||Growth Rate (%)
||India's BoT Surplus
[Source: Statistics Denmark/National Bank of Denmark]
India’s Service Exports to Denmark were US$ 471.7 million in CY 2010, a drop of
4.8% over CY 2009. India’s Service Exports to Denmark in H1 2011 were US$ 475 million. India’s Service Imports from Denmark were
valued at US$ 725.8 million in CY 2010 recording an increase of 13.8% over CY 2009. India’s Service Imports from Denmark in
H1 2011 were valued at US$ 267.5 million.
Major Indian Exports to Denmark are 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. Major Danish Exports to India are
medicinal/pharmaceutical goods, power generating machinery, industrial machinery, metal waste and ore, organic chemicals, etc.
Direct Investment Inflows from Denmark received by India during CY 2009 and 2010
were US$ 75 million and US$ 231 million respectively. During H1 2011 Danish direct investments in India was US$ 56.4 million.
Danish investments in India are 0.17% of total investments received by India as of April 2011. Major Danish investments in India
have been made in sectors like harbour/port modernization and expansion, beer breweries, wind turbine/rotor blade manufacturing,
agro-intermediates/insecticides, and the engineering sector. Indian Investments in Denmark in H1 2011 were US$ 18.8 million.
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, ITC Infotech, Mahindra Satyam, have also started their operations
in Denmark at a small level. Reliance Industries Ltd. acquired ‘Trevira Neckelmann’, 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.
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