Trade, Technology & Talent: Key focus areas of PM Modi’s Denmark visit
Prime Minister Modi is on his three-day trip to Germany, Denmark, and France. During his bilateral and multilateral meetings, the Prime Minister’s three-nation visit will have a robust and comprehensive agenda.
On the second day, PM Modi will pay an official visit to Copenhagen on May 3 at the request of his Danish counterpart Mette Frederiksen. This will be the Prime Minister’s first visit to Denmark. In a community event, the Prime Minister of Denmark will interact with members of the Indian diaspora, just as he did in Germany.
According to the newly-appointed Foreign Secretary Vinay Mohan Kwatra, Prime Minister Narendra Modi’s visit to Denmark will present India with an opportunity to build new components of partnership in the fields of skill development, shipping, agri-technology, and mobility.
Prime Minister Narendra Modi to focus on 3 Ts on his Denmark visit:
1. Trade: PM Modi will be addressing the India-Denmark business forum. More than 200 danish companies are already present in India. Now, the focus will be on attracting more investments under the ‘Make in India’ initiative.
2. Green Technology: Both PM Narendra Modi and Danish PM Mette Frederiksen will review the progress made so far on the green strategic partnership. Denmark on one side has technology and expertise in green infrastructure, on another side India has scale, and both can complement each other to make this planet greener. During the Joint S&T Committee meeting on January 14, 2022, India and Denmark had agreed to begin joint research and development on green fuels, including green hydrogen.
At the virtual conference, the Joint Committee examined both nations’ national strategic priorities and advancements in Science, Technology, and Innovation, with a special emphasis on green solutions of the future – plan for investments in green research, technology, and innovation.
3. Talent: Denmark is the big market for India’s talent. Creating opportunities for Indian talents will be the focus area. PM Modi will also be addressing the Indian diaspora. Denmark has a strong Indian diaspora of more than 16,500 people
India and Denmark’s bilateral trade in products and services has increased by 78%, from USD 2.8 billion in 2016 to USD 5 billion in 2021. According to Denmark Statistics, the overall volume of bilateral goods and services trade between India and Denmark increased to roughly USD 5 billion in 2020, up from USD 3.6 billion in the previous year. In 2021, Indian exports totaled USD 2 billion, up from USD 1.8 billion in 2020, while imports totaled roughly USD 3 billion, up from USD 1.8 billion in 2020.
According to the Department for Promotion of Industry and Internal Trade (DPIIT), total direct investment inflows from Denmark to India totaled USD 677.02 million between April 2000 and March 2021. Around 200 Danish firms have made investments in India in industries such as shipping, renewable energy, the environment, agriculture, food processing, and smart urban development. Several large Danish corporations have developed new manufacturing facilities in India as part of the ‘Make in India’ initiative.
The scheduled meeting will further enhance the convergence of collaboration between the two countries.
