New Delhi, Feb 28: Pointing out that India has emerged as a force to reckon with in Information Technology, Commerce Minister Kamal Nath yesterday (Feb 27, 2006) offered IT-enabled services to Iceland at competitive rates.
"We also offer pharmaceuticals, research and development, financial and accounting services and health care at competitive rates" Mr Kamal Nath told a trade delegation from Iceland, led by Education, Science and Culture Minister Ms Thorgerdur Katrin Gunnarsdottir.
He said the two countries must also initiate cooperation in some high technology areas that were Iceland's strength such as earthquake precursor studies, hydrogen energy, advanced fish processing and biotechnology.
He said India can also offer top quality products such as readymade garments, cotton made-ups and accessories, cotton yarn and fabrics, man-made fibres, drugs and pharmaceuticals, fine chemicals, and gems and jewellery.
"There is tremendous scope for a mutually beneficial economic and commercial engagement between India and Iceland in view of diverse economic strengths of the two countries", he said.
Indo-Icelandic bilateral relations have been warm and friendly, but lacking in substantive content, he said.
"Our trade has been negligible, barely 17 million dollars, completely in contrast to the warm political relationship we enjoy".