The Council of EU Chambers of Commerce mounted a Business Delegation to Riga, Stockholm, Gothenburg and Copenhagen from May 23 to June 2, 2017
The delegates visited three Countries in ten days, B2B Meetings in Riga, Gothenburg & Copenhagen. Tremendous support was extended by Indian Embassies in respective cities and Chambers of Commerce in these cities.
Meetings were organized by local government authorities , Delegates participated at Latvia & India Conference inaugurated by H.E. Mr. Arvils Ašeradens, Deputy Prime Minister and Minister for Economics of the Republic of Latvia, and H.E. Mr. M.J. Akbar, Minister of State for External Affairs of the Republic of India. Representatives were of apex business forums, Central and State Governments, and business community of the two countries. Two day Conference was held and number of parallel seminars and round tables were organized which covered several prime sectors to promote mutual trade and investments, with greater focus on promoting Indian Exports to the European Union (EU), Russia, and the CIS, Receptions by Indian Ambassador, 11 member delegation comprised from different sectors such as Automobile, shipping, engineering, education & Information Technology , Delegates have fruitful meetings and some are in negotiation.
Other important highlights were Signing of MOU Latvian Chamber of Commerce & industry and the Council of EU Chambers of Commerce in India, Signing of MOU Confederation of Danish Industry and the Council of EU Chambers of Commerce in India.
Capt. Avinash Batra, LEADER OF THE DELEGATION Chairman, Seahorse Ship Agencies Pvt. Ltd, Mr Deepak Shinde, Director, PROTO-D Engineering, Mr Pradip Lokhande, Director,PROTO-D Engineering, Mr Sumit Kumar Bagrecha, Director, -D Engineering,
Mr Ashwini Kumar Joshi, Director, Shaunak Engineering, Mr. Hardik Chandulal Khatri, MD & CEO, Avtaran Capital Advisors Private Limited, Ms. Chandana Pai, General Manager Strategic Alliance & Business Development, Assistant Professor, Welingkar Institute of Management, Mr. Manikandan Sethuraman, Marketing Manager, Bhooma Engineering Private Limited, Mr. Kishor Godse, Director ,Proto Technology Solutions, Dr. Vandana Jolad Shivangi, Founder & MD, VIaTAL Pharma Consultancy, Dr .Renu Shome, Director, The Council of EU Chamber of Commerce in India.
RIGA May 23, 2017
The delegation was received by officials of the LIAA -Investment and Development Agency of Latvia. They organized a brief city tour.
A Talk on India’s Global Vision: A Foreign Policy Perspective by Mr M J Akbar, Minister of State for External Affairs of India followed by Dinner Reception.
Mobashar Jawed Akbar said that India has been seeing rapid economic growth over the past years, and the upcoming Latvia-India Business Forum is a vital step towards closer cooperation. It was noted with appreciation that the interest of young people from India in Latvia’s higher education institutions is increasing year by year – there were 750 Indian students in Latvia at the beginning of the current academic year. M J Akbar emphasized that cooperation in education and science is conducive to closer relations between the States. The meeting also addressed matters concerning cooperation in international organisations, and topics high on the international agenda. The ministers strongly condemned violence and international terrorism, especially in light of the Manchester terror attack on May 22.
May 24, 2017
The Conference was inaugurated by Minister of State for External Affairs Mr. M.J. Akbar and the Latvian Deputy Prime Minister and the Minister of Economics Mr. Arvils Ašeradens at the Latvia-India Business Conference on May 24, 2017 said India is becoming an increasingly important foreign trade partner to Latvia. He appreciated the successful development of Latvia-India relations and emphasised the need for a continued exchange of high level visits. In the context of the promotion of economic cooperation, the ministers noted in particular the potential for contacts in the sectors of IT and the transport and logistics.
A large number of Indian businessmen who participated in a Latvian-Indian business conference in Riga attests to the importance of economic cooperation between the two countries said the Deputy Prime Minister. “The Latvian-Indian dialog has been developing successfully, and both countries are interested in closer cooperation, including in organization of mutual high-level visits
The dialog between Latvia and India needs to be further expanded in such areas as education, information and communications technology, transport and logistics, said Deputy Prime Minister, urging Indian businessmen to make use of the advantageous geographic position of Latvia and the country’s developed transport infrastructure.
