India and Finland have agreed to deepen economic cooperation and explore opportunities to double bilateral trade by 2030, leveraging the proposed EU-India Free Trade Agreement (FTA). During talks in Helsinki, both countries identified digitalisation, sustainability, AI, 6G, semiconductors, space and defence as key areas for future collaboration.
Key Highlights
- India and Finland aim to double bilateral trade by 2030 through the proposed EU-India FTA.
- Piyush Goyal and Finland’s Deputy PM Riikka Purra discussed expanding trade and investment ties.
- AI, 6G, quantum technologies, semiconductors, space and sustainability emerged as priority sectors.
- Finnish companies have been encouraged to expand manufacturing and R&D investments in India.
New Delhi, July 18: India and Finland have agreed to strengthen their economic and strategic partnership, with both countries expressing confidence that the proposed European Union-India Free Trade Agreement (EU-India FTA) could help double bilateral trade by 2030. The discussions took place during Commerce and Industry Minister Piyush Goyal’s visit to Helsinki, where he held a series of high-level meetings with Finnish government leaders and industry representatives.
During his meeting with Finland’s Deputy Prime Minister and Finance Minister Riikka Purra, both sides explored ways to diversify trade, boost investments and expand cooperation in emerging technologies. According to reports, Purra said the combination of the India-Finland strategic partnership in digitalisation and sustainability, along with the proposed EU-India Free Trade Agreement, provides a strong foundation for significantly increasing bilateral trade over the next five years.
Riikka Purra highlighted Finland’s expertise in digital technologies, clean energy and sustainable solutions, noting that these strengths align closely with India’s rapid economic growth and Sustainable Development Goals (SDGs). She also expressed interest in expanding collaboration in space, defence and other critical technologies, describing India as a reliable long-term strategic partner.
Sharing details of the discussions on social media, Piyush Goyal said the two countries discussed strengthening economic and financial cooperation, enhancing trade and investment, and expanding collaboration in digitalisation and high-technology sectors. He later met Finland’s Minister of Economic Affairs Sakari Puisto, with the two leaders exploring opportunities in artificial intelligence (AI), 6G, quantum technologies, semiconductors, space technologies and sustainability.
Sakari Puisto emphasised that India’s rapidly expanding market presents significant opportunities for Finnish companies across both traditional industries and emerging technology sectors. He noted that closer economic engagement, supported by the proposed EU-India Free Trade Agreement, could create new business partnerships and investment opportunities for companies from both countries.
As part of his visit, Piyush Goyal also met senior executives of leading Finnish technology and industrial companies, encouraging them to expand manufacturing operations, research and development (R&D) centres, and export-oriented production in India. The outreach aligns with India’s broader objective of attracting global investments while strengthening its position as a manufacturing and innovation hub.
The growing partnership between India and Finland reflects a shared commitment to expanding trade, technology cooperation and sustainable development. With negotiations on the EU-India Free Trade Agreement progressing, both countries see significant potential to deepen economic ties and unlock new opportunities in advanced technologies and innovation-driven industries.
