As on 15 September 2026
Overview
Estonia is a Baltic country of 45,228 sq km with a population of about 1.3 million. Its open economy, business environment, location and competitive labour costs attract foreign investors. Estonia is known for innovation and research, particularly in information and communication technology (ICT), and is one of the most advanced e-governance countries in Europe; its telecom sector is among the most developed in Central and Eastern Europe. Estonia invites Indian companies to use it as a gateway for trade and services with the Nordic and Baltic countries. Investment in computer and network infrastructure, together with skills in automation, cyber security, connected networks and data analytics, has created a fast-growing ecosystem of technology companies and start-ups.
Diplomatic presence
Estonia opened its resident Embassy in New Delhi in February 2012. The Embassy of India in Tallinn opened on 28 December 2021 at the level of Chargé d'Affaires.
High-level visits
- August 2019: in the first high-level visit to Estonia, Vice President Shri M. Venkaiah Naidu addressed the Estonia–India Business Forum 2019 with the Prime Minister of Estonia. A delegation of 18 Indian companies held B2B meetings with Estonian companies.
- July 2026: Commerce and Industry Minister Shri Piyush Goyal visited Estonia with a delegation of about 30 members from FICCI, CII, Invest India and Indian companies. He took part in the Estonia–India Business Forum and held talks with the Foreign Minister of Estonia and other officials on trade, investment and economic cooperation.
Bilateral trade
In 2025, total bilateral trade was €206 million: €139.3 million in goods and €66.7 million in services. Opportunities exist in IT, cyber security, blockchain and related technologies, where Estonia is strong; Estonia invites Indian IT companies to set up data centres in the country. Green technology (green hydrogen, wind energy) and the life sciences (genetics, molecular biology, biotechnology) are other areas of potential cooperation.
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026* |
|---|---|---|---|---|---|---|---|---|---|---|
| India's exports to Estonia | 32.87 | 31.87 | 45.61 | 30.33 | 41.00 | 93.64 | 42.10 | 81.9 | 61.9 | 73.76 |
| India's imports from Estonia | 57.75 | 86.44 | 54.19 | 64.77 | 97.80 | 123.85 | 79.70 | 76.5 | 77.4 | 31.37 |
| Total bilateral trade | 90.62 | 118.31 | 99.80 | 95.10 | 138.80 | 217.49 | 121.80 | 158.4 | 139.3 | 105.13 |
* 2026: January to July. Source: Statistics Estonia (HS2 code).
Goods in 2025
- India's imports from Estonia: €77.4 million — electrical equipment (€21.3 million), wood pulp (€19.9 million), mechanical appliances (€6.2 million), aluminium and articles thereof (€4.38 million), iron and steel (€3.96 million).
- India's exports to Estonia: €61.9 million — electrical equipment (€10.3 million), inorganic chemicals (€9.94 million), articles of iron or steel (€7.34 million), mechanical appliances (€7.26 million), optical and precision instruments (€2.33 million).
Goods in 2026 (January to July)
- India's imports from Estonia: €31.37 million — electrical equipment (€13.81 million), iron and steel (€2.38 million), aluminium and articles thereof (€2.22 million), plastics and articles thereof (€2.14 million), optical and precision instruments (€1.98 million).
- India's exports to Estonia: €73.76 million — electrical equipment (€21.25 million), mechanical appliances (€20.34 million), articles of iron or steel (€7.11 million), organic chemicals (€4.96 million), inorganic chemicals (€4.11 million).
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026* |
|---|---|---|---|---|---|---|---|---|---|---|
| India's exports to Estonia | 7.7 | 8.9 | 9.4 | 8.1 | 11.80 | 19.9 | 16.1 | 20.1 | 26.0 | 15.5 |
| India's imports from Estonia | 10.0 | 8.4 | 14.6 | 7.7 | 15.60 | 19.5 | 77.7 | 91.7 | 40.7 | 18.2 |
| Total | 17.7 | 17.3 | 24.0 | 15.8 | 27.4 | 39.4 | 93.8 | 111.8 | 66.7 | 33.7 |
* 2026: January to July. Source: Statistics Estonia.
Estonia's global trade
2025: exports of goods €18.6 billion and imports €22.4 billion. Main exports: electrical equipment (€2.75 billion), wood and articles of wood (€2.04 billion), vehicles (€1.69 billion), mineral fuels (€1.57 billion) and mechanical appliances (€1.56 billion). Main imports: electrical equipment (€2.98 billion), vehicles (€2.68 billion), mineral fuels (€2.14 billion), mechanical appliances (€2.06 billion) and plastics (€860 million). Main export markets: Finland, Latvia, Sweden, Lithuania and Germany. Main sources of imports: Finland, Latvia, Germany, Lithuania and Poland.
2026 (January to July): exports of goods €9.72 billion and imports €13.85 billion. Main export markets: Finland (€1.76 billion), Latvia (€1.36 billion), Lithuania (€1.04 billion), Sweden (€985 million) and Germany (€832 million). Main sources of imports: Finland (€1.70 billion), Latvia (€1.55 billion), Germany (€1.45 billion), Lithuania (€1.33 billion) and Sweden (€1.04 billion).
Indian investment in Estonia
Indian investment in Estonia is limited but growing. Reliance Industrial Investments and Holdings Ltd. (RIIHL), a wholly owned subsidiary of Reliance Industries, set up Jio Estonia OÜ in November 2018. In 2025, Polymatech Electronics Limited acquired and revived a printed circuit board factory in Paide. Indian FDI in Estonia stands at €14.2 million (Bank of Estonia, September 2026).
Estonian investment in India
Estonian companies in India work mainly in technology, electronics manufacturing and digital services. Incap Electronics Estonia OÜ runs an electronics plant in Tumakuru, Karnataka, through Incap Contract Manufacturing Services Pvt. Ltd. Helmes AS has grown its software delivery capacity in India through its partnership with Solbeg. Wise (formerly TransferWise) operates through a local entity, and LEI Register OÜ provides LEI registration services through LEI Register India Pvt. Ltd. Estonian FDI in India stands at €3.4 million (Bank of Estonia, September 2026).
Business delegations
From India to Estonia
- National Stock Exchange (February 2023)
- ICAI (23–26 May 2023)
- Indo-Icelandic Business Association (3–5 October 2023)
- Wood Buyer Delegation (9–11 October 2023)
- National Health Authority (1–3 November 2023)
- Latitude59 business delegation (22–24 May 2024)
- India's first Defence Industry Delegation (22–24 May 2024)
- Sterlite Power (June 2024)
- FICCI FLO (11–14 August 2024)
- Robotex India (6–7 December 2024)
- Indian journalists (10–15 December 2024)
- AIMA (2 May 2025)
- Food and Beverage Mission (5–9 May 2025)
- The Indus Entrepreneurs (3–6 July 2025)
- Department of Posts (17–19 September 2025)
- FICCI, Telangana State and companies (22–26 September 2025)
- Robotex India (5–6 December 2025)
- Indian journalists (15–19 December 2025)
- Office of the Comptroller and Auditor General of India (18–21 May 2026)
- Indian journalists (17–23 May 2026)
- Commerce and Industry Minister Shri Piyush Goyal with FICCI, CII and Invest India (17–18 July 2026)
From Estonia to India
- Biotechnology and Pharma Trade Mission (21–25 February 2023)
- 2nd CII India Nordic-Baltic Business Conclave, led by Undersecretary Mariin Ratnik (22–23 November 2023)
- Business delegation to the Vibrant Gujarat Summit 2024, led by Economy Minister Tiit Riisalo (8–12 January 2024)
- Foreign Minister Margus Tsahkna with a business delegation, Raisina Dialogue (20–23 February 2024)
- Estonian Wood Mission, led by Ambassador Marje Luup (10–14 June 2024)
- Food and Beverage business delegation, led by Minister Piret Hartman (2–7 December 2024)
- Technology clusters delegation: ITL, Technopol HealthTech, Tartu Biotechnology Park, Estonian Hydrogen Cluster, Defence Estonia Cluster and GameDev Estonia (March 2025)
- President Alar Karis, AI Impact Summit, New Delhi, with the AI Leap Foundation and a business delegation (February 2026)
Estonia–India Business Forum
A Joint Business Council agreement exists between FICCI and the Estonian Chamber of Commerce and Industry (KODA).
For trade enquiries, e-mail com[dot]tallinn[at]mea[dot]gov[dot]in.
Last updated on: 11 October 2026