Denmark is setting up an innovation centre in Bangalore, extending the co-operation between the two countries to address the talent shortage and innovate frugally. This is expected to be operational by September. “India, with its ability to develop low-cost applications and technologies, can be the gateway to Africa. This is a just small step, but we hope for an extended collaboration with Indian corporates and institutions…,” said Danish Ambassador to India, Freddy Svane. It would recruit about eight people — six from India and two from Denmark — for the innovation centre. Denmark is also inviting Indian firms to set up operations in the country. At present, the Nordic country’s trade with India is just one per cent of its total trade and largely comprises pharmaceutical products.
At present, there are about 25 Indian companies in Denmark that has a population of just 5 million. Of the total 25 companies, 20 are IT companies, including Tata Consultancy Services (TCS), Cognizant Technologies, L&T Infotech and Mahindra Satyam among others. TCS, with its Co-Innovation Network or COIN, has been present in the Danish market for more than 19 years, and the Nordic region for the past 22 years. “All Nordiac countries have strong and stable economy, and are also wealthy and politically stable nations,” said Helge Pedersen, Global Chief Economist at the Scandinavian bank Nordea.
-Hindu Business Line