In recent years, main focus of research on image retrieval techniques is on content-based image retrieval. Text-based image retrieval schemes, on the other hand, provide semantic support and efficient retrieval of matching images. In this paper, based on Formal Concept Analysis (FCA), we propose a new image indexing and retrieval technique. The proposed scheme uses keywords and textual annotations and provides semantic support with fast retrieval of images. Retrieval efficiency in this scheme is independent of the number of images in the database and depends only on the number of attributes. This scheme provides dynamic support for addition of new images in the database and can be adopted to find images with any number of matching attributes.