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Bilateral trade of commodities between India and Denmark hasdecreased from US$1077.8 million in 2009 to US$ 1051 million in 2015. While Indian exports to Denmark decreased by 26% from US$ 904 million in 2014 to US$ 667 million in 2015, Danish exports to India decreased by 12% from US$ 437 million in 2014 to US$ 384 million during the same period. Bilateral commodities trade figures for the year 2009 to 2015 is given below.
(in US$ million)
[Source: Statistics Denmark]
Major Indian Exports to Denmark are articles of apparel and clothing accessories, Textile yarns and made up fabrics, travel goods and handbags, Organic Chemicals, General Industrial Machinery and Equipment, iron and steel, Miscellaneous manufactures articles, footwear and Furniture and parts thereof, bedding, mattresses etc.
Major Danish Exports to India are medicinal and pharmaceutical products, general industrial machinery and equipment, electrical machinery, Machinery specialised for particular industries, metalliferous ores and metal scraps, chemical materials, Professional, scientific and controlling instruments, organic chemicals, power generating machinery and iron and steel etc.
India's Services exports to Denmark were valued at US$725 million in 2015, which was 9%lower than 2014 figure of US$ 793 million. Denmark’s service exports to India were valued at US$1,062 million in 2015, representing decrease of 17% over 2014 figure of US$1,281 million (Source: Statistics Denmark).
The combined commodities and services bilateral trade between India and Denmark was US$ 2,838 billion in 2015 as compared to US$3,415 billion in 2014.India’s combined commodities and services trade to Denmark was US$1,392 billion in 2015compared to US$1,697 million in 2014, while Danish combined trade wasUS$1,446 billion in 2015 compared to US$ 1,718 million during the year 2014. India enjoys trade surplus in commodities, Denmark has balance of trade in its favour, as far as services is concerned.
According to Statistics Denmark, the Danish FDI in India were US$ 758 Million in 2015, US$ 854 in 2014, US$731 million in 2013, US$931 million in 2012 and US$877 million in 2011 respectively.Major Danish investments in India have been made in sectors such as manufacturing, trade and transport, financial and business services.
The Indian investment in Denmark were US$ 30 Million in 2015 ,US$71 million in 2014 , US$89 million in 2013, US$103 million in 2012 and US$112 million in 2011 respectively (Source: Statistics Denmark).
Major investing companies from Denmark include the Danish Shipping giant, the AP Moller – Maersk Group who has made significant investments in the port infrastructure in India, acquiring a major equity stake in the Gujarat Pipavav Port, development of a bulk terminal at the Jawaharlal Nehru Port to a container terminal, Cheminova Agro, F. L. Smidth& Co., Danfoss, CHR Hansen, Danisco, LM Glasfiber, Lundbeck, Egmont International Holding, Novozymes, Novo Nordisk, Carlsberg, Ramboll, ISS and others.
The presence of Indian companies in Denmark is rather small. Among IT companies, Tata Consultancy Services (TCS) and L&T Infotech have their offices in Denmark since 1990 and 2000 respectively. In the last few years, other Indian IT majors, viz., Infosys Technologies (invested in Aarhus based start-up UNSILO) , ITC Infotech, Tech Mahindra, HCL and Wipro have also started their operations in Denmark. Reliance Industries Ltd. acquired 'TreviraNeckelmann', a textile factory producing specialised yarns located in the Danish town of Silkeborg, as part of its take over of the European 'Trevira Group' from Deutsche Bank in June 2004. Thermax India acquired Danstoker A/S, Denmark, a leading European boiler manufacturer and its German subsidiary, Omnical Kessel for Euro 29.5 million in November 2010.Suzlon Energy Ltd., the Pune-based wind turbine producer, opened its overseas marketing office in Aarhus in Denmark in 2005. Dr. Reddy' Laboratories Ltd. (DRL) has entered into a co-development and commercialization agreement with Denmark-based firm Rheoscience A/S for joint development of balaglitazone for treatment of Type 2 Diabetes. Novozymes and Praj Industries have entered into an agreement whereby Novozymes would provide enzymes that will enable the Indian company to refine the process for making bio-ethanol – an organic and carbon-free alternative to petrol.Indian IT companyWipro acquired Danish owned global strategic design firm Designit in June 2015.
Visit of Commercial delegations to Denmark:
GTECH delegation: A delegation from the Group of Technology Companies (GTech) visited Denmark on May 09-10, 2011. The objective of the visit was to give Indian ICT companies based in Kerala an exposure to the Danish ICT environment, explore business prospects and facilitate networking opportunities.
Capexil delegation: A delegation from the Chemicals & Allied Products Export Promotion Council, consisting of 11 members, visited Denmark on May 23-24, 2011 as part of a Scandinavian tour to strengthen the trade relations. The aim was to interact with Danish importers of their respective products as well as relevant trade bodies and industry associations.
Sikkim Cooperative Milk Producers Union delegation: A 10-member strong delegation from the Sikkim Cooperative Milk Producers Union, headed by Dr. P. Senthil Kumar, Managing Director & Member Secretary of the Union, visited Denmark from 6-10 August 2012. The purpose of the delegation was to meet the representatives from the Danish Agriculture & Food Council and visit Arla Foods factory and a Danish organic dairy farm.
