CHENNAI: Estonia has returned to Chennai with a business delegation for the first time since 2019, as it steps up efforts to build partnerships in one of India’s fastest-growing industrial regions.
Marje Luup, Estonia’s ambassador to India, told The New Indian Express that the visit, its first since 2019, signals a push to build commercial links across sectors ranging from maritime and energy to health tech, gaming and advanced manufacturing.
“We see quite a lot of opportunities. The main reason for our visit is to find new possibilities for Estonian companies in the Tamil Nadu market,” Luup said during an interaction in Chennai, her first visit to the city.
The delegation, comprising representatives from five industry clusters, is exploring early-stage collaborations rather than formal agreements. No memorandums of understanding were signed during the visit, but officials indicated optimism about future deals.
The outreach comes as negotiations for the proposed EU-India Free Trade Agreement gather pace. While the pact is yet to be finalised, Luup said companies on both sides are already positioning themselves to take advantage of potential market access and tariff reductions.
Estonia is particularly interested in the region’s port infrastructure, energy ecosystem and deep talent pool in information technology. The delegation has held discussions with stakeholders linked to Chennai Port.
A key backdrop to the visit is Polymatech Electronics’s recent acquisition of an Estonian firm. The Indian company has invested about Rs 1,000 crore to set up a printed circuit board manufacturing facility in Estonia, aimed at serving global markets. Eswaran Rao Nandam, Chief Executive officer of Polymatech, said the Estonia unit offers advantages in terms of business environment and climate suitability for specialised manufacturing, while Chennai remains the group’s headquarters due to favourable policy conditions and ease of doing business.
“Estonia can serve as a gateway to Europe… it is very easy to expand into other European markets once you establish there,” Luup said.
Beyond traditional sectors, Estonia is pitching capabilities in cybersecurity, fintech and digital services. Defence technologies, including drones and unmanned systems, are also under discussion, alongside renewable energy solutions such as hydrogen and small-scale wind projects. Gaming and audio-visual technologies have also emerged as niche areas of interest.