New Delhi: India and Finland are looking to deepen business and technology partnerships in the circular economy as companies from both countries explored opportunities for resource-efficient and sustainable growth at a forum in New Delhi.
The concluding day of the two-day India Circular Economy Forum (ICEF) 2026, which focused on Finland, on Friday, August 21, brought together policymakers, businesses and circular economy experts to discuss opportunities arising from the evolving India-EU economic relationship, according to an official statement.
Held from August 20 to 21, the 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.
The WCEF defines a circular economy as a system where materials never become waste and nature is regenerated. It helps tackle climate change and other global challenges, like biodiversity loss, waste and pollution, by decoupling economic activity from the consumption of limited resources.
Friday’s discussions, held under the theme “Harmonising Value Chains: The new India-EU Trade Era”, focused on building competitive and resilient value chains through circularity, traceability, resource efficiency and sustainable business practices.
Antti Herlevi, Counsellor for Trade and Investments in 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.
“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,” Herlevi said.
Indian and Finnish companies also participated in a dedicated business-to-business session aimed at developing investment, technology and commercial partnerships in the circular economy.
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.
Shalini Goyal Bhalla, founder and managing director, International Council for Circular Economy, said, “India is at an important point in its circular economy transition.”
She said circular economy principles needed to move beyond waste management and become part of product design, value chains, resource use, skills development and new business models.
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.
India’s bilateral trade with Finland rose about 25 per cent year-on-year to USD 3.70 billion in 2025-26. Overall trade grew around 38.5 per cent over five years, from USD 2.64 billion in 2021-22 to USD 3.65 billion in 2025-26, according to Indian government data.
Friday’s discussions assumed significance against the backdrop of the India-EU Free Trade Agreement (FTA), whose negotiations were concluded on January 27, with the agreement opening preferential market access for more than 99 per cent of Indian merchandise exports to the EU.
However, the FTA is currently undergoing legal review and formal ratification procedures and has not come into force.
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