He also expressed satisfaction at the increasing number of student and lecturer exchanges and implementation of various Latvian-Indian cultural cooperation projects.
The MoU was signed between The Council of EU Chambers of Commerce in India and Latvian Chamber of Commerce & Industry
Capt Avinash Batra, Governing Board Member of the Council of EU Chambers and Mr Aigars Rostovskis President of Latvian Chamber of Commerce & Industry signed the MoU. Both the leaders assured for further facilitations of trade & investment for the Indian & Latvian companies. They said by signing MoU the wide range of avenues would be opened up which would be beneficial to both the stakeholders.
The Latvia & India Conference focused on six major areas. The brief summary of each session is given below:
INVEST IN INDIA: MAKE IN INDIA
- ‘‘Make in India’ launched in September 2014 is a major national initiative designed to facilitate investment, foster innovation, enhance skill development, protect Intellectual Property and build best-in-class manufacturing infrastructure.
- ‘Make in India’ focuses on the following twenty-five priority sectors of the economy to boost investments into India: Automobiles; Automobile Components; Aviation; Biotechnology; Chemicals; Construction; Defence manufacturing; Electrical Machinery; Electronic systems; Food Processing; Information Technology and Business Process Management; Leather; Media and Entertainment; Mining; Oil and Gas; Pharmaceuticals; Ports and Shipping; Railways; Renewable Energy; Roads and Highways; Space; Textiles and Garments; Thermal Power; Tourism and Hospitality; and Wellness.
- ‘Make in India’ provides with a road map for the single largest manufacturing initiative aimed at substantially raising the contribution of the manufacturing sector to India’s GDP.
- India is the fastest growing economy globally with a GDP growth rate of over 7% in 2016 and a per capita income that has grown ten-fold.
- India’s strategic geographic location, availability of cost effective young, talented and experienced workforce, and huge domestic market make it a highly favourable choice for manufacturing in India for India and to export to global markets abroad.
- Foreign Direct Investment (FDI) increased to US $130 billion since April 2014 to September 2016; a 29% of cumulative FDI inflow into India since April 2000. This marks a tremendous increase in FDI inflows into India despite reduction in global FDI inflows.
- A number of global reports and assessments, over the last two years, have shown that India has considerably improved its policies, practices and economic profile. India has become the sixth largest manufacturing country in the world, up from ninth
- To provide an investor-friendly environment, the Government of India has been streamlining its regulations and tax systems, including the ‘Goods and Services Tax’ (commonly known as ‘GST’) which is a system of indirect taxation in India merging most of the existing taxes into single predictable system of taxation and is likely to be implemented soon.
LATVIA, A GATEWAY TO EUROPE FOR INDIAN BUSINESSES: LOGISTICS AND TRANSPORT
Capt Avinash Batra, Governing Board member of the Council of EU Chambers and Honorary Consul of Latvia in Mumbai briefly talked about the Council of EU Chambers activities and said in past Chambers had organized meetings to promote the business between India and Latvia. He also talked about the India and Latvia relations and said both enjoyed long friendly relations and committing to similar democracy, human values, mutual cooperation in the fields of Culture, Education, Yoga, Traditional medicine (Ayurveda), Music and Dance. Further he elaborated on Indian economy stating that it is the fastest growing economy in the world and its GDP is expected to be 7.-7.5 %. India’s demographic dividend is a beacon of hope More than 50% of India’s population is below age of 26 in comparison to other Asian countries. And by 2020, India will have median age of 29 and growth of aspiring middle-class, meaning more of buyers for good and services. In coming years, India is set to become the world’s youngest country with 64% of its population in the working age group, adding a significant 2 per cent to the GDP growth. Capt also talked about Indian govt thrust on infrastructure projects such as Golden quadrilateral network of roads & highways, Dedicated Freight Corridors – creation of inland cargo hubs, cargo distribution centres, cold storage and warehousing facilities, Enhance maritime Infrastructure and create jobs and Green logistics -waterways & Rail. He talked about Sagarmala project which is a strategic and customer-oriented initiative of the Government of India to modernize India’s Ports so that port-led development can be augmented and coastlines can be developed to contribute in India’s growth.
- Latvian side expressed its full commitment to cooperate with Indian partners in order to develop a competitive transport and logistics proposal on the given route. President & Chairman of Latvia Railways Board said Latvian Railway” could enhance India’s connectivity within Eurasia and how to synchronize it with other transport corridors within the region, especially the International North–South Transport Corridor (INSTC) for moving freight between India, Iran, Central Asia, Russia and Europe.
