Embassy of India

-- A Monthly Economic Newsletter

Vol.5. No.5
May 15, 2004


Services Offered by Inspection Agencies

Third Party Inspection of Goods Imported from India by Danish Firms

BSI Inspectorate India Pvt. Ltd. is part of the worldwide British Standards Institution (BSI) Inspectorate Group having offices and laboratories in more than 100 countries. BSI Inspectorate India performs all types of pre-shipment inspection of a variety of products exported from India including (but not limited to): Agricultural products, chemicals & pharmaceuticals, consumer products, engineering items & capital machinery, minerals & metals, textiles. BSI Inspectorate India operates more than 70 offices and laboratories in India located at all major ports and industrial towns.

Interested Danish companies may contact:

Mr. Malay Chatterji, Senior General Manager, BSI Inspectorate India Pvt. Ltd.
1011, Ansal Bhawan (10th Floor) - 16, Kasturba Gandhi Marg - New Delhi-110001
Phone: 00 91 11 23 73 79 88,
Fax: 00 91 11 23 35 60 43

Danish Biotech Research Moving to India and China

Reliance Clinical Research Services Go Global



Conference & Exhibition

(September 23rd - 25th 2004)

Venue: Pragati Maidan, New Delhi

Exhibitors' Profile

Bus Makers, Coach Builders, Accessories & Services Providers, Tourism, Information Technology, Banks & Insurance


Inter Ads Limited

No. 2, Padmini Enclave, Hauz Khas, New Delhi-110016

Phone: 00 91 11 26 86 11 13/14
Fax: 00 91 11 26 86 11 12

12th Delhi International Leather Fair

   (May 21st - 23rd 2004)

Venue: Pragati Maidan, New Delhi

Focus: Footwear & Footwear Components

Additional Product Coverage:
Finished Leather, Leather Garments, Leather Goods (Handbags, Wallets, Belts), Leather Gloves, Leather Saddlery

For further information, space booking, and enquiries, please contact organizers:

India Trade Promotion Organization (ITPO)         The General Manager (Marketing Division)   Pragati Bhawan,
Pragati Maidan,
New Delhi-110001 

Phone: 00 91 11 23 37 13 90,
Fax: 00 91 11 23 37 18 74  



24th India International Trade Fair

(November 14th - 27th 2004)

Venue: Pragati Maidan, New Delhi

Twin Themes:


Information Technology


The Biggest Multi-Product Exposition of its Kind in Asia

Early Bird Discount of 5% Offered by ITPO 

for space confirmation with full rentals on or before July 31st 2004!


India Trade Promotion Organization (ITPO)

Pragati Bhawan, Pragati Maidan, New Delhi

Phone: 00 91 11 23 37 11 00, Fax: 00 91 11 23 37 11 22

E-Mail:, Web: 


Reliance Clinical Research Services (RCRS) is now addressing the clinical research services markets in the USA and in Europe. Being part of the Reliance Group of Companies, India's largest private sector company, RCRS is mandated to emerge as an Indian-based, world-class contract clinical research services organization.

RCRS provides services in project management, clinical operations, site management, biometrics (data management and biostatistics), medical affairs (pharmaco-vigilance and medical writing), regulatory affairs, animal studies, quality assurance, molecular diagnostics, ICH-GCP training, archival facilities, and drug storage & supplies.

RCRS is currently conducting several studies for clients based in the USA, UK, and Middle East. The costs of clinical trials in the USA and Europe have skyrocketed, and recruiting qualified, therapynaive patients, i.e. patients who have not received any prior treatment, can be extremely time consuming and delay completion of such trials for months or even years. Many healthcare companies, both large and small, find doing clinical trials in India an attractive option, since completing clinical drug trials and product development in India could be up to 75% faster.


Avesthagen and Cipla Team up for Bio-Pharmaceuticals Development Programme 

In a path-breaking move for the biotech-pharmaceutical industry in India, Bangalore-based Avestha Gengraine Technologies Pvt. Ltd. (Avesthagen - that recently opened up a branch office in Copenhagen) and Cipla Ltd. have embarked on a collaborative, biopharmaceuticals development programme. The programme will result in the release of a new generation of targeted therapies.

The partnership, which initially focuses on development of biopharmaceuticals in the area of auto-immune disorders, is expected to widen, with a bouquet of products in the pipeline to cater to other segments, such as cardio-vascular disorders (CVD) and cancer. Under the terms of the sponsored research agreement, Avesthagen will focus on research  and product development all the way through clinical trials, while the leading Indian pharma company Cipla Ltd. will concentrate on scale-up, marketing, and distribution.


The Danish biotech and pharmaceutical corporations Novo Nordisk & Novozymes plan to place increasing amounts of research and development in India and China to take advantage of their high standards and cheap labour costs. Executive Officer of Novo Nordisk, Mr. Mads Krogsgaard Thomsen said: "We have worked with Indian and Chinese researchers for years and known their level. And it is high". His colleague in Novozymes, Mr. Per Falholt is also attracted to the combination of high quality at lower salaries, saying that in ten years time, his company will use a good deal more employees from India. "Indians are clever biotechnologists, and they only cost a sixth", he added.

