Volume 4 No.12 

Embassy of India, Copenhagen

December 15th 2003


Indian Bourse in Singapore  

Non-Resident Indians (NRIs) and Singapore nationals will soon be able to trade in Indian scrips directly, as the Central Government is negotiating with Singapore for setting up an Indian stock exchange branch in Singapore.  

In return, Indian citizens can look forward to trading in shares of companies listed on Singapore Exchange Ltd

The Singapore Exchange could be allowed to establish its branch in the proposed International Financial Centre in one of India's Special Economic Zones (SEZs).



(Financial Year)

April - September 2003

India's Exports to Denmark : 1, 018.67
India's Imports from Denmark :   678.98

Total Trade: 1, 697.65

Trade Balance: + 339.69

(Calendar Year)

January - September 2003

India's Exports to Denmark: 1, 572.95
India's Imports from Denmark:   993.60
Total Trade : 2,566.55

Trade Balance: + 579.35

(All Figures in DKK Million)  

Indiaís Forex Reserves race past US $ 97 billion

 India's foreign exchange reserves surged ahead by over USD one billion for the second time within a month and crossed the USD 97 billion mark.

During the week ended December 5th, record inflows saw a further accretion to the foreign exchange reserves by USD 1,449 million and stood at USD 97,520 million, according to Reserve Bank of India's weekly statistical supplement. During the week ended November 21, forex reserves had recorded inflows of USD 1,710 million.

Going by the current level of inflows, forex reserves should touch USD 100 billion mark by this month end, dealers said.



 UK Aviva to Move 2,500 Jobs to India

In a bid to save costs, UK insurer Aviva plans to create 2,500 back office jobs in India. Though the company did not state any exact figure as to the savings, a spokesperson declared it was well documented that the costs of operating a call centre out of India was around 40% of the costs in the UK. 


Prudential to Shift More Jobs  

UK's largest life insurer Prudential is looking at India as an offshore centre for higher-end jobs, over and above its call centre operations. The company has already outsourced a specific project to India, which involved switching 4 million policy holders from cash collection to a direct debit process in order to improve cash management. 

Xalted Picks up Major Stake in European Firm

Bangalore-based telecom technology company Xalted Network has picked up a 52% stake in the European telecom equipment manufacturer Systeam SPA for an undisclosed amount.

Besides, the company is also picking up controlling equity positions in two NASDAQ-listed telecom equipment companies.

"We have adopted a strategy of acquiring controlling positions in companies with the purpose of gaining access to a particular market as well as acquiring technology. Systeam has a current revenue run of about Rs. 800 million (about DKK 108 m) and has projects worth around Rs 2,500 million (about DKK 336 m.) to be executed over the next 3-5 years in hand", the Chairman of Xalted Networks said.

UK Train Operators to Shift Services to Bangalore

Train operating companies in the UK plan to shift their rail enquiries services to Bangalore, effecting annual savings in the order of 10 Million £.

The UK train operators intend to educate Indian call centre workers on minute details of British railways. The Indian staff will consequently need to cope with queries about anything, ranging from the availability of smoking carriages to disabled persons' access to sleepers and weekend engineering works.

Moreover, they will have to be aware of every fare and promotion on the network, including the difference between a saver, a supersaver, an off-peak saver, and a weekender.




Indo-US Initiative to Cut Prices of  AIDS/HIV Drugs 

 Former US President Bill Clinton, the Chairman of the Indian pharmaceutical major Ranbaxy, Mr. D.S. Brar, and the Chairman of the Matrix Drug Company, Mr. N. Prasad attended a function to back production of low-cost, lifesaving medicines for HIV and AIDS patients in Gurgaon on the outskirts of New Delhi, India on Friday, November 21st 2003.

The Clinton Foundation has brokered an agreement for three Indian drugs companies and a South African firm with the purpose of cutting the prices of their AIDS drugs for distribution in South Africa and in the Caribbean.




Nicholas Piramal to Supplement AMO's Product Portfolio   

The major Indian pharma company Nicholas Piramal India Limited (NPIL) and US-based Advanced Medical Optics Inc. (AMO), a leading company in ophthalmic surgical devices and eye care products, have tied up for the supply of selected components of AMO's eye care products.

NPIL will become a supplier to AMO for neutralizing tablets, unit dose form fills, and seal solution products, that will be distributed through various AMO manufacturing and distribution centres around the world. These products will be manufactured in NPIL's state-of-the-art formulations facility at Pithampur, India, with exports anticipated to begin in early 2005.

The contract is for five years with an option for renewal. 


