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Estonian Business Delegation Advances Export Prospects in India: A Strategic Move to Expand Global Sales

The recent visit to India by Estonia’s Minister of Economic Affairs and Information Technology, Tiit Riisalo, accompanied by a strong business delegation, marks an important step in Estonia’s journey towards global economic expansion. Centered around the Vibrant Gujarat Summit, this strategic trip not only transcended diplomatic formalities but also delved deep into strengthening trade ties, exploring new cooperation opportunities, and showcasing Estonia’s advanced technological capabilities.

Minister Tiit Riisalo emphasized the significance of shared values, highlighting the need for democracies to engage in deeper collaboration and communication. He highlighted India’s important role for Estonia and expressed the hope to strengthen diplomatic and economic relations.

The delegation included leading Estonian companies like Cybexer Technologies, Vegvisir, Gennet Laboratories, Leil Storage, LEI Register, Omniva, Eesti Energia and TalTech. These companies had successful interactions with potential investors and partners, expanding Estonia’s business horizons in India. A key highlight was the signing of a memorandum of understanding between the Estonian defence industry company Vegvisir and the Indian company MKU Limited, signifying Vegvisir’s market expansion into the India. “This visit was crucial to conclude our long-standing discussions with MKU. The presence of Minister Riisalo at the signing ceremony was instrumental,” said Ingvar Pärnamäe, CEO of Vegvisir. “Our immediate focus is showcasing Vegvisir demos in India, led locally by MKU, with the ultimate goal of engaging the Indian Defence Forces.”

Andrus Kivisaar, CEO of CybExer Technologies, expressed similar sentiments, “The enormity and excitement of the Indian market drive our commitment to actively contribute to its promising future. We appreciate the continuous support from Minister Riisalo, the Ministry, the Embassy in India, and the indispensable assistance from Enterprise Estonia. This backing significantly enhances our ability to explore the diverse opportunities in this dynamic market. Looking ahead, we anticipate continued collaboration and growth on this promising journey.”

Additionally, the trip included discussions at the Indian Institute of Technology, Planning Commission of India (Niti Aayog), and the Ministry of Electronics and Information Technology, where Estonia’s digital successes and potential for collaboration in AI, cyber security, and green technologies were highly commended.

The Vibrant Gujarat Summit itself was an important point of the visit, with Minister Riisalo delivering a keynote address that underscored Estonia’s journey from a nascent digital society to a leading technological powerhouse.

Xenia Joost, Head of the Asian Region at Enterprise Estonia, emphasized the growing Indian economy’s significance and Estonia’s commitment to nurturing enduring collaborations between companies from both nations.

As the Estonian-Indian partnership continues to evolve at the Vibrant Gujarat Summit, the anticipation of impactful trade and collaboration developments between these two dynamic nations grows. Stay tuned for updates on the outcomes of this impactful visit.

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