New Delhi: Finland placed its trade and technology offer to Indian industry at the centre of the second day of the India Circular Economy Forum 2026 (ICEF2026) in New Delhi. The day was run under the theme "Harmonising Value Chains: The new India-EU Trade Era", and served as a precursor to the World Circular Economy Forum 2026, which comes to Gujarat next month.
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Dr Antti Herlevi, Counselor for Trade and Investments (Water, Forest and Circular Economy) at the Embassy of Finland in New Delhi, put the pitch in commercial rather than environmental terms.
"Circular economy is not just an environmental agenda; it is an economic and industrial one," Herlevi said. "Finland has a long history of developing circular solutions, and more than 100 Finnish companies are already active in India across sectors including clean energy, waste management, recycling, digital solutions and sustainable design."
He said Finnish firms saw room to work through Indian partners rather than alone. "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," he said.
Herlevi tied that to material demand. "In a world of rising material demand and increasing pressure on resources, our shared experience and technologies can help advance circular solutions that retain value, reduce resource use and contribute to a more sustainable future," he said.
Peikko, Nokia, Normet, Mirasys and Lamor were among the Finnish companies at the discussions. Indian participants included Orbigreen Techsource Private Limited, LoopM Alternatives, Re:Gen Collective and Syaahi Uniforms. A dedicated business-to-business session was held to connect Finnish suppliers with Indian firms.
The forum's organisers said the discussions covered collaboration, investment and technology partnerships, and were aimed at helping companies meet environmental compliance requirements and improve ESG and circularity performance.
India and the European Union announced the conclusion of Free Trade Agreement negotiations on January 27, in a joint announcement by Prime Minister Narendra Modi and European Commission President Ursula von der Leyen. The full text was published in late February.
The agreement has not been signed or ratified, and has not entered into force.
On the Indian side, inter-ministerial consultations, a legal and political review by the Ministry of External Affairs and Cabinet endorsement remain before signature. On the EU side, the Council must authorise signature, the European Parliament must give its approval, and the Council must then formally conclude the agreement. Because the agreement was negotiated within the EU's exclusive competence, it does not require separate ratification by each of the 27 member states.
Entry into force is expected early in 2027. The commerce ministry has said the agreement gives preferential market access to more than 99 percent of Indian exports by trade value, with about USD 33 billion of labour-intensive exports moving to zero tariff when it takes effect. Bilateral goods trade stood at USD 136.54 billion in 2024-25.
Shalini Goyal Bhalla, Founder and Managing Director of the International Council for Circular Economy (ICCE), said the scope of the transition had to widen. "India is at an important point in its circular economy transition. Circularity can no longer remain limited to waste management; it must become an integral part of how we design products, build value chains, use resources, develop skills and create new business models," Bhalla said.
She said ICCE's work had focused on translating principles into outcomes. "At ICCE, our focus has consistently been on bridging policy, industry, knowledge and implementation so that circular economy principles translate into measurable economic, environmental and social value," she said.
Bhalla linked the forum to India's manufacturing push. "As India strengthens its manufacturing capabilities and global partnerships, embedding resource efficiency, innovation and circular design into our growth story will be critical to building a more competitive, resilient and sustainable economy," she said.
The World Circular Economy Forum 2026 will be held in Gandhinagar from September 15 to 18. It is the tenth edition of the forum, and the first to be held in India and in South Asia.
WCEF2026 is being organised jointly by the Finnish Innovation Fund Sitra and the Central Pollution Control Board, supported by the Ministry of Environment, Forest and Climate Change, in coordination with the government of Gujarat. In-person attendance is by invitation. Online participation is open and free.
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The India Circular Economy Forum is an annual platform convening industry, startups, academia and government on circular economy practice.
