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Riga · Euro (EUR) · pop. 1.9M · GDP USD 0.04T (98th). Member: European Union. WTO member.
India–Latvia is a growing bilateral trade corridor with USD USD 0.7B/yr annual trade, growing at +10% CAGR. FTA status: India-EU FTA — In Negotiation (2026).
India exports →
India imports ←
Trade data is indicative. Verify current figures at dgft.gov.in and trade.ec.europa.eu before commercial use.
India ↔ Latvia
India-EU FTA — In Negotiation (2026)
EU trade status
EU member state — participates in all EU FTAs and GSP agreements
| Port | Location | Annual TEU | Notes |
|---|---|---|---|
| Main Port | Riga | 0.5M TEU | Baltic hub |
| Airport | IATA | Cargo (MT/yr) | India connections |
|---|---|---|---|
| Main Airport | RIX |
0.03M MT | Major cargo hub |
Riga
Primary trade and regulatory hub
Secondary city
Trade and distribution hub
Local Importer/Agent
Recommended for first market entry into Latvia
EORI Registration
EU customs identifier — mandatory for commercial imports
CE Documentation
Required for regulated product categories
REQUIRED = legally mandatory · RECOMMENDED = strongly advised · OPTIONAL = sector-specific.
| Mandate | Commission | Context |
|---|---|---|
| IT services | 3-5% annual | Strong demand from Latvia importers |
| Engineering goods | 3-5% annual | Growing Latvia market segment |
| Risk | Assessment | Mitigation |
|---|---|---|
| Compliance documentation incomplete at customs | High / High — shipment held or refused at EU/national customs | Pre-clear all CE marking, EUR.1, and compliance docs before shipment |
| Payment terms and credit risk | Medium — use LC or ECGC-backed instruments for first transactions | Use confirmed LC for first 2 transactions; move to open account after track record |
Possibility
Is this corridor structurally viable?
Yes — India–Latvia trade is well established and growing across multiple verticals.
Probability
How likely to generate mandates?
High for certified, compliant Indian exporters with EU-standard documentation and quality systems.
Plausibility
Does the commercial logic hold?
Fully coherent — Latvia has demonstrated appetite for Indian manufactured goods, services, and expertise.
Product
Pharmaceuticals, engineering goods, IT services, textiles, chemicals and specialty products across 50 identified verticals.
Price
Indian products typically 25–45% below equivalent Latvia domestic production costs across most verticals.
Place
India: manufacturing clusters (Gujarat, Maharashtra, Tamil Nadu, Telangana). Latvia: direct importer, distributor, or EU-based MA holder.
Promotion
Trade fairs, bilateral chambers (FICCI, CII, EEPC, PHARMEXCIL), embassy commercial wings, AJG principal origination network.
People
Vinod Kumar Jain — 50+ years India manufacturing/trade experience. Amit Jain — EU market intelligence, Porto Portugal.
Process
Three P filter → compliance check → mandate NCNDA → principal introduction → supply/service agreement → commission.
Physical Evidence
EU GMP/CE certification, compliance documentation, SOP-backed trade execution.
Partners
FICCI, CII, EEPC, bilateral chamber India-Latvia, EU Commission Trade DG, local industry associations.
Performance
Target: 2–4 mandates/year in Latvia. Commission: 3–8% of annual contract value depending on vertical.
Purpose
India's manufacturing excellence and Latvia's market sophistication create complementary bilateral trade — building long-term supply relationships for mutual benefit.
✓ Success conditions
✗ Failure modes
Top verticals
Applicable FTAs
Related corridors
Have a question or insight on Latvia? Start a thread in Visas & Funding.
Discuss on the Forum →Not just bilateral India↔EU. AJG brokers all directions — Unilateral, Bilateral, Trilateral, Multilateral. Each route below is an active mandate configuration we work across both principals.
Trade Intelligence — Latvia
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