Narendra Modi on Thursday said India and Finland are working to elevate their ties into a strategic partnership focused on digitalisation and sustainability, with cooperation spanning advanced technologies such as artificial intelligence, 6G telecommunications, clean energy and quantum computing.
Speaking after bilateral talks with Finnish President Alexander Stubb at Hyderabad House in New Delhi, the Prime Minister said collaboration in high-tech sectors would give new direction and momentum to relations between the two countries.
"We are shaping India-Finland relations into a strategic partnership in digitalisation and sustainability. This partnership, from AI to 6G telecom, from clean energy to quantum computing, will give momentum and energy to our cooperation in many high-tech areas," Modi said.
He also highlighted that the recently concluded India–European Union Free Trade Agreement would further strengthen trade, investment and technology cooperation between India and Finland.
The two leaders held detailed discussions on expanding cooperation across several sectors, strengthening economic engagement, and coordinating on regional and global issues. Prime Minister Modi also hosted a lunch in honour of President Stubb after the talks.
Earlier in the day, External Affairs Minister S. Jaishankar met the Finnish President and discussed bilateral ties ahead of the Prime Minister's meeting. Stubb is also scheduled to deliver the keynote address at the Raisina Dialogue during his visit.
Trade ties gain momentum
Bilateral trade between India and Finland has also shown strong growth. According to a report by Rubix Data Sciences, trade between the two countries rose 19 per cent in April–December of FY26 compared to the same period last year, signalling a new phase of momentum and structural realignment.
India's exports to Finland have been a key driver of the growth, rising 11 per cent year-on-year during the period. Outbound shipments from India increased from $300 million in FY22 to $600 million in FY24, while imports — largely stable at $800–900 million between FY22 and FY25 — surged 24 per cent year-on-year in FY26 due to stronger demand for Finnish industrial and technology inputs.
As a result, India's trade deficit with Finland has narrowed to $300–400 million in recent years, creating a more balanced trade relationship.
The report also noted a structural shift in India's export basket. Heterocyclic compounds rose sharply from 1 per cent to 28 per cent of exports, becoming the largest category, while passenger and cargo vessels accounted for 10 per cent. Pharmaceutical exports moderated from 18 per cent to 12 per cent.
On the import side, nitrogen fertilisers remained the largest category but declined from 28 per cent to 19 per cent, reducing commodity concentration. Electronic integrated circuits held steady at 15 per cent, while electrical transformers increased from 3 per cent to 5 per cent. Chemical wood pulp also expanded from 1 per cent to 4 per cent, reflecting growing industrial linkages.
Finland currently accounts for about 1 per cent of India's total goods trade with the European Union, but the strong growth in FY26 and the narrowing deficit suggest the relationship is becoming more technology-driven, balanced and strategically aligned.
(With inputs from IANS)