- Latvia, with its three free ports, is situated in close proximity of affluent economies of Europe and Russia. The entire European Union – being borderless and allowing free movement of labour, goods and services – is projected as a single entity for the purpose of trade and commerce. With one of the cheapest logistic facilities in Europe, Latvia serves as a gateway to Europe, Russia, CIS and other Baltic countries. Latvia as a member of Schengen Visa Regime facilitates free movement within Europe’s Schengen Area in which internal border checks have largely been abolished. Automated Latvian ports offer good Ro-Ro connectivity, inter alia, to Scandinavia, Germany and Russia. Latvia is a partner country in the EU’s high speed ‘Baltic Rail’ project connecting Berlin (Germany), Warsaw (Poland), Kaunas (Lithuania), Riga (Latvia), Tallinn (Estonia), St. Petersburg (Russia), and Helsinki (Finland). Efforts are also on to develop India-Baltic Rail Corridor. Latvia, thus, holds a vital position in Europe.
- There are excellent opportunities for Indian manufacturers and exporters to make Latvia a distribution hub for their businesses and avail of efficient and affordable connectivity to transfer goods within EU, Russia, CIS and other Baltic countries.
- Latvia offers good opportunity to Indian companies to participate in infrastructural development in Latvia being funded by EU. Indian companies seeking to establish industries in Latvian free ports/SEZs can avail of subsidy on their investments in plant and machinery in addition to substantial tax rebates. Indian Industries can avail of EU funding for advance research activities in Latvia. The Indian film industry seeking to use the Latvian studios can also avail of subsidy. Further, Latvia offers liberal immigration schemes to attract Foreign Entrepreneurs.
Technology: Innovation and Research & Development
- An excellent opportunity for Indian, Latvian and global companies, industries, agencies, academia and financial institutions to form partnerships to conduct innovative research in varied products and services, including in, but not limited to, fields of Oil & gas, Consumer goods, Technology services, Healthcare, Telecommunication, Utilities, and Automotive.
Life Sciences: Partnerships in Healthcare, Pharmaceuticals, Medical Devices and Biotechnology
- A good health is a major cornerstone for wholesome and happy personality, as well as for the sustainable economic growth and the social stability in every country. Innovative modern technologies and integrative approach to the health care aims to practice a new paradigm of medicine – one concentrated on complete restoration of a patient’s health in sustainable and scientific manner.
- India has a long history in the Life Sciences sector. India is the world leader in generic medicine. Its manufacturing sector is mature and has one of the largest FDA approved manufacturing facilities in the world. India has highly skilled manufacturing workforce and a large number of trained R&D scientists in both pre-clinical and clinical development. India is the manufacturing hub for vaccines and one-in-two children in the world are vaccinated by vaccines made in India. Biotechnology is a rapidly growing area in India and will soon be a US $20 billion industry. India is making great strides in R&D in drug development trying to bring affordable innovation in Medicine. India is also emerging as a hub for cost-effective R&D and clinical trials.
- Latvia has developed R&D capabilities and established manufacturing infrastructure. It has a strategic geographic location. Its close proximity to Eastern and Western European markets is an advantage for companies looking to enter Europe. They can do so via Latvia. Latvia’s competitive workforce is an added advantage for partnership in Life Sciences space.
- There is a growing popularity and importance of Ayurveda and Yoga in Latvia. Cooperation in the field of integrated systems of medicine, including Ayurveda and Yoga, and setting up a Chair of Ayurveda and an AYUSH Information Cell at the University of Latvia are just two examples to mention. Latvian Universities are keen to establish collaborative relations with Indian Universities as well as to receive students from India. India is the second largest exporter of Ayurvedic and alternative medicines in the world. 100% Foreign Direct Investment (FDI) is permitted in the AYUSH sector. European Union (EU) has indicated integrative medicine among areas that are priorities for innovative and sustainable economic development and has included it in the list of eligible financial investments. Consequent to Latvia’s accession to the EU, Indian companies can access the EU market through investment in Latvia. Its geostrategic location as a potential gateway to the CIS countries as well as Russia along with its excellent all weather ports add to the potential.
- The strength in the Life Sciences sector for both India and Latvia is mutually advantageous.