Manipuri delegation: A 7-member delegation from the State of Manipur visited Denmark in connection with a training programme on Integrated Water Resources Management (IWRM) at DHI, Denmark from 17-22 September 2012. The delegation was headed by Mr. T. Ibobi Singh, Project Director, Loktak Development Authority.
IIM Kolkata delegation: A 9-member delegation comprising of senior officials from ONGC and Rashtriya Chemical Fertilisers undergoing Advance Management Programme(AMP) at IIM, Kolkata visited Copenhagen on 30-31 October, 2013. During their stay, the delegation had meetings with HaldorTopsøe A/S, a Chemical Company and A.P. Møller – Mærsk, Shipping/Oil drilling company. They also visited Copenhagen Business School (CBS) for discussion on various business related issues.
A 27-member delegation comprising senior officials from ONGC undergoing Senior Management Programme (SMP) at IIM, Kolkata visited Copenhagen on 18-20 February 2014 as part of their study curriculum that included possibilities of collaboration in niche areas of Danish expertise like solid waste management, renewable energy etc. .During their stay, the delegation visited the premises of two leading Danish companies -A.P.Moller-Maersk, Shipping/Oil drilling company and Dong Energy power Company and held discussions on issues related to their field of operations.
A 30 member delegation comprising of senior officials from ONGC along with two Professors of IIM, Kolkata visited Copenhagen on 27th -31st January, 2015 as part of Advance Management Programme(AMP) course curriculum conducted byIIM, Kolkata for senior executives. They visited A.P. Moller Mærsk headquarters, State of Green (DI), Copenhagen Business School, Danish Technical University and Danish consulting company Ramboll. Ambassador also gave a briefing to them about Denmark
A 30-member delegation comprising senior officials from ONGC along with two Professors of IIM, Kolkata visited Copenhagen on 18th-20th May, 2015 as part of Advance Management Programme (AMP) course curriculum conducted by IIM, Kolkata for senior executives. They also visited A.P Moller Mærsk Training Center in Svendborg and Confederation of Danish Industries (State of Green).They were introduced to renewable energy and Bio Mass related company visits to have business related discussions. Ambassador also gave general briefing to them about Denmark. The delegation members were impressed with the presentation made by Danish companies.
NASSCOM Delegation: A 19 member team of NASSCOM delegation led by Vice Chairman Mr. B.V.R. Mohan Reddy visited Denmark from 19th to 20th May 2014. Ambassador Shri Niraj Srivastava hosted a reception for the visiting delegation at the chancery on 19th of May. Prominent Danish companies and Indian IT companies established in Denmark were invited for the evening and they interacted actively with the visiting delegation.
A 22 member NASSCOM delegation visited Denmark on 30th April 2015. A reception was hosted at the Chancery where they inter-acted with Ambassador Niraj Srivastava and representatives of some IT Indian companies. The delegation was briefed about possible and potential business opportunities in the IT sector.
CII Delegation: A 15 member business delegation mounted by Confederation of Indian Industries visited Copenhagen on May 4th 2016. Delegation of 10 Indian Companies Dr. Rajiv I Modi chairman and Managing Director Cadila Pharmaceuticals Limited was accompanied by Mr.Rajesh Bhardwaj, Director and Mr.Umesh Kumar Singh, Business Development Manager from Effibar India Pvt. Ltd, Mr. T Balakrishnan, Managing Director, Inkel Limited, Dr. Kiran Kumar Kurilla, Joint Managing Director, Rahyals Envergy India Pvt. Ltd, Dr. M. Lakshmi Prasad, Managing Director, Sujay Biotech Pvt. Ltd., Mr.Neeraj Menon and Mr. Yogesh Singh, Partners from Trilegal, Mr. Carl-Henrik Hallström, Head of Nordic Region, Wipro Technologies, Mr.Krishnendu Ghosh, Senior Manager, Larsen & Toubro Infotech, Mr. Vikash Roy Chowdhury,Country Manager,Tech Mahindra. From the CII side it was led by Ms. Kavita Choudhry, Regional Director- Europe and Mr. Mohsin Khan, Deputy Director (Europe). Ambassador Rajeev Shahare briefed the delegation on India Denmark Relations and potential business opportunities.
The program also included a speech by Mr. Jens Holst-Nielsen, Director , Confederation of Danish Industry and Dr. Rajiv I Modi. A B2B meeting was organized in which around 25 to 30 Danish Companies signed up to meet the Indian Delegation were matched. The delegation also had an interactive session with The State of Green by its Executive Director Mr. Finn Mortensen, followed by presentation from Cluster and Association representatives from CLEAN, Danish Agricultural Council and Medicon Valley Alliance.
The Delegation was invited by the Danish Trade Council by Ambassador Susanne Hyldelund, Head of Danish Trade Council at the premises of Danish Foreign Ministry. Innovation Fund Denmark briefed its activities by its Director Mr. Peter Høngaard Andersen, Mr. Ulrik Fleischer Michaelsen from the law firm Njord detailed the delegation on benefits of opening operation in Denmark, Mr.Thomas Højlund Christensen, Commercial Director,Invest in Denmark addressed the Delegation on opportunities in Denmark, Mr. Ib Albertsen, Investment Fund for Developing Countries ( IFU) addressed the delegation on funds operations in India and possibility to get viable business project funded through them in India in Collaboration with Danish Companies.