India and Finland Explore Circular Economy Partnerships at New Delhi Forum

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 two-day forum in New Delhi.

The concluding day of the India Circular Economy Forum (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, according to an official statement.

Held from August 20 to 21, the ICEF 2026 served as 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. The framework aims to help tackle climate change and other global challenges, such as biodiversity loss, waste, and pollution, by decoupling economic activity from the consumption of limited resources.

Discussions on Friday were held under the theme 'Harmonising Value Chains: The new India-EU Trade Era'. The sessions 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, noted that the circular economy is an economic and industrial agenda rather than purely an environmental one. He stated that more than 100 Finnish companies are already active in India across sectors including clean energy, waste management, recycling, digital solutions, and sustainable design, adding that there is scope for greater cooperation with Indian partners.

As the Indian market continues to grow rapidly, Herlevi said there is a significant opportunity for Finnish businesses to work alongside local partners across a range of fields, combining expertise and innovation to support resource-efficient and sustainable growth.

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 sector. Participating Finnish companies included Peikko, Nokia, Normet, Mirasys, and Lamor, while 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 of the International Council for Circular Economy, noted that India is at an important point in its circular economy transition. She stated that circular economy principles need to move beyond waste management to 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.

Bilateral trade between India and Finland rose about 25 per cent year-on-year to $3.7 billion in 2025-26. Overall trade grew around 38.5 per cent over five years, from $2.64 billion in 2021-22 to $3.65 billion in 2025-26, according to Indian government data.

Friday’s discussions also took place against the backdrop of the India-EU Free Trade Agreement (FTA), whose negotiations were concluded on January 27. The agreement opens preferential market access for more than 99 per cent of Indian merchandise exports to the EU, though the FTA is currently undergoing legal review and formal ratification procedures and has not yet come into force.

"The growing trade and collaboration between Indian and Finnish companies in the circular economy sector highlight a strategic shift toward resource efficiency and sustainability. As bilateral trade expands and global platforms like the World Circular Economy Forum approach, businesses that integrate sustainable design, waste management, and green technologies into their core operations will find strong growth opportunities and long-term value in evolving international markets." — Dr. Shishir Gupta, Founder & CEO, StartupLanes