Success of Nokia in India has motivated Finnish companies to look at the country as an attractive investment destination, especially its lucrative telecom sector.
"Nokia's success has set a motivating example for other Finnish firms to invest in India," said Pekka Lintu, Under Secretary at Finland's External Affairs Ministry, at a Confederation of Indian Industry meeting in New Delhi.
Pointing at another leading Finnish firm Elcoteq's decision to set up a manufacturing base in Bangalore, he said many more companies would follow suit in the near future.
"There has been very encouraging development in India in IT and telecom and Finland was willing to share its expertise with India. Companies from both countries should interact more often," he said.
Lintu, who will be in Bangalore on Tuesday, plans to visit the facilities of Wipro and Tata Consultancy Services.
Referring to the $300 million bilateral trade, he said, "The current level is far below the potential and could be enhanced substantially with greater cooperation".
On Finland's strategic economic potential, he said the country could also act as a gateway for the Indian companies to the Baltic countries, Russia and the European Union, and become a hub for the Scandinavian nations.
The enlargement of the EU has increased the scope for greater bilateral ties with India, Lintu said, adding the new members would have to adopt the common customs duty structure and cut down their industrial tariffs, which would accrue benefits to other trading partners including India.
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