With an aim of strengthening bilateral trade, India and Finland are eyeing to deepen business and technology partnerships in the circular economy, as companies from both countries explored opportunities for resource-efficient and sustainable growth at the India Circular Economy Forum (ICEF) 2026. The concluding day of the two-day (from August 20 to 21) ICEF 2026, which focused on Finland, brought together policymakers, businesses and circular economy experts to discuss opportunities arising from the evolving India-EU economic relationship. ICEF 2026 was a precursor to the World Circular Economy Forum (WCEF) 2026, which will be held for the first time in South Asia, in Gandhinagar, from September 15 to 18.
Antti Herlevi, Counsellor for Trade and Investments at the Embassy of Finland in New Delhi, said “Circular economy is not just an environmental agenda; it is an economic and industrial one.” He said more than 100 Finnish companies were already active in India across sectors such as clean energy, waste management, recycling, digital solutions and sustainable design, and that there was scope for greater cooperation with Indian partners. He also said, “As the Indian market continues to grow rapidly, there is a significant opportunity for Finnish businesses to work alongside local partners in India across a range of fields, combining expertise and innovation to support resource-efficient and sustainable growth.” Finnish companies, including Peikko, Nokia, Normet, Mirasys and Lamor, and Indian firms such as Orbigreen Techsource, LoopM Alternatives, Re:Gen Collective and Syaahi Uniforms, took part in the discussions.
The 10th edition of the WCEF in Gandhinagar will be jointly organised in September by Finnish innovation fund Sitra and the Central Pollution Control Board, with support from the Ministry of Environment, Forest and Climate Change, the Gujarat government, and other global and Indian partners. The forum aims to identify practical strategies to help businesses improve resource efficiency, strengthen environmental and ESG performance, and develop new growth opportunities as India expands its role in global value chains. According to Indian government data, India’s bilateral trade with Finland rose by about 25 per cent year-on-year to $3.70 billion in 2025-26. Overall trade grew by around 38.5 per cent over five years, from $2.64 billion in 2021-22 to $3.65 billion in 2025-26.
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