Indian biopharmaceutical business, presently estimated at US$ 200 Million, is expected to grow to US$ 3.3 Billion by 2007-2008, dominated by recombinant proteins, vaccines, and monoclonal antibodies.



      Massive Jump in India's GDP Growth

The GDP growth rate for the third quarter of the financial year 2003-2004 (October- December 2003) soared up to 10.4%. This follows a record second quarter GDP growth of 8.4%. Agricultural growth contributed substantially to the overall improvement in the Indian economy. The cumulative, average GDP growth rate for the 9-months period April-December 2003 stands at 8.2%, compared to just 4.1% for the corresponding three quarters in 2002.

India up 2 Slots in Auto Rankings

India has jumped two places ahead to 13th position in the latest, worldwide automobile production ranking index, overtaking Belgium and Mexico. India is among the few countries in Top 15 that has shown a growth rate of nearly 30% in automobile manufacturing.

Allied Telesyn to Set up Indian Subsidiary

Attempting to enhance its presence in India, the US$ 520 Million US-based networking major Allied Telesyn is planning to establish a wholly owned subsidiary as well as a research & development centre in the country.

While working out the modalities for its expansion plans, Allied Telesyn expects its subsidiary to be operational early in 2005, the R&D centre coming up at a later stage. 

Indian PC Sales Surge by 87%

IT penetration in the Indian market is growing by leaps and bounds. In the quarter October - December 2003 personal computer sales thus crossed 800,000 units, an 87% growth over the corresponding quarter of 2002. According to projections by the Manufacturers' Association for Information Technology (MAIT), the quarter January - March 2004 is likely to have resulted in PC sales of about 930,000 units. The notebook PC market in India recorded a 105% growth rate in October-December 2003 over the quarter July-September 2003 with sales of 29,000 units.

Infosys US$ 1 Billion Company

Indian software major Infosys Technologies crossed the landmark of US$ 1 Billion in revenues in the financial year April 2003 - March 2004.


India-Denmark Trade Statistics

   April 2003-February 2004
           (Financial year)             

India's Exports to Denmark 1,811.92
India's Imports from Denmark 1,421.94
Total Trade 3,233.86
Trade Balance + 389.98

January-February 2004 (Calendar year)

India's Exports to Denmark   382.82
India's Imports from Denmark   278.34
Total Trade    661.16
Trade Balance + 104.48

(All Figures in DKK Million)

    TDC of Denmark Considers Moving IT Services to India

The Danish telecommunications major TDC A/S - formerly known as Tele Danmark - claims to be looking into the possibility of moving certain IT services to India with the purpose of cutting its operating costs in the competitive Nordic telecom market. IT Director of TDC Services, Mr. Erling Madsen believes that some of TDC's conversion jobs can be carried out in India at one tenth of the local Danish cost.

Danish Biotech Research Moving to India -        See Biotech/Pharma Sector!

Bang & Olufsen Enters India

According to Bang & Olufsen's Marketing Director, Mr. Jakob Odgaard, B&O will soon be entering the Indian market. The first exclusive B&O store in India is expected to become operational within a year. The Danish manufacturer of high-segment audio/music systems, televisions, and loudspeakers is presently evaluating eight potential distributors.

The introduction of Bang & Olufsen products follows in the wake of the successful marketing in India of the well-known Danish 'Jamo' brand loudspeakers.


Inside This Issue

Indian PC Sales Surge     by 87% 
Infosys US$ 1 Billion Company
 Indian Lunar Mission Attracts International Attention
Danish Biotech Research Moving to India & China
Reliance Clinical Research Services                Go Global 
24th India International Trade Fair (IITF)
 12th Delhi International Leather Fair
 Busworld India Conference & Exhibition


Further Increase in India's Foreign Exchange Reserves 

Increasing by more than US$ 300 Million by the financial year end in March 2004, India's Foreign Exchange Reserves now exceed US$ 110 Billion. This amount would be sufficient to meet the needs of financing as many as 20 months of merchandise imports.

         Capital Inflows into India

In the 10-months period April 2003 - January 2004, foreign investments in India aggregated US$ 12.1 Billion, of which US$ 8.8 Billion were constituted by surging portfolio inflows.

Foreign direct investments (FDI) into India thus totalled US$ 3.3 Billion during the period in question.


Indian Lunar Mission Attracts International Attention

The Indian Space Research Organization's (ISRO's) lunar mission, which is scheduled to be undertaken in 2007-2008, has attracted the attention of major world powers. The United States, European Union Members, and Canada have all shown interest in participating in this mission. 

Published by: Embassy of India - 15, Vangehusvej - DK-2100 Copenhagen
Phone: 39 18 28 30 / 39 29 08 54,  Fax: 39 27 02 18 E-Mail: