Press Releases, 11/1/2016 | Ministry for Foreign Affairs of Finland
Minister of State with Independent Charge for Power, Coal, New and Renewable Energy and Mines Piyush Goyal of India will visit Finland on 3–5 November, at the invitation of Minister for Foreign Trade and Development Kai Mykkänen. The minister will be accompanied by a delegation of approximately 30 members who represent India’s business community and energy sector enterprises.
The agenda of Minister Goyal’s visit also includes a meeting with Prime Minister Juha Sipilä. Sipilä and Goyal met in Mumbai in February, at which time Sipilä presented the idea that Goyal make a quick visit to Finland for the continuation of business talks and authorities’ discussions. Minister Goyal and Minister Mykkänen will open the Indo-Finland Business Seminar focusing on energy cooperation. During his visit Minister Goyal will become widely acquainted with the know-how and offering of Finnish enterprises in the energy sector.
Piyush Goyal is a key minister in the Government of India and wants to boost India’s economic development further by investing in the latest, more efficient forms of energy that are climate and environment friendly. Minister Goyal’s area of responsibility includes electric power, coal, new and renewable energy and the mining sector. From Finland he is seeking partnerships and investments as well as solutions and technologies that are scalable to India’s extensive energy markets.
“I consider this visit to be an excellent opportunity to forge connections between Finnish know-how and energy solutions and India’s energy policy priorities. The markets of this expansive country are bottomless. Large Finnish enterprises already have quite a good presence, but the challenge to SMEs and startups is to find partnerships and networks in India that can make a product, service or know-how interesting on the Indian scale,” Minister Mykkänen states.
The main themes of the Indo-Finland Business Seminar are the integration of renewable sources into electricity grids, intelligent energy-efficiency solutions such as LED lighting for buildings and consumers, as well as bioenergy, waste-to-energy and the circular economy.
India’s economy last year grew by 7.5 per cent, and the country is among the fastest growing of the emerging economies. India is the world’s third largest consumer of energy and at the same time the third largest emitter of greenhouse gases. India ratified the Paris Agreement on climate change at the beginning of October. The goal the country has set for itself is to produce 40 per cent of its energy by domestic new and renewable energy sources by the year 2030, and to raise the production capacity of solar energy from 8 GW to 100 GW by the year 2022. The volume of the trade in goods between Finland and India last year was EUR 754 million, of which exports amounted to EUR 443 million and imports to EUR 311 million. In the peak year, 2011, trade in goods reached EUR 1.3 billion. Alongside trade in goods, there is significant trade in services. About 100 Finnish enterprises operate in India.
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