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| Downturn hits Denmark exports |
| BS Reporter / Kolkata Aug 20, 2009, 00:55 IST |
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Exports from Denmark to India will remain at the same level as last year's on account of the global downturn this.The main drivers for exports would be healthcare and power equipments, pointed out Peter Sand, Commercial Counsellor, head of commercial department, Embassy of Denmark. Speaking on the sidelines of an interactive session organised by the Confederation of Indian Industry(CII) Sand said “Our aim is to increase the total trade volume and investment both from India to Denmark and vice versa. Danish exports to India showed a considerable rise in 2008, it grew by 25 per cent over 2007.
But with the recession and economic downturn we expect Danish exports to India to remain at last year’s level this year.” The total value of bilateral trade between India and Denmark was pegged at $1.2 billion in 2008, of which 45 per cent was India’s import from Denmark and remaining 55-60 per cent was Indian exports to Denmark.The boost in exports this year would come from healthcare, machinery and energy sectors, he added. While major items that Denmark exports to India are medicinal and pharmaceutical goods, power machinery & motors, industrial machinery, metal waste ore,wind turbines, vessels, and communication equipment India exports mostly apparel, garments, commodities, iron and steel to Denmark. Almost 31 per cent of total Danish exports to India are machinery and almost 44 per cent of total India exports to Denmark is apparel.
Interestingly although many Indian companies have set up operations in Denmark and more than 100 Danish companies have set up base in India, unfortunately none of them are present in West Bengal.“West Bengal has been overlooked to a large extent and was not in the radar of the Danish companies because of its low visibility. There may have been small events in the past and media painted it in a more negative picture than it may have been” said Sand.
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