National Association of Software and Services Companies (NASSCOM) in partnership with Invest in Denmark, a Govt of Denmark entity launched a Danish market opportunity report tailor-made for Indian companies looking to expand in the Nordic region with Denmark acting as a gateway to the NORDICS. The report opens a gateway for the Danish market, which has high potential but is under-penetrated and lesser engaged, and is a part of NASSCOM strategy to diversify beyond the traditional US, UK and Continental European markets.
The report launched in the presence of the Joint Secretary Meity Shri Bhuvnesh Kumar, aims to facilitate a macro-overview of the Danish IT Sector, including nuances of operating and servicing the broader Nordic region. It has been developed based on empirical inputs from a number of key stakeholders from Denmark & India. It also helps raise awareness of Denmark’s economy & IT landscape and talks about opportunities cutting across industry sectors for large, medium, and small Indian tech players. Further, the report provides recommendations on strategies and business models to explore the market and importantly a deeper understanding of Denmark’s business culture and do’s and don’ts of undertaking business in the region.
Commenting on the launch, H.E. Freddy Svane, Ambassador of Denmark to India said ‘India and Denmark have never been closer. The recent visit of PM Modi to Denmark not only further strengthened ties with Denmark but also with the region as a whole. There are a number of Indian IT companies in Denmark, already bringing tremendous value to the Danish economy and helping enhance the competitiveness of the Danish Industry. With a strong focus on digitalization in both the countries and a partnership around Green & Sustainable Technologies, we are seeing new opportunities emerge’.
“The report intends to create a well-informed starting point for Indian technology companies that are interested in serving the Nordic market with Denmark acting as a gateway. Nordic region is not only an early adopter of technology but also home to some of the world’s largest and most innovative corporations. The fact that English is the business language, with more than 50 companies with revenue above USD 10 Billion and about 250 above USD 1 Billion underscores the potential for a tremendous win-win partnership between the Nordic and Indian tech ecosystem.” said Shivendra Singh, Vice President & Head Global Trade, NASSCOM.
The report has been developed by Poul Tokkesdal ApS, an independent IT Consulting outfit from Denmark with directional inputs from NASSCOM & INVEST IN DENMARK. It is supported by the Ministry of Electronics & IT (Meity) and pays specific attention to the role of Indian technology players in Danish economy, their historical contributions and potential for the future.