FOSTERING MUTUALLY BENEFICIAL ECONOMIC AND CULTURAL EXCHANGES BETWEEN OUT TWO COUNTRIES
Indian Prime Minister Pandit Jawaharlal Nehru’s visit to Denmark in 1957 laid the foundation for a friendly relationship between India and Denmark. Bilateral relations between India and Denmark are cordial and friendly, based on synergies in political, economic, academic and research fields. Several high-level visits have since taken place between the two countries, which have further served to reinforce this relationship. There have been periodic high level visits between the two countries.
COMMERCIAL AND ECONOMIC RELATIONS:
Though small in size, Denmark is a rich country with an open economy which relies heavily on foreign trade and investment.
Total volume of bilateral trade between India and Denmark was US$ 2838 million in 2015. Trade of goods between India and Denmark has more than doubled from US$ 530.9 million in 2003 to reach a level of US$ 1051 million in 2015. Balance of trade in 2015 was slightly in favour of Denmark; India’s imports being US$ 1446 and exports US$ 1392.
Major Danish exports to India, include; medicinal/pharmaceutical goods, power generation machinery, industrial machinery, metal waste and ore, organic chemicals, etc. Major Indian exports to Denmark, include; apparels/ready-made garments, textiles/fabrics/yarns/carpets, road vehicles and components, metal goods, iron and steel, footwear, travel goods including leather goods, industrial machinery and accessories, chemical material and products, etc.,
As per Denmark statistics, direct investment inflows from Denmark to India during 2011,2012,2013 and 2014 were US$ 877, US$ 931, US$ 731 & US$ 854 million respectively. The investments have been made in sectors such as harbour/port modernisation and expansion, beer breweries, wind turbine/rotor blade manufacturing, agro-intermediates/ insecticides, and the engineering sector. There is scope for additional investments in renewable energy, pharmaceuticals, food processing, shipping, electronics and infrastructure sectors.
Indian investments to Denmark in 2011,2012,2013 and 2014 were US$ 112, US$ 103, US$ 89 million and US$ 71 million respectively. A major investing company from Denmark is the Danish Shipping Giant, AP Moller Maersk Group which has made significant investments in the port infrastructure in India, acquiring a major equity stake in the Gujarat Pipavav Port and development of a bulk terminal at Jawaharlal Nehru Port to a container terminal. Other notable companies include; Cheminova Agro, F.L. Smidth & Co., Danfoss, CHR Hansen, Danisco, LM Glasfiber, Lundbeck, Egmont International Holding, Novozymes, Novo Nordisk, Carlsberg, Ramboll and ISS.
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, ITC Infotech, Mahindra Satyam and Ubique Systems have also started their operations in Denmark at a small level.
FIND A PIECE OF INDIA IN DENMARK
The size of the Indian community in Denmark is 8572 (6326- NRIs and 2246-PIOs) as of 1 January 2016. The PIOs came to Denmark in the 1970s and 80s from Punjab and neighbouring countries of Europe. There has been a steady increase in the number of NRIs due to the arrival of IT professionals, doctors, students and others from India in the recent times. There are several Indian Cultural Associations in Denmark who organise cultural programmes during festive seasons, as well as engage the expat community.
A famous Indian face, Mahatma Gandhi has even been recognised officially in Denmark. Gandhi Plaene (Gandhi Park) located at the junction of Borups Alle and Hvidkildevej in Copenhagen has a bronze statue if the man in a sitting posture.
BUSINESS TRAVEL BETWEEN DENMARK AND INDIA
For business persons interested in doing business in India, it is important to remember that holders of diplomatic and official passports do not require a visa for Denmark for a stay of up to three months, after which period a residence permit becomes necessary. Other visitors will require a visa. A visa may also be required to transit through other EU countries while travelling to Denmark. The details and types of visas issued to tourists, businessmen and students are available on the Indian Embassy’s website (http://www.indian-embassy.dk/)
Efforts are underway to have a direct flight from Denmark to India by early 2017. Finnair operates direct flight to India via Helsinki. Convenient links to get an Air India flight to India are from London, Paris and Frankfurt. Other connections are via Vienna, Moscow Istanbul, Doha and Dubai.
For More Visit:
Danish Embassy in India: www.ambnewdelhi.um.dk
Embassy of India in Denmark: www.indian-embassy.dk
Source: Special Supplement – August 2016, CPH POST.