Higher Education Collaborations and Industry-Academia Partnership for R&D and Innovation
- There is an increase of Indian students in Latvian universities
- In the beginning of 2016 / 2017 academic year 750 students from India were studying in Latvia, an increase of 300 compared to the previous year. Majority of them studied engineering, management, medicine and information technologies
- Low cost higher education in Latvia. Opportunity for Indian students to study in Europe
- Opportunity for Indian professors and lecturers to teach in Europe
- Possibility for creating Students and Faculty Exchange Programmes
- Academia-Industry partnerships for R&D and innovation
- Ayurvedic research and study programmes.
Information and Communication Technology: ICT Partnerships
Latvia has one of the fastest telecommunication infrastructures in the world, offering companies a swift connection with customers and partners abroad. Therefore, interlocutors discussed the idea of Indian ICT companies to develop the presence in Latvian market, by creation of joint solutions that would expand the bilateral cooperation
- India’s strength in ICT sector, including e-Governance, and Latvia’s geo-strategic location in Europe and low cost logistics in Latvia are ideal to forge partnerships between relevant Indian and Latvian companies to provide services in the region.
- India’s IT-BPM (Information Technology and Business Process Management) sector accounts for largest share in total Indian services export (45%).
- IT-BPM sector accounts for 56% of the total global outsourcing market.
- India has 640 offshore development centers in more than 80 countries.
- Indian IT & BPM industry is expected to grow to US $300 billion by 2020.
- IT-BPM sector constitutes ~ 9.3% of India’s GDP.
- IT-BPM is the largest private sector employer – delivering 3.7 million jobs.
- Rapidly growing urban infrastructure has fostered several IT centers in India.
- Favourable Indian government policies and incentives to facilitate investments in IT sector.
- With the presence of skilled manpower, India is home to a large number of IT professionals. ▪
May 25, 2017
Delegates have site visits
Riga Technical University and Latvian Railways
The meeting was attended by Mr Eriks Smuksts, Vice President, Mr Ainis Sturmanis, Vice President, Mr Verners Lusis, Chairman of the Board & MD of LDz Logistika Pvt Ltd, Mrs Svetlana Berga, Chairman of the Board & MD of LDz Cargo Ltd, Mrs Sandra Caune, Head of Development, Mrs Silvija Dreimane, Head of International Relations and Protocol Divisions, Communication & International Relation department .
- India and Latvia have been historically linked by the ancient route called Amber Way. Latvian Railways, the state owned railway company plans to translate these connections by expanding its freight territories through India. India’s role in the world is increasing and India needs new markets for its good. Therefore, we are working on possibilities to develop new routes because freight flow from India to Europe leads through Iran, Azerbaijan, Russia, Georgia and Belarus. We are ready to supplement this logistics chain and ensure further movement of freight to the north of Europe (Scandinavia0 as well as to deliver the frights to ports of Europe swiftly and efficiently.
- Latvian Railways offers favourable logistic tariff and fast transportation at the same time also taking care of customs formalities. By delivering freights to the port of Latvia, wide possibilities open up for Indian entrepreneurs to also enter other European markets . Whereas the development of joint logistics solutions in this region could create wider opportunities to increase the added value for goods, by sorting, packaging, providing further distribution etc. from the ports of Latvia.
May 26, 2017
Meeting at the Indian Embassy in Stockholm, Sweden
The Indian Embassy organized a meeting in honour of visiting Indian delegation at the Embassy premises. Mr Sanjoo Malhotra, CEO of India Unlimited made presentation highlighting the opportunities in Sweden in various sectors. The meeting was followed by lunch.
May 27, 2017
Site Visits include Vasa Museum, Royal Palace & Nobel Museum
May 29, 2017
Meeting with West Sweden
Mr Jesper Öhrn, Head of Trade & International Business Development, West Sweden Chamber of Commerce ( WSCC) welcomed the Indian delegation and briefed about the activities of the WSCC.
He said compared with other EU member states, Swedish municipalities, county councils and regions have wide-ranging responsibilities. He said there are 290 municipalities and 20 county councils. The responsibilities are as:
County Councils / Regions responsible for Health Care,Dental Care,Regional services. Transports etc. & Culture
Municipalities responsible Childcare and preschools, Primary and secondary education, Elderly Care, Social services, Water supply and sewerage, Infrastructure, traffic, public transport, Plan and environmental issues, Rescue services and emergency preparedness
Other (voluntary)- Housing; Industrial , commercial services etc.
