India and Finland aim to double bilateral trade by 2030

India and Finland discussed strengthening economic and technology ties during meetings in Helsinki, with both sides expressing confidence that the proposed EU-India Free Trade Agreement could double bilateral trade by 2030 while expanding cooperation in AI, space, semiconductors and sustainability

New Delhi: India and Finland agreed to deepen economic ties and explore how a proposed EU‑India free trade agreement could double trade by 2030, a new report has said.

The report from Daily Finland said Finland’s Deputy Prime Minister and Finance Minister Riikka Purra and India’s Commerce and Industry Minister Piyush Goyal met in Helsinki and explored ways to diversify economic relations between both countries.

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“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,” Riikka Purra said after the meeting.

Purra mentioned Finnish strengths in digital and sustainable tech solutions that align with India’s growth and Sustainable Development Goals.

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

“We discussed strengthening economic and financial cooperation, enhancing trade and investment ties, and expanding collaboration in digitalisation and emerging sectors,” Goyal said in an X post.

Finland’s Minister of Economic Affairs Sakari Puisto also met with Goyal and said the minister’ visit to Finland underlined interest in many fields that are essential for India’s growth targets and the implementation of the EU-India Free Trade Agreement.

He highlighted the huge size of the Indian market which “offers plenty of potential for Finnish operators in both traditional and newer sectors and opportunities for cooperation with Indian companies.”

Goyal said his meeting with Puisto explored collaboration across AI, 6G, quantum technologies, semiconductors, space and sustainability.

Piyush Goyal also held a series of high-level meetings with leading Finnish technology and industrial companies in Helsinki on Friday, urging them to deepen their investments in India by expanding manufacturing, research and development (R&D) capabilities and increasing exports from the country.