Estimated reading time 2 min

The economic growth of India and the high technology of Finland make each country a land of opportunity for the other

A Sitra report encourages deepening Finnish-Indian economic co-operation. The Prospects for India-Finland Economic Cooperation report produced by Sitra’s India Programme surveys business areas which Indian researchers see as offering increasing potential for mutually beneficial economic co-operation.

Published

A Sitra report encourages deepening Finnish-Indian economic co-operation

The Indian markets, growing at record rate, are raising interest in Finland. The Prospects for India-Finland Economic Cooperation report produced by Sitra’s India Programme surveys business areas which Indian researchers see as offering increasing potential for mutually beneficial economic co-operation.

“If Finnish companies wish to enter the Indian markets, the time to act is now,” says Vesa-Matti Lahti, the Head of Sitra´s India programme.

The report reveals that both the high-technology Finland and the fast-growing India have sectors, the exploitation of which could bring considerable benefits to both countries.

“There are co-operation and business opportunities in many different industries. Particularly interesting examples among those mentioned in the report are the refrigerated transport of foodstuffs, and storage, packaging and industrial environmental technology. In addition, several lines of production need to renew these technologies,” says Vesa-Matti Lahti.

There is a call for new openings both in Finland and India

The report was jointly drawn up by Sitra and an Indian research institute, the National Council of Applied Economic Research. Its authors were Shashanka Bhide, Dripto Mukhopadhyay and Divjot Singh. The recommendations in the report are mainly based on interviews of Indian economic decision-makers and economists.

They were asked to analyse industry, trade and investments, and to identify areas benefiting both India and Finland.

In particular, the report surveys the clothing industry, the food industry, environmental technology, telecommunications, the chemical industry, the manufacture of cement and steel, and car manufacture and technology. With regard to each industry, the aim has been to discover opportunities both for Finland and India. These opportunities are summarised in the table appended to this press release.

“The sectors studied in this report are growing sectors in India and Indians consider them to be important. The report takes a wider view of Indian markets and recognises new opportunities in industries that have been previously somewhat overlooked,” says Vesa-Matti Lahti.

Appendix: Table for assessing the economic cooperation between Finland and India (pdf-file)

Further information

Vesa-Matti Lahti, Research Manager India Programme, Sitra Tel. +358 50 387 3188 vesa-matti.lahti@sitra.fi, www.sitra.fi

Dr. Shashanka Bhide, National Council of Applied Economic Research (NCAER) Tel. +91 011 2337 98613 sbhide@ncaer.org, http://www.ncaer.org/

Publication details

Prospects for India-Finland Economic Cooperation Shashanka Bhide, Dripto Mukhopadhyay, Divjot Singh Sitra Reports 62, Edita Prima Ltd. Helsinki 2006

You may order the report from Sitra, tel. +358 (9) 618 991, e-mail: julkaisut@sitra.fi. The report is also available on Sitra’s website under Publications »

Published