Ancient Links, Modern Ties

Although separated by thousands of kilometres, Latvia and India share ancient connections through the Amber Way—a historic trade route that once linked the Baltic amber traders to India. The Latvian language, rooted in the Indo-European family, even bears close resemblance to Sanskrit, underscoring centuries-old cultural resonance.

Diplomatic relations have flourished since the establishment of the Latvian Embassy in New Delhi in 2014 and the Indian Embassy in Riga in 2024. A steady exchange of visits and dialogues continues to strengthen this partnership.

Expanding Economic Horizon

Economic cooperation between the two nations has surged. In 2024, Latvia’s total foreign trade turnover with India reached €371.4 million, marking a 67.2% increase over 2023. Exports stood at €58.4 million, up 26.4% from the previous year.

Latvia’s export profile is anchored in strong sectors such as wood, pharmaceuticals, chemicals, ICT, telecommunications, artificial intelligence, automation, and robotics. Leading Latvian companies, including MicroTic, SAF Tehnika, Valmiera Glass Fiber, Biolars, Olpha, and Grindex, maintain active trade relationships with India.

Technology and Start-up Synergies

Latvian start-ups are increasingly eyeing the Indian market. DeskTime, a leader in automated productivity software, has opened an office in India, where over 18,000 companies now use its platform.

During her March 2025 visit to India, Foreign Minister Ms Baiba Braže led a business delegation spanning ICT, space, and chemical industries, including Deep Space Energy, Eventech, and PrintyMed. Notably, in Bengaluru, the delegation met with the Indian Space Research Organisation (ISRO) to explore space cooperation opportunities.

Focus on Green and AI Innovations

Latvia is a pioneer in green and sustainable technologies, with firms like Aerones (wind turbine maintenance), Advangrid (energy efficiency), Naco Tech (hydrogen technology), and Fortes Energy (cogeneration plants) leading the way.

The country is also establishing an AI Centre of Excellence, collaborating with global tech companies to advance speech technologies, computer vision, and machine learning applications in healthcare, finance, and Smart Cities.

Gateway to Europe

Strategically positioned with ice-free ports, robust rail and road links, and EU and NATO membership, Latvia offers investors an attractive environment with low taxes and Special Economic Zones. The World Bank ranks Latvia 19th globally for ease of doing business.

Riga Airport is evolving into a regional e-commerce hub connecting Asia and Europe, with Air India and Air Baltic now sharing a code-share agreement. Riga also stands out as a destination for conferences and business events in the Baltic and Nordic region.

Education and Culture

Latvia’s universities are drawing growing interest from Indian students—over 3,000 are currently enrolled in 2025. The country, with 53% forest cover, offers a unique mix of nature, history, and culture. Its capital, Riga, boasts stunning Art Nouveau architecture and a UNESCO World Heritage-listed Old Town.

Latvia’s renowned Song and Dance Festival, one of the world’s largest choral gatherings, celebrates its deep-rooted folk traditions. With excellence in sports, culture, and education, Latvia offers Indians rewarding opportunities for both business and leisure.

For more information:

Visit the website of the Latvian Agency of Development and Investment.