India should ensure rules are long-lasting: Juha Sipila

Interview with Prime Minister, Finland

Juha Sipila, the Prime Minister of Finland, is in India to attend the Make In India week. Edited excerpts of an interview by Rajesh Bhayani

How have been the discussions with the PM and companies here?

We discussed on cooperation with business leaders in India. The areas of energy from waste, wind, solar, information communication and technologies and mobile phone networks are other areas Finnish companies are looking at. Chempolis, a biomass technology company, has signed an agreement. From India, the Mahindra group is active in Finland for holiday clubs and automobiles. We discussed further possibilities with them to invest in Finland. Other Finn companies making new investments here include Fortum, in renewable energy.

Transparency International has rated Finland as a country with no corruption. What can help India to improve its score?

Regulations for companies for doing business in India are required but India should ensure these are long-lasting, not changed frequently. Companies plan their business on the existing regulations. Step by step ease of doing business for foreign companies with policy continuity is also required, so that they know the rules and what is expected from them.

You have experience of setting up a venture and now as a PM in making policies for that. India has also started promoting start-ups. What have you to offer?

India is a land of enormous possibilities and has a huge size of the young population. This is very good. However, a start-up eco-system is important. Successful Indian business leaders having started to invest in start-ups is a good sign, as it can increase the scale of businesses faster. In Finland, we promote start-ups and innovations, for which we have annual events. From my experience, funding is most important for start-ups, which India should ensure. India has expertise in software, where high levels of investment are not required and hence that segment can grow faster.

What business relation is Finland looking to develop with India?

Finland has many things to offer in renewable energy. New software solutions are among the areas where India has big potential and these are areas where a small-scale business can be developed to a larger scale and cater to the world markets from India.

We discussed these potentials with the PM of India.

We also have lots of possibilities for Indian investment in Finland in innovation start-ups, renewable energy and software solutions.
 
Have you discussed the Nokia issue with the Indian government?

Yes. Nokia has discontinued mobile handset manufacturing in India, a very painful decision. Its case and India's tax policies are issues every one in Finland is aware of. While companies have to accept the environment, such issues need to be solved faster. Nokia will continue to operate only in the mobile phone network here. The Indian authorities have assured us that such things won't arise in future.