Trade Mission

Fostering Economic Ties Between India & Latvia

Indo Latvian Economic Trade Council (ILETC) picture a flourishing economic alliance between Latvia and India, driven by mutual growth and collaboration. Our aim is to promote effective trade partnerships, bolster enterprise initiatives, and unlock avenues for advancement.

  • Empower businesses through innovative solutions.
  • Encourage cultural synergy and exchanges.
  • Create pathways for sustainable growth.
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Mission Document of the Indo-Latvian Economic Trade Council (ILETC)

Mission Statement: To foster a robust and mutually beneficial economic relationship between India and Latvia, promoting trade, investment, and collaboration in various sectors to drive sustainable growth and prosperity.

Mission: To serve as a catalyst for enhancing economic ties between India and Latvia by providing a platform for businesses, entrepreneurs, and institutions to connect, collaborate, and innovate. 

Core Values:

  1. Innovation: Encouraging innovative solutions and technologies to address economic challenges and opportunities.

  2. Sustainability: Promoting sustainable business practices and investments that contribute to long-term economic and environmental health.

  3. Inclusivity: Ensuring that all stakeholders, including small and medium enterprises, have equal opportunities to participate and benefit from economic activities.

  4. Transparency: Maintaining transparency in all dealings and fostering trust among members and partners.

  5. Collaboration: Facilitating collaboration between Indian and Latvian businesses, government bodies, and other stakeholders.

Strategic Objectives:

  1. Enhance Trade Relations: Increase the volume and value of trade between India and Latvia by identifying and promoting new business opportunities.

  2. Facilitate Investment: Create a conducive environment for investment by providing information, resources, and support to potential investors.

  3. Promote Innovation: Encourage the exchange of innovative ideas and technologies between Indian and Latvian companies.

  4. Strengthen Partnerships: Build strong partnerships between businesses, government agencies, and educational institutions to foster economic growth.

  5. Support SMEs: Provide tailored support and resources to small and medium enterprises to help them grow and compete in the global market.

Key Initiatives:

  1. Trade Delegations: Organize trade delegations and business forums to facilitate networking and collaboration.

  2. Investment Summits: Host investment summits to showcase investment opportunities and attract foreign direct investment.

  3. Research and Development: Promote joint research and development projects in key sectors such as pharmaceuticals, IT, and renewable energy.

  4. Capacity Building: Offer training and capacity-building programs to enhance the skills and knowledge of entrepreneurs and business leaders.

  5. Policy Advocacy: Advocate for policies that support economic cooperation and create a favorable business environment.

The Indo-Latvian Economic Trade Council is committed to driving economic growth and fostering strong economic ties between India and Latvia. By working together, we can create a vibrant and sustainable economic ecosystem that benefits both nations.