India-Finland Boost Circular Economy Ties: Trade Hits $3.7B

India and Finland are strengthening their business and technology partnerships, focusing on the circular economy, following recent discussions at the India Circular Economy Forum (ICEF) 2026. This initiative aims to foster resource-efficient and sustainable growth between the two nations.

The ICEF 2026, held from August 20 to 21, specifically highlighted Finland’s role, bringing together policymakers, businesses, and experts. Discussions centered on opportunities emerging from the evolving economic relationship between India and the European Union.

Upcoming Global Forum in Gandhinagar

This forum served as a precursor to the 10th World Circular Economy Forum (WCEF) 2026, set to take place in Gandhinagar from September 15 to 18. This marks the first time the WCEF will be hosted in South Asia.

The WCEF 2026 is jointly organized by the Finnish innovation fund Sitra and the Central Pollution Control Board. Support comes from the Ministry of Environment, Forest and Climate Change, the Gujarat government, and other global and Indian partners.

Its objective is to identify practical strategies for businesses to enhance resource efficiency and strengthen ESG performance. The forum also aims to develop new growth opportunities as India expands its role in global value chains.

Economic Imperative for Circularity

Antti Herlevi, Counsellor for Trade and Investments at the Embassy of Finland in New Delhi, emphasized the broad scope of this approach. He stated, “Circular economy is not just an environmental agenda; it is an an economic and industrial one.”

Herlevi noted that over 100 Finnish companies are already active in India across various sectors. These areas include clean energy, waste management, recycling, digital solutions, and sustainable design, indicating significant potential for increased collaboration.

He further added, “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.” This underscores the mutual benefits of such partnerships.

Participating Industry Leaders

Finnish firms participating in the discussions included Peikko, Nokia, Normet, Mirasys, and Lamor. Indian companies involved were Orbigreen Techsource, LoopM Alternatives, Re:Gen Collective, and Syaahi Uniforms.

Key Trade Figures

India’s bilateral trade with Finland rose by approximately 25% year-on-year, reaching $3.70 billion in 2025-26. Overall trade increased by around 38.5% over five years.

This growth saw trade move from $2.64 billion in 2021-22 to $3.65 billion in 2025-26, according to Indian government data.

These growing economic ties and the focus on circular economy principles aim to position both nations for more sustainable development. The upcoming WCEF in Gandhinagar is expected to further solidify these collaborative efforts, shaping India’s future role in global economic value chains.