The President, Dr. A.P.J.Abdul Kalam dedicated  the state-of-the-art National Brain Research Centre (deemed university) at Manesar, Haryana to the nation. This is probably, one of the best brain research centres in the whole of Asia. Its mandate is to make it a centre of excellence in brain research, with most modern facilities and a globally networked institution, for generating highly trained human resource. The centre was established by the Department of Biotechnology to bring together neuroscientists to unravel the complexity of the brain.

The human brain is a marvellously complex and sophisticated organ. The effort to understand its structure, function and development in health and disease, represents one of the greatest scientific challenges of the 21st century. Brain related disorders represent one of the major disease groups that affect the population irrespective of age and cause a huge burden on the society. With the increasing life expectancy the world over, the prevalence of neuro-degenerative disorders, are also expected to enhance disability among the population.

India is a pioneer in brain research and neuro-sciences. It has fruitfully ongoing co-operative programmes in brain research with the United States and Japan. 



Indo-Danish Trade in Medicinal/Pharmaceutical Products


Indian Exports to Denmark


January-September 2003: DKK 43.6 Million

January-September 2002: DKK 39.6 Million


Indian Imports from Denmark


January-September 2003: DKK 182.9 Million

January-September 2002: DKK 164.1 Million


Two-Way Trade

January-September 2003: DKK 226.5 Million

January-September 2002: DKK 203.7 Million


India most popular Outsourcing Hub for US Carmakers

North American automotive executives have picked India over China as the most popular offshore destination for the migration of business processing activities.

Nine out of ten executives surveyed by the global management consulting firm AT Kearney said they intend to move certain non-manufacturing business processes to low-cost offshore locations in Asia or South America.

The most popular destination was India, with almost 25% of the respondents opting for it, followed by China with 15% and Mexico with 13%. 


Virgin Atlantic to launch  Hyderabad-London Flight  

Keeping in view the market potential of the growing business relations between India and Europe, Virgin Atlantic Airways, the UK's second-largest airline, is planning to operate weekly, direct flights from Hyderabad and Bangalore to London.

While making this announcement, the Chief Executive Officer of the cost-effective airline, Mr. Steve Ridgway declared that his team had met the Union Civil Aviation Minister of India and requested him for the permission.



17th Indian Handicrafts & Gifts Fair

Asia's Leading Houseware & Gifts Show

(February 28th - March 2nd 2004)

Venue: Pragati Maidan, New Delhi


Export Promotion Council for


Fair Secretariat:

EPCH House

Pocket 6 & 7

Sector - C

Vasant Kunj

New Delhi-110070

Phone: 00 91 11 26 13 52 56

Fax: 00 91 11 26 13 55 18/19





(September 10th - 13th 2004)

Venue: New Delhi

Conference Organizer:

Travel Corporation of India Pvt. Ltd.

504-505, New Delhi House

5th Floor

Barakhamba Road

New Delhi-110001

Contact Executive:

Mr. G.V.R. Shastri, Manager

Phone: 00 91 11 23 31 58 34-38

Fax: 00 91 11 23 31 67 05

E-Mail:  /



Euro-India2004 Co-operation Forum on the Information Society

24th to 26th March 2004, New Delhi

The EuroIndia2004 eventís prime focus is to promote Euro-Indian co-operation in ICT and foster business and research collaboration. Participants can expect to acquire firsthand knowledge about the latest ICT developments in Europe and India, assess their potential, better understand mutual requirements and establish contacts in the business, R&D and academic communities.

EuroIndia2004 will be attended by European & Indian delegates from industrial, research, academic and public administration communities.

This three-day event will offer a stimulating mix of plenary presentations, including an opening address by the European Commissioner for Enterprise & Information Society Mr. Erkki Liikanen, and innovative parallel workshops covering e-enabling, communication technology, security & standardisation and next generation technology topics. EuroIndia2004 also includes a European Exhibition area together with outstanding facilities to allow both Europeans & Indians to take part in Networking Meetings and thematic Get in Touch session presentations.

The EuroIndia2004 Co-operation Forum on the Information Society is organised by the European Commission with the support of the Confederation of Indian Industry (CII) and with the active participation of The Department of Science & Technology, Government of India, The Indian Ministry of Communications & Information Technology, The National Association of Software and Service Companies (NASSCOM) and the Manufacturer's Association of Information Technology (MAIT).

 For further details contact or



From  Our Website


India Business Opportunities
Danish Investments in India
Danish Companies in India
Indo-Danish JVs in India
India-Denmark Trade & Economic Relations
India-Denmark Trade Statistics
Indian Companies in Denmark
India-Denmark Review 2003   (August 2003)

Danish Market for Leather Garments & Goods (August 2003) (PDF Format)


India in Business






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Tel: (+45) 39 18 28 30  Fax:   (+45) 39 27 02 18    Email:   &

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