Mr Öhrn said the vision of the WSCC is to make A West Swedish Industry of World Class
and tagline is Making West Sweden Stronger. Established in 1661 with a objective to promote/support & represent the West Swedish Industry
WEST SWEDEN CHAMBER OF COMMERCE is a service focused organisation with
2 870 member companies, 82 employees, Politics/Advocacy & Services,Turnover EUR 7,5 million, 50% on commercial (non subsidized) services, 6 Regional offices (incl Stockholm),13 business developers / sales representatives,16 persons in marketing support, communication & events,13 persons working with international services,7 persons focusing on politics, advocacy / lobbying
BUSINESS SERVICES includes WSCC has no subsidies and is a private organisation,Services are top ranked on our companies ”wish list”,Services: networking groups; educational training; international business consulting; legal services; documentation, Turnover services is approx. EUR 4 million (50% of total), A modern organization with specialized and business focused employees, We supply our business services to all companies in the region. Members discount on prices – 10% (since 2015)
West Sweden and Göteborg is Home of the multinational industry, 1,8 million people, 18% of the GDP of Sweden, The manufacturing region of Sweden & The port of Scandinavia
An exporting country and an exporting region with a export value and 45% of GDP (OECD 28%)
West Sweden trade approx 20% of all SME´s exporting to emerging markets are based in West Sweden exports are as follow: Europe 863 Billion SEK, North America100 Billion SEK
Africa,32 Billion SEK, Asia146 Billion SEK, Central- & South America24 Billion SEK,
Oceania & Antarctica 13 Billion SEK.
West Sweden imports are follows: Europe 977 Billion SEK, North America 35 Billion SEK,
Asia 124 Billion SEK, Africa 11 Billion SEK, Central- & South America 14 Billion SEK, Oceania & Antartica 3 Billion SEK
There are various region:
Borås region: Digital Commerce – Logistics – Clothing – Textile – Design
Ardagh, Tranemo Workwear, Eton, Svebab
Skövde region: Food Industry – Furniture – Engineering – Sheet Metal
Cejn, Dafgårds, Kinnarps, Källbergs, Rotage
Trollhättan/Lidköping: Automotive Industry – Air/Space Technology – Engineering, LeanNova, Tooltech, GKN, Fazer Bröd, Petainer
Uddevalla/Stenungsund: Petrochemicals – Plastic/Composite – Shipboard – Tourism, Preemraff, Borealis, Elitkomposit, Gullmarsstrand
Göteborg region: Automotive Industry – Life Science – Shipping/Maritime – Commerce – Creative Industries, AB Volvo, Volvo Cars, SKF, Stena, Astra Zeneca, Vitrolife, Arcam, Nudie, Forsman & Bodenfors, Ghost
Varberg region: Footwear – Bike Manufacturing – Wood, Vagabond, Simplicity, Cycleurope, Derome
He also mentioned that there are 1 million in Göteborg, 3 million in the region & 8 million in the greater region.
There were few more presentations made by Volvo Bus by Mr Peter Nordin & Mr Stefan Widlund and Coach Manufacturing Sweden by Mr Ulf Corne, Automotive and Energy sector – Mr Per Österström, Business Region Göteborg and later on ride on Volvo electric bus to the Opera House.
May 30, 2017
Meeting at the Business Region Goteborg
The delegation was received by Business Region Göteborg. Mr Bernt Svensén, Head of Green Gothenburg, Business Region Göteborg welcomed the delegates and made presentation on Green Gothenburg. He said in 1987, Gothenburg became known as a dirty and polluted city when the Minister for the Environment, Birgitta Dahl, singled Gothenburg and Hisingen out as ”hell’s waiting room” and set up a special delegation – Gothenburg’s Environmental Project. This delegation developed the first all-encompassing municipal environmental programme and gave the business world, politicians, academia and the public a widerange of tasks. All were keen to find solutions to escape pollution and the city’s poor reputation. Many projects and initiatives were implemented. A spirit of cooperation was established – a win-win ideology – where those who were a part of the problem became a part of the solution. The city also worked together with the government, and even the public was involved in several of the projects.
WHAT DEVELOPMENTS HAVE TAKEN PLACE WITHIN INDUSTRY AND THE COMMERCIAL SECTOR?
