The 10th World Circular Economy Forum (WCEF) was recently held in Gandhinagar, Gujarat. Mikko Kivikoski, Finland’s Ambassador to India, felt India was an ideal place to host such meetings; like in Finland, Indians also like to reuse old things, which is good for the environment.
“There were close to 3,000 participants in the WCEF, which included India, Finland and other countries,” said Kivikoski, while talking to Business India. “There were lots of discussions on sustainability and circularity. India and Finland both have been reusing and recycling things for use”.
Business-wise also, circular economy is beneficial for everybody. “I left Gandhinagar with a lot of optimism,” Kivikoski added. As an energy mix, India is looking at renewable energy and also considering waste-to-energy production, as is operational in Finland. “With the volatility of oil in the international market, it will be prudent to not rely on fossil fuels and consider alternative energy sources,” he cautioned. “MoUs have been signed between India and Finland on waste-to-energy production”.
Bilateral trade between India and Finland stands at $3 billion at present. However, by 2031, when the India-EU FTA comes into effect, “our bilateral trade will double,” the ambassador assured. “There is a migration and mobility partnership between India and Finland. There are over 30,000 Indians in Finland, mostly in the IT sector.” It was the energy and vibe prevalent in India that he liked the most.
The India-European Union free trade agreement (FTA) is a promising foundation for closer commercial relations. Negotiations concluded in January, with the agreement expected to be signed in Brussels in December. It is expected to come into force in early 2027, subject to European Parliament approval.
For Finland, Kivikoski added, the challenge now was to turn the political agreements into commercial activity. “As an ambassador of Finland, my main task will be to turn this political framework into concrete actions.” He assured that Finland wanted to see more companies enter the Indian market, involving greater investment between the two countries. According to him, there was considerable room to expand the level of bilateral business.
Areas for co-operation
The ambassador also highlighted the possibility of co-operation in sectors ranging from space and satellite communications to artificial intelligence (AI) and advanced digital infrastructure. One area Finland sees as particularly promising is sovereign satellite communications. Kivikoski described Finland’s satellite communications capabilities as ‘dual-use’ – technology that can serve civilian as well as defence and security purposes, including border security, emergency services and disaster response. The emphasis reflects Finland’s broader shift towards security co-operation since Russia’s invasion of Ukraine and Helsinki’s subsequent decision to join NATO in 2023.
Digital technology is another area where Finland sees significant scope for closer co-operation. The two countries have elevated their relationship to a strategic partnership in digitalisation; Kivikoski affirmed that Finland wanted to build on that framework through co-operation in areas such as 5G and 6G networks, AI, quantum technologies, data centres and cyber-security.
“Cyber-attacks are now occurring regularly, both in India and Finland,” Kivikoski remarked, adding that the frequency of cyber threats created considerable room for collaboration. Both countries are developing AI capabilities and expanding data-centre infrastructure, he observed, making data security and resilient communications networks increasingly important. For Finland, the co-operation also offers an opportunity to connect its technological expertise with one of the world’s largest and fastest-growing digital markets.
Kivikoski described India as an important player in maintaining international security and resolving conflicts, while backing New Delhi’s bid for a permanent seat on the UN Security Council.
“India plays an important role in maintaining international security,” Kivikoski said, citing India’s position as the world’s largest democracy and a leading voice of the Global South.
Finland valued its dialogue with New Delhi on the war in Ukraine as well as other conflicts, including those in West Asia and Sudan.
“All of these conflicts have global consequences and impacts, and we want these conflicts to end,” he said, while appreciating India’s efforts towards ending conflicts.
On Ukraine, Kivikoski said Finland believed that all stakeholders except Russia wanted the war to end and negotiations to begin, but Moscow had so far not demonstrated a willingness to do so. Finland joined NATO following Russia’s invasion of Ukraine and continues to view the conflict primarily through the prism of its own national security.