For Indian citizens planning a trip to Iceland, a Schengen tourist visa is indeed required, allowing for a single entry and a maximum stay of 90 days. You'll find that the application fee is typically €80, a standard rate for Schengen visa applications, though it's wise to confirm current pricing closer to your travel dates. Given Iceland's stunning natural beauty, many travelers opt for flights connecting through major European hubs like Amsterdam or Frankfurt before reaching Keflavík International Airport, making a layover a common and practical part of the journey. Remember that when it comes to currency, Iceland uses the Icelandic Króna (ISK), which is a departure from India's Rupee, so currency exchange will be a necessary consideration for your expenses.