Executive Summary
Business relations between India and the Nordic countries trace back as early as the 1600s, when a trading post was established in the Indian town of Tharangambadi. Since then, the ties have deepened and over the last few years, bilateral trade and investments have increased significantly between India and the Nordic countries.
Dun & Bradstreet data shows that Nordic companies have at least 244 subsidiaries in India and Indian companies have at least 233 subsidiaries and affiliate companies in the Nordic countries. Business relationships were further cemented by the India-Nordic Summit that took place in 2018 and various other diplomatic visits in the last few years. These ties are mutually beneficially for both India and the Nordic countries.
With the third largest gross domestic product in terms of purchasing power parity, India offers a huge external market and a diverse workforce for the Nordic companies. On the other hand, Nordic countries have consistently ranked high on innovation and clean energy initiatives. Knowledge transfer and spillover effects resulting from bilateral trade and investments will have a positive effect on Indian companies.
This whitepaper aims to bring to the surface the trends in business activity at the sector level. We hope this whitepaper will be a valuable source of information for business leaders and supply chain managers in identifying investment opportunities and potential trading partners.