Thanks to Gothenburg’s Environmental Project, businesses in the region were given a head start in terms of the trend which has gradually spread throughout Sweden and other countries. From being some of Sweden’s biggest polluters, Volvo Car Corporation, SKF, the oil refineries and the chemical industry have developed into companies which offer renewable and environmentally adapted alternative products and services. For a long time now, Volvo Car Corporation has offered vehicles which can run on renewable fuels, are energy-efficient or powered by electricity. Preem and the chemical industry are world leaders in terms of environmental and renewable fuels. New companies with sustainable business concepts have been established within the areas of marine technology/shipping, waste, energy and measurement technology. We can now talk about an upgraded, knowledge-intensive heavy industry 4.0.
WHAT DEVELOPMENTS HAVE TAKEN PLACE WITHIN THE MUNICIPALITY?
During the 1990s, as a follow-up to Gothenburg’s Environmental Project, a wide range of environmental programmes were implemented within the areas of traffic, urban planning, trade, environmental policy and consumer education. In 1996 Gothenburg was awarded the King’s environmental prize as part of The Natural Step’s competition among Sweden’s municipalities. Then in 2000, the municipality took the initiative to establish its own environmental prize: The Gothenburg Award of Sustainable Development. Municipal companies began to be used as tools to create a more sustainable city and region. Göteborg Energy, the Port of Gothenburg, Renova and housing companies were all ordered to contribute to a more sustainable Gothenburg through their commercial operations. This eventually led to some unique results, such as biogas for vehicles, electrical connections for ships, Europe’s cleanest waste truck fleet and waste sorting in apartment blocks.
Gothenburg and the surrounding region are working hard to reduce the environmental impact of traffic, amount of waste and energy consumption. New, ambitious climate and environmental programmes are in progress.
He said emissions from heat production reduced by CO2 (Carbon dioxide) -50%, NOx (Mono-nitrogen oxide) -90%, SO2(Sulphur dioxide) -100%
Greenhouse gas emissions per capita 2050 will be: Other consumption 4,5% (-94%), Food 35% (-56%), Heating 0, 1% (-99%), Electricity 0, 8% (-98%), Public transport 1,1% (-56%), Car 1, 2% (-98%), Aviation 46% (-19%), Public consumption 12% (-87%)
A city of Gothenburg is pioneer in green city bonds with finance sustainable projects. And in 2013, Gothenburg was the first city in the world to employ this model of funding. He also said we involve companies, academia and the City of Gothenburg when we create a sustainable city. We want to share our knowledge with you!
The Business Region Gothenburg three major activities are :Business Development, Cluster & Industry Development and Establishment & investment
The two specialist areas are Business Intelligence Analysis & international relations.
The largest clusters in the region in term of number of employees. The clusters are Infrastructure and logistics, Information and communications technology, Automotive
Life science, Fashion, design and marketing
The Gothenburg region is a logistic hub in Sweden: The biggest port in Scandinavia, International airport, Major new logistics establishments
The Gothenburg region stands strong in global rankings: Fast growing employment by 22,5 % since 2000, 22% of Sweden R&D, 2 universities & 3 science parks & strong industries
Ms Gunilla Bökmark, International department, City of Gothenburg said we work to create conditions for the entire region’s business community by assisting with knowledge, contacts and arenas for collaboration. Business Region Göteborg is responsible for business development in the City of Gothenburg and represents 13 municipalities in the region. She also assured fullest cooperation to assist the visiting companies
Mr Magnus Borelius, Finance office, City of Gothenburg made presentation on Green Bonds. He said with roots stretching back to the days of heavy industry, the Swedish city of Gothenburg has successfully transitioned from an industrial heartland to a global climate leader.
In 2013, the City of Gothenburg became the first city in the world to issue green bonds, which enable it to borrow money for investments that benefit the environment. More than 75% of proceeds from green bonds issued between 2013 and 2015 are used by the city to fund climate change projects that promote the transition to low-carbon and climate-resilient growth.Green bonds issued by cities and businesses are a powerful way to mobilize capital for climate change related investments because, as a fixed income instrument, green bonds leverage the global fixed income (bond) markets, which are a highly liquid source of capital for investment.
