What was India-Estonia trade in goods in 2025?

According to the MEA brief of March 2026, total trade in goods was EUR 139.3 million in 2025, with India's exports at 61.9 and imports at 77.4 (EUR million), according to Statistics Estonia.

Do India and Estonia have a double taxation agreement?

Yes. The Agreement for Avoidance of Double Taxation and Prevention of Fiscal Evasion (DTAA) was signed in September 2011.

Trade and investment between India and Estonia

This article sets out trade in goods and services between India and Estonia, investment in both directions, the economic agreements between the two countries and the business delegations and ministerial visits recorded in the Ministry of External Affairs (MEA) bilateral brief of March 2026. Trade figures are in euro millions and come from Statistics Estonia, as cited in the brief.

Trade in goods

According to the MEA brief of March 2026, trade in goods was as follows (EUR million):

2017: India's exports to Estonia 32.87, imports from Estonia 57.75, total 90.62
2018: exports 31.87, imports 86.44, total 118.31
2019: exports 45.61, imports 54.19, total 99.80
2020: exports 30.33, imports 64.77, total 95.10
2021: exports 41.00, imports 97.80, total 138.8
2022: exports 93.64, imports 123.85, total 217.49
2023: exports 42.1, imports 79.9, total 122
2024: exports 81.9, imports 76.5, total 158.4
2025: exports 61.9, imports 77.4, total 139.3

Trade in services

The brief gives trade in services as follows (EUR million):

2017: India's exports to Estonia 7.7, imports from Estonia 10.0, total 17.7
2018: exports 8.9, imports 8.4, total 17.3
2019: exports 9.4, imports 14.6, total 24.0
2020: exports 8.1, imports 7.7, total 15.8
2021: exports 11.80, imports 15.60, total 27.40
2022: exports 19.90, imports 19.50, total 39.40
2023: exports 15.8, imports 24.2, total 40.00
2024: exports 19.8, imports 91.7, total 111.5
2025: exports 25.8, imports 40.6, total 66.4

The brief does not list the main goods or services traded.

Investment

Indian FDI in Estonia was Euro13.6 million as on 31.12.2025, according to the Bank of Estonia. Estonian FDI in India from April 2000 to March 2025 was US$ 4.15 million, according to DPIIT (June 2025).

Economic agreements and the Joint Business Council

The brief lists these economic agreements:

Agreement on Trade and Economic Cooperation (signed in October 1993; entered into force in October 2004)
Joint Business Council Agreement between FICCI and the Estonian Chamber of Commerce (signed in February 1999)
Agreement for Avoidance of Double Taxation and Prevention of Fiscal Evasion (DTAA) (signed in September 2011)

The Joint Business Council (JBC) links FICCI and the Estonian Chamber of Commerce (KODA).

Ministerial visits on trade and industry

From Estonia, Minister of Regional Affairs and Agriculture Ms. Piret Hartman visited India on 2-7 December, 2024 with a business delegation that participated in SIAL India 2024. Minister of Economic Affairs and Information Technology Mr. Tiit Riisalo took part in a global summit in Gujarat on 10-12 January, 2024, where he was the keynote speaker at one of the seminars. Minister for Economic Affairs and Communications Mr. Juhan Parts visited on 3-8 February 2014.

From India, Minister of State for Petroleum and Natural Gas Smt. Lakshmi Panabaka visited Estonia in June 2013 with a delegation from ONGC and Hindustan Petroleum Corporation Ltd. Minister of State for Corporate Affairs Shri Sachin Pilot visited in April 2013, and Minister of Heavy Industries and Public Enterprises Shri Praful Patel in October 2011.

Business delegations

Ms. Mariin Ratnik, Under Secretary for Economic and Development Affairs in Estonia's Ministry of Foreign Affairs, visited New Delhi on 22-23 November, 2024 with a small 2-member business delegation.

Indian delegations to Estonia recorded in the brief include:

a 2-member delegation from the National Stock Exchange, Mumbai, to Tallinn in February 2023
a 15-member delegation from 11 Indian companies at the Latitude59 event in Tallinn on 22-24 May, 2024
the first-ever FICCI FLO delegation, led by Ms. Joyshree Das Verma with 64 other members including 8 former FICCI FLO Presidents, on 11-14 August, 2024
a 10-member high-level delegation from the All India Management Association (AIMA) on 2 May 2025, to explore cooperation in emerging technologies, digital governance, innovation and trade
a 10-member business delegation of importers and distributors from the food and beverage sector, from 5-9 May 2025
a 27-member business delegation of representatives from FICCI, the Government of Telangana and companies, from 22-26 September 2025

The TiE Retreat 2025 was held in Tallinn from July 3 to 6 and brought together over 150 TiE Charter Members from around the world, with a focus on entrepreneurship, innovation and global collaboration.