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Rising Business Collaboration Interest Among Latvian and Indian Business Owners

Growing Collaboration: Latvian and Indian Businesses Eye High-Tech Sectors for Joint Ventures, Particularly in Information Technology

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Growing Mutual Interest in Collaboration Between Latvian and Indian Businesses, Particularly in...
Growing Mutual Interest in Collaboration Between Latvian and Indian Businesses, Particularly in High-Tech and Information Technology Sectors

Rising Business Collaboration Interest Among Latvian and Indian Business Owners

Cracking the Tech Code: Booming Collaborations between Latvia and India

The tech-driven symphony between Latvia and India is resonating louder than ever, as businesses from both nations join hands in the realms of high-tech, IT, and innovation. Latvian Foreign Minister, Baiba Braze (New Unity), recently embarked on a working tour of India, highlighting the burgeoning ties.

The Ministry of Foreign Affairs (MFA) hints at buoyant bilateral relationships between India and Latvia, with the potential for economic growth and collaborative ventures escalating within multilateral organizations.

During the visit, industry leaders from both nations convened to explore opportunities in sectors such as information and communication technology, space, electronics, photonics, green technologies, biomedicine, and more. Participants included representatives from Investment and Development Agency of Latvia, Eventech, Deep Space Energy, PrintyMed, Nordichem, Sertifikacijas un Testesanas Centrs, DeskTime, and more.

In discussions with Indian Foreign Minister Subrahmanyam Jaishankar, Braze broached topics such as the potential conclusion of the EU-India Free Trade Agreement and transatlantic relations. The duo also addressed the pursuit of a just and lasting peace in Ukraine, containing Russia, and the implications for Europe's security and the Indo-Pacific region's security and prosperity.

At the Raisina Dialogue 2025 security conference, Braze advocated for a lasting peace in Ukraine, emphasizing that any resolution must guarantee Ukraine's independence, sovereignty, and territorial integrity. She underscored that it was Russia who initiated this conflict and highlighted how Russia now seeks influence not only in Europe but worldwide, including in Asia.

MFA emphasized the importance of engaging in global discussions on war and peace, given the present geopolitical climate. They pointed out that it is crucial to debunk the falsehoods and disinformation disseminated by Russia, which utilizes various formats and platforms for strategic propaganda.

MFA declared that plans are underway to expand the inter-state contractual framework. Braze expressed her interest in forging a bilateral agreement on higher education and a bilateral cooperation program in education and science.

At the India-Europe Business Exchange Program, Braze showcased Latvia's progress in IT, space, and innovation to potential Indian partners. She also engaged with representatives of the European Business Federation in India, highlighting Latvia's prowess in high-tech and innovation, opening doors for possible Indian collaborations.

Furthermore, Braze and a contingent of Latvian business minds held discussions with the leadership of the Indian Space Research Organization. The Latvian space industry showcased its achievements in the space sector, discussing prospects for collaboration with their Indian counterparts. Braze extended an invitation to the Indian Space Research Organization to visit Latvia and deliberate on further collaborative steps.

Tying these developments together, the future collaboration between Latvian and Indian businesses in high-tech, IT, and innovation is likely to focus on:

  • Education and Research Partnerships: By fostering academic and research collaborations, these nations can nurture innovation and knowledge exchange.
  • Trade and Investment Agreements: Formalizing trade and investment partnerships through MoUs or similar arrangements can facilitate joint ventures and investments.
  • Exhibition and Business Events: Regular participation in tech-focused trade exhibitions and business conferences can help identify and capitalize on emerging opportunities. These platforms, such as the Indian National Exhibition 2025 and specialized B2B events, can facilitate long-term synergies.
  1. The burgeoning collaboration between Latvia and India in the technology and business sectors may lead to growth in education and research partnerships, fostering innovation and knowledge exchange.
  2. To facilitate joint ventures and investments, there is potential for both nations to formalize trade and investment agreements through Memorandums of Understanding (MoUs) or similar arrangements.
  3. Regular participation in tech-focused trade exhibitions and business conferences, such as the Indian National Exhibition 2025 and specialized B2B events, can help identify and capitalize on emerging opportunities for collaboration.
  4. In finance, it would be advantageous to forge a bilateral agreement on higher education, further strengthening the educational and research ties between Latvia and India.
  5. To advance industry collaborations in sectors like space and electronics, both nations' decision-makers should explore opportunities for increased engagement, such as the Indian Space Research Organization visiting Latvia to discuss potential collaborative steps.

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