Finland, India vow to boost bilateral trade, investment

Finance Minister Riikka Purra and visiting Indian Commerce and Industry Minister Piyush Goyal on Thursday met in Helsinki and discussed ways to strengthen bilateral economic ties and exploring how the proposed Free Trade Agreement (FTA) between the EU and India could further boost trade and investment between the two countries.

“I am very pleased that Finland and India will further diversify their economic relations. The strategic partnership between the two countries on digitalisation and sustainability, together with the Free Trade Agreement between the EU and India, will make it possible to double our trade by 2030,” said Purra after the meeting.

Pointing out the world-class digital and sustainable solutions developed by technology companies in Finland, she said that the operations of number of companies are also very well in line with India’s growth targets and the Sustainable Development Goals, according to a government press release.

“I hope that, as reliable partners, we can further deepen our cooperation in fields such as space, defence and other critical technologies,” Purra said.

In a post on X, Goyal said he met Finland's Deputy Prime Minister and Minister of Finance Riikka Purra and discussed strengthening economic and financial cooperation between the two countries, reported ANI.

"Pleased to meet Finland's Deputy Prime Minister and Minister of Finance, Ms. Riikka Purra. We discussed strengthening economic and financial cooperation, enhancing trade and investment ties, and expanding collaboration in digitalisation and emerging sectors," Goyal said.

He added that both sides "also explored opportunities to further deepen India-Finland engagement under the India-EU FTA."

The Indian Minister also held a bilateral meeting with Minister of Economic Affairs Sakari Puisto.

“Minister Goyal's visit to Finland shows their interest in many fields that are essential for India's growth targets and the implementation of the EU-India Free Trade Agreement. We have world-class expertise in 5G and 6G technology, semiconductor and space technology, clean energy and environmental technology, and the use of artificial intelligence,” said Puisto.

He said that the Indian market is very big and offers plenty of potential for Finnish operators in both traditional and newer sectors and opportunities for cooperation with Indian companies. These include opportunities for the Finnish food sector and its innovations in India, said the government press release.

“We will further strengthen our trade relations, and recently the exchange of visits between our countries has been particularly active,” Puisto added.

In a separate post on X, Goyal said he held "productive discussions" with Finland's Minister of Economic Affairs Sakari Puisto on expanding cooperation across several high-growth sectors, reported ANI.

"Had productive discussions with Finland's Minister of Economic Affairs, Mr. Sakari Puisto. We discussed ways to deepen India-Finland cooperation in investments, innovation, R&D, startups and business partnerships," the minister said.

Goyal said the discussions also covered collaboration in emerging technologies and strategic sectors.

"We also explored collaboration across AI, 6G, quantum technologies, semiconductors, space and sustainability, while discussing how the India-EU FTA can further strengthen trade and investment between our countries," he said.

On Friday, Goyal will visit leading Finnish technology and innovation organisations such as Nokia, VTT Technical Research Centre of Finland, KONE and Kemppi Group.