'India's rising influence opens new doors for trade' - Estonia PM Kristen Michal | ET NOW Exclusive Interview

As per latest data, Bilateral trade between India and Estonia, while relatively modest in volume, has doubled since 2019 to over 200 million Euros. Estonia's major exports to India include wood pulp and electrical equipment. On the other hand, India primarily exports mechanical appliances to the Baltic nation, underlining its growing role as a global supplier of industrial goods.

Estonia and India have strong trade ties in manufacturing and industrial goods, but PM Michal is seeking to expand that relationship into high-growth sectors like cyber technology and information technology.

"Estonia has good I.T. reputation. We have many booming I.T companies and industry. We could work together in cybersecurity field and we are seeing contracts growing,'' he said.

Estonia is known for its secure e-governance platforms and resilient cyber defense infrastructure and presents collaboration opportunities in areas like digital identity, data security, and critical infrastructure protection.

Beyond the trade ties, Estonia hopes India can leverage its influence to help resolve the ongoing conflict involving Russia.

Estonia, a former Soviet state and NATO member, has stood steadfast in support of Ukraine ever since the war with Russia.

Talking to ET NOW PM Michal said, "My message to India would be to using its influence over Russia to ensure lasting peace in Ukraine."

In March, Estonia announced it would raise national defence spending to 5.4% of GDP, in-line with NATO's call for member states to hike target amid Russia-Ukraine conflict.

"It is the biggest armed conflict in Europe since World War 2 and how it is resolved is very important," Michal added.