Exports to Nordic Countries Up significantly, Says Minister

New Delhi: Addressing the second CII India Nordic Baltic Business Conclave in the national capital, Union Minister of Commerce said, “there is a huge scope of cooperation in Pharmacy, Food Processing, Renewable Energy, IT, AI, Supply Chain and Logistics with Nordic-Baltic countries”.

In his address, Mr. Piyush Goyal said that Nordic-Baltic nations have best of innovation, green tech, AI & blockchain-led transformation, supply chain logistics & fintech and these are the areas where there is a huge scope for collaboration with India as India has made great strides in these areas besides being an economic powerhouse with vast mineral resources and talent pool. Speaking in presence of leaders of the Nordic countries, Shri Goyal said that it’s an exciting era of collaboration, innovation & shared prosperity with similar outlook towards global challenges & opportunities.

‘India’s exports to Nordic regions has increased significantly in recent years’, said Piyush Goyal, Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles while addressing 2nd CII India Nordic-Baltic Business Conclave 2023 on Wednesday.

However, earlier to this External Affairs Minister S Jaishankar also said that India’s relationship with the Nordic-Baltic countries is truly promising and there are natural synergies between the regions that paves the way for expanding and deepening our relationship further.

At 2nd CII India Nordic Baltic Business Conclave, External Affairs Minister @DrSJaishankar says "…With #Sweden , our leadership for industry transition initiative has been joined by 18 nations and 19 major #global companies and it has clearly borne fruit in the last few years.… pic.twitter.com/7Gk5uG2KdB

— Dr. Shahid Siddiqui (@shahidsiddiqui) November 22, 2023

Mr. Jaishankar further underscored the increased mobility between India and Finland, citing direct flights that facilitate movement between the two countries. He also mentioned the establishment of institutional frameworks with NB8 countries to promote closer business-to-business cooperation, particularly with Finland, where sustainability partnerships, digitalization, and education dialogues have been initiated.

“With Denmark, our green strategic partnership is strengthening, facilitating collaborations in water solutions, wind energy, green hydrogen, and agriculture. We also look forward to stronger cooperation with the Faroe Islands and with Greenland,” Jaishankar noted regarding India’s relations with Denmark.

Highlighting the LeadIT initiative, he mentioned its success in the past few years, with 18 nations and 19 major global companies joining India’s leadership for industry transition with Sweden. “More than 260 Swedish companies are in India, working in innovation, construction, defence, and clean technology,” he added.

–Dr. M Shahid Siddiqui (PhD), Follow via X (Twitter) @shahidsiddiqui

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