India and Finland are looking at strengthening deeper business and tech ties in the circular economy, as companies from both sides discussed various possibilities for sustainable and resource-efficient growth at a dedicated forum in New Delhi. The two-day conference presented a platform to policymakers, industry, and circular economy stakeholders to discuss different economic opportunities for India and Ireland’s evolving economic relationship.

Key highlights and leadership perspectives

According to the World Circular Economy Forum, circular economy is an all-encompassing approach wherein materials do not become waste and nature is renewed. It aids in addressing issues like climate change and others like biodiversity loss, waste, and pollution by detaching economic activities from the use of scarce natural resources.

The discussion sessions on the last day, Aug 21, were conducted under the broader theme of Harmonising Value Chains: The new India-EU Trade Era. The main goal of these discussions was to develop competitive and resilient value chains on a circular, traceable, efficient, and sustainable basis.

Antti Herlevi, Counsellor for Trade and Investments at the Embassy of Finland in New Delhi, noted the strategic significance of the collaboration. He explained that the circular economy is not just an environmental strategy, but an economic and industrial one.

As he pointed out, currently there are more than 100 Finnish companies in India working in various sectors including clean energy, waste management, recycling, digitization, and sustainable design. He emphasized the huge potential for increased cooperation with Indian partners. 

The Indian market is developing at a dynamic pace, and there are opportunities for Finnish companies to cooperate with local Indian enterprises in various industries, where complementary competencies and innovations can help local firms grow efficiently and sustainably.

The founder and Managing Director of the International Council for Circular Economy, Shalini Goyal Bhalla, said India was at a pivotal moment with its transition to a circular economy. She emphasized that the principles of circular economy must go beyond simple waste management. Rather, these principles need to be ingrained in product design, value chains, resource use, skills training, and new business models.

Corporate engagement and bilateral growth

The participants included Indian and Finnish companies who attended a specific B2B session to bridge the gap between discussions and economic outcomes. The session would look more closely at investment, technology, and commercial partnerships within the circular economy.

The other prominent companies that took an active part in the talks were Peikko, Nokia, Normet, Mirasys, and Lamor. On the Indian side, the participants consisted of Orbigreen Techsource, LoopM Alternatives, Re:Gen Collective, and Syaahi Uniforms.

When viewed within the context of the wider economic picture between the two nations, the discussions can have a significant impact. Trade relations between India and Finland witnessed an increase of nearly 25% on a yearly basis to reach $3.70 billion during the period 2025-26, based on information from the Ministry of Commerce & Industry. Trading in general witnessed a growth rate of nearly 38.5% in five years from $2.64 billion in 2021-22 to $3.65 billion in 2025-26.

The forum’s deliberations also took on significance considering the background of the India-EU Free Trade Agreement. This trade pact was finalized on January 27, thereby providing an increased preference for over 99% of Indian trade exports to the EU market. The agreement, however, is undergoing detailed legal examination and formal ratification processes and is not yet in force.

Conclusion

India Circular Economy Forum 2026 has effectively demonstrated how both countries are converging when it comes to sustainable industrial development. This event has also led to the organization of the World Circular Economy Forum 2026 in Gandhinagar, which is a collaborative effort by the Finnish innovation fund Sitra and the Central Pollution Control Board, and is being supported by the Ministry of Environment, Forest and Climate Change and the Government of Gujarat.