IN his meeting with the Ms. Lene Esperson, Deputy Prime Minister and
Minister of Foreign Affairs, the Union Commerce Minisrer, Mr Anand Sharma,
welcomed the setting up and commencement of the India and Denmark Joint
Commission to address economic and commercial issues. He added that in addition
to the existing Agreements on Bilateral Investment and Protection and Avoidance
of Double Taxation, such a mechanism provides a framework for economic and
industrial cooperation. He mentioned that a Social Security Agreement has
already been signed between the two countries in February 2010.
Interacting with the visiting Minister, Mr Sharma said that bilateral
trade between India and Denmark reached US $ 1.083 billion during the year
2009-10, an increase over the quantum of US $ 1.061 billion of 2008-09. Trade
consisted of exports worth US $ 580 million and import of Denmark was US $ 503
million in 2009- 10. The principal commodities being exported to Denmark include
textiles, cotton yarn fabrics, transport equipment, machinery,
drugs/pharmaceuticals/fine chemicals, electronic goods etc. India's imports from
Denmark's include petroleum crude and products, medicinal and pharmaceutical
products, organic chemicals, electronic goods, professional instruments.
Cumulative FDI inflows from Denmark to India are USD 173.12 million from
April 2000 to Sept 2010. Top sectors attracting Danish investment are in the
sectors of Construction, Transport Industry, Services, Telecommunication,
Electrical Equipments etc. Some of the major Indian companies invested in
Denmark are Reliance Industries (yarn production), TCS, Suzlon Energy Ltd., Usha
Martin and L&T Infotech
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