Finpro endeavours to create strong trade ties with India

- Advertisement -
- Advertisement -

By Richa Chakravarty

Ippo Sarikka, head, Finpro India

Trade is one of the cornerstones of Indo-Finnish relations, with India being Finland’s fourth largest trade partner in Asia. The policy of the Finnish government has always been to share its expertise to increase international cooperation. Finland, being a global leader in the ICT sector, has naturally led to trade with India, one of Asia’s leading ICT hubs. The growing Indian economy seems to be another reason for Finland to consider India as a business destination.

- Advertisement -

India has a decade long trade relationship with Finland. Currently, there are approximately 90 Finnish companies in India, with 25 in the ICT sector. Although Finland has a strong knowledge base and know-how, it needs commercial partners. With Nokia, a Finnish company, setting up its manufacturing base in Chennai, one is sure that more large companies will now explore the vast potential of the Indian market.

Finpro’s role in accelerating trade

Finpro, a global expert network established by Finnish companies, has been a catalyst in helping develop trade between the two nations. “Finpro’s mission is to help Finnish companies establish trade internationally with minimum risk and maximum profit. “We mostly work with SME companies in the ICT sector. There are companies who have resources and aspire to grow, but are unable to invest time and find the right company. We help them to find the right partners in India, and reassure Finnish companies that the venture they are getting into is reliable one,” says Ilpo Sarikka, head, Finpro India.

With 50 trade centres worldwide and three in India (Delhi, Mumbai and Chennai), Finpro has a total strength of 350 people, with almost 250 from outside Finland. These are local professionals from different industries with the right networks and a good understanding of the sector.

Global networking

Finpro has been proactive in helping Indian companies as well, by partnering with them to invest in Finland. One of its strengths is its global network. The Finpro India team is in close touch with its Finnish counterparts and are well connected with the Finnish companies. “We help Indian companies through our own networks, directly. We provide free business service connections for foreign companies. If you are looking for Finnish suppliers, co-operation partners or importers, you can take advantage of Finpro’s business lead service (www.finpro.fi/businessleadservice). Companies can log in to our website and submit information about themselves along with their proposal for Finnish companies to view. Also, once the Finland partner finds the proposal encouraging, we follow up and ensure both the interested companies find each other,” explains Sarikka.

Services for SMEs and large companies

Finpro advises possible partners on overcoming the language barrier, the contrasting weather conditions in the two countries, other dos and don’ts regarding the corporate culture, etc. Moreover, on receiving encouraging proposals, Finpro can make a background check about the companies regarding their authenticity and seriousness about the proposal. Though electronics is a very strong sector that continues to grow in India, not too many Finnish companies have shown interest in this sector. They have also shown interest in heavy metal engineering companies, ICT, etc.

Finpro believes that in many cases manufacturing needs to be done where the consumers are—like in India and China. Moreover, India is being viewed as a potential country to invest in, and India is now one of the most interesting new markets for Finnish companies. “Lot of Finnish companies are now looking for partners here, especially in the telecom segment, and our role is to find partners for these companies, and then follow up as and when plans develop,’’ adds Sarikka.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Exclusive

5G RedCap To Transform IoT Module Shipments

0
Over 60% of IoT module shipments will originate from the Asian & Oceania region. Automotive sector is expected to be a significant driver. The...
XR Headset Quest 3, Meta

Global XR Headset Shipments See A Major Decline, Sony Rises

0
Sony grabbed a market share of 24% in 2023 up from 1% in 2022. Bulky form factor, and lag, hinder adoption by serious...

Indian PC Market Grows 4% In Q4 2023, Local Manufacturing Efforts Ramp Up

0
IT procurement by enterprises and SMBs, delayed in the first half of 2023, is starting to take place and is expected to accelerate...

Buzz

Tenstorrent- RISC V cores

MosChip Collaborates With Tenstorrent For Advanced RISC-V Cores

0
Tenstorrent has selected Moschip due to their tape out expertise in design services. India’s MosChip Technologies has announced partnership with computing company Tenstorrent and to...

BYD Aims For 20% Increase In Yearly EV Sales

0
The company is targeting sales of 500,000 vehicles internationally this year, over twice the amount sold last year, and aims to increase that figure...

RRP Electronics To Invest ₹5000 Cr In OSAT and R&D In Maharashtra

0
Cricket legend Sachin Tendulkar is investing in this semiconductor facility. Such celebrated personalities investing in the sector could be a great asset to the...

Important Sectors

BYD Aims For 20% Increase In Yearly EV Sales

0
The company is targeting sales of 500,000 vehicles internationally this year, over twice the amount sold last year, and aims to increase that figure...

RRP Electronics To Invest ₹5000 Cr In OSAT and R&D In Maharashtra

0
Cricket legend Sachin Tendulkar is investing in this semiconductor facility. Such celebrated personalities investing in the sector could be a great asset to the...

Subsidy Cuts Push E2W Makers Towards Budget Models

0
Electric two-wheeler manufacturers face reduced government subsidies and growing competition from established petrol vehicle brands in the upcoming fiscal year. These challenges compel them...

Nissan To Invest In Renault’s Ampere For EV Roadmap

0
The alliance aims to introduce both five-seater and seven-seater models for each brand in India. Japan's Nissan Motor has committed to investing in Renault's electric...

TPEM And HPCL Team Up To Enhance EV Charging Infrastructure

0
The collaboration seeks to enhance the experience of electric vehicle owners in India and promote greater adoption of electric vehicles among the population. Tata Passenger...

Manufacturing

JLR To Hire 250 Electrical Technicians For Future EVs

0
These new roles, part of a £15 billion investment, are in addition to 300 positions created last year by the British car maker. Jaguar Land...

Altmin India Partners With WMG To Advance Battery Tech

0
Altmin and WMG will collaborate to strengthen their global battery materials supply chain position by optimizing cathode materials and developing diverse cell designs across...

EVs To Cost Less Than Gas Vehicles by 2027, Says Gartner

0
Gartner predicts a faster decline in production costs compared to battery costs, which represent the most significant expense in an electric vehicle, accounting for...
MG

MG Motor To Set Up Battery Assembly Unit At Halol Facility

0
The company plans to investigate battery cell production in collaboration with external partners. Automaker MG Motor India is actively exploring the possibility of assembling and...

Servotech Boosts India’s EV Charging Infrastructure With Manufacturing Facility

0
The new facility is poised to start with an annual production capacity of 24,000 power modules and plan to scale up to 2.4 lakh...