There are various Project categories: Sustainable transportation (public transport, bike, shipping infrastructure), Water management, Waste management, Energy efficiency, Smart grids, Sustainable housing (infrastructure, construction), and Renewable energy (solar, wind, wave, bio, waste, hydro) Bio Fuel , Environmental biodiversity, air pollution.
Mr Jacob Minnhagen, Gothenburg City Harbour made presentation on Gothenburg Port. He said it is Scandinavia largest port.
Goods by rail: 70 trains a day, All the way to quayside, Quick transshipment
Rail ports Scandinavia: Links together the port with inland terminals throughout Sweden and Norway, 250,000 Sweden’s biggest export port for cars new cars/year.
Links together the port with inland terminals throughout Sweden and Norway
The services: 8,00,000 containers a year,2,50,000 new cars a year,5,40,000 ro-ro units a year. 1.7 million Passengers a year and also a biggest energy port
Trains save the environment: Reduce emissions of carbon dioxide by 60,000 tonnes, 50 per cent of all containers are transported all over Sweden and Norway by train, Reduce road congestion.
He said according to Magnus Kårestedt, CEO Gothenburg Port Authority our mission is to boost Sweden’s business community “By maintaining, developing and marketing the port as a whole, we create the necessary preconditions for an efficient and sustainable freight hub.”
Mr Stefan Sjögren, University of Gothenburg said School of Business, Economics and Law at the University of Gothenburg is the only “Triple Crown” accredited business school in Sweden!
- One of around 70 business schools in the world (approx. 0.5%)
- Rigorous processes for continuous quality improvement of education, research and collaboration.
- Valuable proof that the School’s activities maintain an internationally high quality and of a strong business school, active in an international arena and continually developing in line with the requirements and changes around us.
This was founded as a private business school in 1923, became a part of University of Gothenburg in 1971. An independent unit within the University in 1986 moved on to a shared campus in 1995. Its own faculty board in 1997 and is accredited by EQUIS since2004. Also accredited by AMBA since2013 and accredited by AACSB since2016
Key ratios 2016: 3,813 full-time students,28,332 alumni,491 employees,123 professors and associate professors,27 partner companies,163 partner universities, SEK 305 million in grants, SEK 165 million in external funding
He talked about Executive MBA programme, Master’s programmes 120 ECTS credits, Single subject courses, International exchange 2016/ 2017
He also talked about India Initiatives and coming up events in India such as CIP forum India –Conference on intellectual property law and finance 2-3 Nov. 2017, Gurgaon, CCR Chair in Development Studies. Professor K N Ninan. Institute for Social and Economic Change. (Indian Embassy in Sweden) Indian Council for Cultural Relations.
There were short presentations Metrum, Regin and Business Region Goteborg (BRG) ICT-
Metrum Sweden founded in 2004 with the intention of creating next-generation power tools and systems. It is an intelligent measurement system for energy and electrical quality
Regin established in 1947, have developed and marketed products and systems that create good levels of indoor comfort. Regin is an important player with one of the market’s broadest ranges for building automation. The goal is to offer comprehensive solutions that save energy in buildings and contribute to a sustainable future.
Regin work with four main categories of customers: distributors, system integrators, installers and OEM-customers.
Mr Erik Behm, Area & Investment Manager ICT, BRG, ICT said Business Region Göteborg AB is a non-profit company that works to strengthen and develop trade and industry in the Gothenburg region. The goal is to contribute to sustainable growth, a high level of employment and diversity in trade and industry in the region.
At Business Region Göteborg AB we focus our efforts on the following specific areas: business development, projects promoting clusters and industries, marketing the region nationally and internationally, creating and collaborating with international networks and providing service and advice to investors and newly established companies in the region.
Visit to Volvo Museum
June 1, 2017
Meeting with State of Green
The meeting was organized by the State of Green for the Indian delegation.
State of Green works to strengthen international awareness of the solutions and competences of Danish business and industry within energy, water, climate adaptation and environment. State of Green is a non-profit, public-private partnership founded by the Danish government, the Confederation of Danish Industry, the Danish Energy Association, the Danish Agriculture & Food Council and the Danish Wind Industry Association. H.R.H. Crown Prince Frederik of Denmark is patron of State of Green.
