Denmark eyes greater economic cooperation with India

January 7th, 2009 - 11:59 pm ICT by IANS  

Kolkata, Jan 7 (IANS) There will be around 15 percent rise in bilateral trade between India and Denmark in 2008-09, the Danish envoy said here Wednesday.”We expect the bilateral economic activity between India and Denmark to rise up to 15 percent in 2008-09 compared to the corresponding period last year,” Ambassador of Denmark Ole Lonsmann Poulsen told reporters on the sidelines of a seminar organised by the Indian Chamber of Commerce (ICC) here.

He said the total volume of exports from Denmark to India was $400 million and the import volume was around $800 million in 2007.

“The export materials mostly comprise of machineries while the product that Denmark mostly imports from India are garments,” the Scandinavian envoy said.

Welcoming Indian professionals in Denmark, especially in the services, IT and medical sectors, Poulsen said: “There is a huge potential in various sectors in India. Many Denmark-based companies are now interested in coming to India with their investment proposals. And nearly 100 Danish companies have already opened units in India so far.”

He said recently a Danish insulation materials producing company, Rockwool International, had invested 18.5 million euro to open a factory in India. The unit will come up in 2010.

“We welcome similar investment proposals from India,” he added.

Denmark ranks as the 24th largest foreign investor in India, ahead of countries such as Russia, Austria and Ireland. According to reports available, the total figure of direct investment inflow from Denmark to India from 1991 till March 2008 has totalled approximately $173.4 million.

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