Synopsis

India and Estonia are set to deepen their economic and technology partnership, with Commerce and Industry Minister Piyush Goyal highlighting opportunities to combine Estonia's digital expertise with India's scale, talent and manufacturing capabilities to develop globally competitive solutions and strengthen the broader India-Europe partnership.

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New Delhi: India and Estonia are set to deepen their economic and technology partnership, with Commerce and Industry Minister Piyush Goyal highlighting opportunities to combine Estonia's digital expertise with India's scale, talent and manufacturing capabilities to develop globally competitive solutions and strengthen the broader India-Europe partnership.

Addressing the India-Estonia Business Forum, Goyal on Friday said the recently concluded India-EU Free Trade Agreement would open new avenues for trade, investment and technology partnerships, while cooperation between the two countries could expand across digital public infrastructure, cybersecurity, artificial intelligence, quantum computing, manufacturing and defence technologies.

"I think together, we can combine Estonia's agility and technical depth with India's scale and talent and possibly also our design capabilities, which will help make your technologies scalable, more affordable, more cost competitive, and help you take your trusted digital solutions to Africa, to other parts of Asia," Goyal said.

He said Estonia could serve as a key gateway for Indian businesses seeking greater access to the Nordic-Baltic region and the European market, while Indian manufacturing capabilities could provide Estonian companies with competitive access to sectors such as electronics, machinery, chemicals, pharmaceuticals and processed food.

Goyal also highlighted the long-term growth potential of the Indian economy, saying the country's economy, currently valued at around USD 4 trillion, is expected to cross USD 30 trillion over the next 20-22 years. He invited Estonian businesses to participate in India's growth story and build partnerships that can endure as the economy expands.

The minister said the two countries could jointly develop solutions in digital identity, secure data exchange, payment systems and citizen-centric services, with technologies developed in Estonia and scaled in India for global markets. Cooperation in smart ports, digital logistics, precision agriculture, food processing, cybersecurity, unmanned systems and advanced manufacturing could also create new opportunities.

"If we combine your digital leadership with India's scale, talent and manufacturing strength, supported by the framework of the mother of all trade deals, the EU-India FTA, we can truly build a partnership that contributes not only to our two nations, but to a stronger India-Europe partnership," Goyal said.