1 week ago
India-EU FTA Seen Opening New Avenues for Businesses
India and the European Union have signed a free trade agreement.
Finland’s trade counsellor said the agreement could create more business opportunities.
Companies in Europe and India may be able to trade and work together more easily.
Businesses are waiting for the practical details needed to make the agreement work.
Herlevi also said India and Finland could cooperate on recycling and reducing waste.
A circular economy means using fewer materials and recycling more of them.
He said products should be designed to last longer and be easier to recycle.
Using fewer materials could also reduce energy and water use.
He called better planning and product design important starting points.
Finland Trade Counsellor Antti Herlevi said the India-European Union FTA could deepen commercial cooperation.
European businesses are eager to work more closely with Indian companies, he said.
Businesses are awaiting the agreement’s operational details and implementation.
Herlevi identified circular-economy cooperation as a major opportunity between India and Finland.
He urged companies to reduce material use, extend product lifespans and improve recycling through better design.
- Who
- Antti Herlevi, Trade Counsellor at the Embassy of Finland, and businesses in India and Europe.
- What
- The India-European Union Free Trade Agreement is expected to create business opportunities, while India and Finland may cooperate on circular-economy practices.
- Where
- India, the European Union, and Finland.
- When
- Friday; the year was described by Herlevi as important, but no specific year was given.
- Why
- The agreement is intended to deepen commercial cooperation, while circular-economy collaboration could reduce material use, waste, energy consumption and reliance on virgin materials.
Key facts
- Agreement
- India-European Union Free Trade Agreement
- Speaker
- Antti Herlevi, Trade Counsellor at the Embassy of Finland
- Expected effect
- New avenues for businesses and deeper commercial cooperation
- Implementation
- Businesses are awaiting the practical details needed for the agreement to become operational
- Circular-economy focus
- Reducing material consumption, improving product design and strengthening recycling systems
- Product-design goals
- Use fewer materials, last longer and allow materials to be recycled
Quotes
Antti Herlevi
Trade Counsellor at the Embassy of Finland
“This year is very important. As you know, the FTA has been signed, and Europeans are very much looking forward to working with India and Indian companies. There is a lot of excitement, and we hope that all the practicalities will be worked out soon.”
thehansindia.com
“Simply put, we should use fewer materials and recycle as much as possible. That can be a major game changer.”
thehansindia.com
Sources
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