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India and the Nordics - An Emerging Hotspot for Businesses

January 12, 2022 1606 0 Global Trade

India and the Nordics -  An Emerging Hotspot for Businesses

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.

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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.

Key takeaways:

  • The volume of inquires made by Nordic businesses on Indian businesses grew at a Compound Annual Growth Rate (CAGR) of 107% between 2017 and 2021
  • The volume of inquiries made by Danish businesses on Indian businesses grew at a CAGR of 84% between 2017 and 2021. Chemicals manufacturing sector received the highest volume of inquiries
  • The volume of inquiries made by Finish businesses on Indian businesses grew at a CAGR of 110% between 2017 and 2021. Primary metal products manufacturing sector received the highest volume of inquiries
  • The volume of inquiries made by Norwegian businesses on Indian businesses grew at a CAGR of 148% between 2017 and 2021. Food and kindred products manufacturing sector received the highest volume of inquiries
  • The volume of inquiries by Swedish businesses on Indian businesses grew at a CAGR of 148% between 2017 and 2021. Industrial and commercial machinery, and computer equipment manufacturing sector received the highest volume of inquiries

Download the whitepaper to know more.


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