India-Finland Relations

India-Finland Relations

News: Recently, Finland’s Minister of Economic Affairs met India’s Union Minister of State Science and Technology.

Outcomes:
•  India is keen to develop research collaborations with Finnish R&D institutions and technology collaboration with Finnish Industry especially focusing on the following technology domains and application of Quantum Computing in areas such as sustainable energy technologies, Water and Marine technologies, Food and Agritechnologies, affordable healthcare, bio-based economy, bio-banks and bio-based materials.
• The Department of Science and technology has initiated several new mission mode programs like EV’s, cyber-physical systems, quantum technologies, green hydrogen fuel and sought joint collaboration with Finland in solving issues of societal challenges.
• Assurances were given by Finnish minister regarding partnership with India for Carbon-neutral technologies and enhance cooperation for sustainability in climate change.
• The Finnish Minister also invited India to explore the possibility of deeper cooperation in Finland’s Biobank project to mediate high-quality human samples for medical research to promote the development of new products and services that promote public health.

About India-Finland Ties:
• In recent years, bilateral relations have acquired diversity with collaboration in research, innovation, and investments by both sides. 2019 marked 70 years of diplomatic relations between the two countries.
• Finland sees India as a market for its products and a favourable investment destination for its high technology industries. India views Finland as an important member of the European Union and a repository of modern technology.
• India and Finland have strong bonding in Science, Technology and Innovation. IMD and Finnish Meteorological Institute (FMI) have been cooperating in the field of atmospheric environment since 2014.
• Under such collaborations, Air Quality Forecasting Models developed by FMI are customized for the Indian region resulting in enhanced capability to forecast pollution events.
• Finland is a major player in 5G/6G technology and top IT companies in India are looking for increasing collaboration.
• In 2020, India’s total trade (goods and services) with Finland was USD 2.3 billion which is in India’s favour. Finland’s top imported goods from India (Jan-Dec 2020) include medicinal, pharmaceutical products, articles of apparel and clothing accessories, metals, textile yarns and electric machinery parts.
• India’s imports from Finland include machinery for special industries, paper and paperboard articles, metal scrap, electric machinery and parts.
• There are several Indian dance and Yoga schools in Finland too.