excited’ to explore.

“Well, that’s another issue that is exciting to explore. I know in the past from operators in Iceland, they have actively been exploring those opportunities and no doubt that has also been explored directly from the India side. I am very confident that day will come, when I will visit India through direct flight”, said the Minister.

Opening up on the recently signed TEPA agreement, the minister stated it as ‘historic’ and said that we are connecting with the fastest-growing economy and huge opportunities will be unveiled once businesses start taking advantage of the agreement signed.

“It is historic. From the Indian side, it is seen as the first free trade agreement with Europe. From the EFTA side, we are connecting with the fastest-growing economy and huge opportunities will be unveiled once businesses start taking advantage of the agreement signed”.

He added, “The sectors which are likely to benefit, are in Iceland’s case, anything related to fisheries & other industries. We hope that on a more general basis, the two countries will grow closer. Tourism and other businesses can follow. In the energy sector, there are already projects that may benefit.”

Union Commerce Minister Piyush Goyal co-chaired the meeting on the India-EFTA trade agreement in the national capital on Sunday.

He said that “never before in the history of FTAs has such an FTA ever happened” adding that it is very balanced, fair and equitable.

Goyal said that it is a momentous occasion and the signing of the Trade and Economic Participation Agreement with the European Free Trade Association marks the culmination of nearly 15 years of hard work, tremendous energy, and effort.

Prime Minister Narendra Modi on Sunday congratulated the negotiators and signatories on the signing of the Trade and Economic Participation Agreement (TEPA) between India and the European Free Trade Association (EFTA), saying that despite structural diversities in many aspects, “Our economies possess complementarities that promise to be a win-win situation for all nations.”

In a letter, PM Modi said that March 10, 2024, marks a new turn and a watershed moment in the bilateral relationship between India and the EFTA countries of Switzerland, Norway, Iceland and Liechtenstein.

Further, underscoring how Iceland supports India’s bid for a permanent seat at UNSC, the foreign minister said that the Nordic island nation ‘will continue to be very supportive’ and that ‘India’s should have a seat at the table are some of the largest democracy in the world’.

Notably, Iceland was the first Nordic country to publicly extend support to India’s candidature for permanent membership of the United Nations Security Council (UNSC).

On the India-Iceland cultural ties and breathtaking locations in Iceland, the minister also spoke about ‘Indian filmmaking’ and revealed that he is building more infrastructure to accommodate such filmmaking.

“The expertise is also being built up through active participation in the industries in Iceland. We have recent examples of projects that have been concluded and shown on Netflix or other other sets of platforms. So, I just want to say that this industry is growing in Iceland. We are open for business so any interest from India is more than welcomed and hopefully, that will promote increased tourism and that will also hopefully lead to increased businesses on from both sides,” said the minister.

Icelanders evince interest in Indian culture, especially yoga, films and food. Many Icelanders visit India for tourism, with Kerala and Pondicherry being their favourites. There is a bilateral cultural agreement in place. Film and food festivals, as well as cultural programs, have been held in Reykjavik.

Several Indian films, including the entire song “Gerua” from the Shah Rukh Khan-Kajol starrer “Dilwale” have been filmed in Iceland.

India and Iceland have, despite the distance and contrast in population size, reached out to each other to build friendships based on shared values and mutual interests. Iceland was one of the countries co-sponsoring India’s resolution at the UN to declare June 21 as the “International Day of Yoga.

Bilateral Trade figures have moved from USD 26.51 million in 2013-14 to a low of USD 13.30 million in 2017-18, to pick up again to USD 39.49 million in 2018-19 Items imported from Iceland are mainly cod-liver oil & other fish products, medicines, aluminium products, ferrosilicon. Items exported from India are organic chemicals, apparel & accessories, textile yarn, cereals & cereal products, and miscellaneous manufactured items.