The various presentations were made. The summary of presentation of Mr Ole S Johansson, Investment Director, IFU is as follows:
IFU is an independent government-owned fund, operating on commercial terms. It promotes economic and social progress in developing countries and provides risk capital and advice for projects having a Danish interest
IFU’s INVESTMENTS AND RETURNS:
- 40 – 50 annual investments, New and additional financing ,Active portfolio of 212 projects, Average commitment of 5 – 7 years, The average annual gross return on share capital (2011 – 2015) -12.3%, Contracted investments in 2015 USD 135 m
- Capital under management USD 865 m, Investments in more than 100 countries 1200
IFU AS A FUND MANAGER:
- Financing: Risk sharing and long-term, Investment horizon, Share capital, Loans, Guarantees, Investment period 6-8 years, Agreed exit
- Advice: Evaluation of business plan, financial structure, Legal set-up, Partner negotiations, Governance/CSR, Access to local authorities & Finding premises
- Strategic partner- Board work, Strategic advice, Additional financing, CSR reporting,
- Network & local presence: Experience from 800 investments in 88 countries, Seven regional offices in Africa, Asia and Latin America, 44 local and regional advisers, Experienced investment teams
IMPLEMENTING SUSTAINABILITY PRINCIPLES IN THE BUSINESS-Labour rights, Human rights, Occupational health and safety, Development of the local community, Anti-corruption, Animal welfare, Environment and climate
The Summary of presentation of Mr Thomas Sylvest, Senior Adviser, Danish Shipping
Danish Shipowners’s Association is established 1884. It is a trade organisation and employers’ organisation. It is represented in Brussels since 1989. Has international cooperation with ICS, ECSA, IMO, etc.
He said Danish Shipping is diverse and in numbers it is as follows:
- Danish merchant fleet 2016: Number of ships: 683, TDW (million): 17.5,GT (million): 15.6
- Employment in DK shipping companies: 2015: 23,221, 2016: 23,497,2017: 23,022
- Danish shipping companies’ exports: 2014(billion): 205.0, 2015(billion): 203.9,2016(billion): 167.6
- Danish shipping companies’ new building programme as of 1 April 2017: Number of ships: 109, TDW (million): 6.5,GT (million): 5.7,Value (billion DKK): 41.5
Danish Shipping in India- Danish vessels call Indian ports approx. 1000 times/year, Danish shipping exports to India amounts to DKK 7,5 billion(2016)
Position on Global key issues- Danish shipping is a stern supporter of free trade, Danish shipping supports free and equal access to international shipping markets, Danish shipping supports the development towards an industry equilibrium – through increased scrapping and greater restraint from new building of vessels.
Mr Neelabh Singh Partner Quercus Group-Advisors in Regional Economic Development. He said Denmark a pioneer in Green Growth since 1980.
Quercus is an advisory in Green Growth established in 2012 with offices in in Copenhagen and Nairobi. Also they have plans to open office in India by mid-2017. They emphasis on 3-helix clusters and cross-border collaborations. Operates within Cleantech, Smart cities and AgribusThe iness. The vision is sustainable global economic growth based upon declining resource consumption
He said Denmark will be fossil free by 2050.
- Entire energy supply (electricity, heating, industry and transport) from renewables by 2050
- More than 35% renewable energy in final energy consumption by 2020
- 50% of electricity consumption to be supplied by wind power by 2020 (2% -1990, 28% -2011)
- 7.6% reduction in gross energy consumption in relation to 2010 by 202
- 34% reduction in greenhouse gas emissions in relation to 1990 by 2020
The key to achieving these ambitions is to ensure different decision makers collaborate, bring academia, public and private actors together around a specific theme. He also talked about case study –Participating in India’s urbanisation agenda -Gateway to 100 Smart cities, Smart City Living Labs ,IUC India (EU Project),Capacity building in Smart Cities, Inclusive Growth (Slums in cities),Citizen engagement and adoption
Mr Naroman-Hansen, Head of Secretariat One-point Entry Service Copenhagen Capacity made presentation on Denmark and Greater Copenhagen. He said it comprises of 1 State ,5 Regions & 98 Municipalities
Key Sectors in Greater Copenhagen- Green Industries, ICT, Supply Chain, Life Science, Food ingredients , Creative industries
In a region great for business
- Number two in the world for worker motivation-IMC 2015
- Talent Hub- Greater Copenhagen has Scandinavia’s largest recruitment base of highly-skilled Danish and Swedish employees and Scandinavia’s biggest pool of private and publicly employed researchers.
- Europe most flexible labour market-Copenhagen offers the most flexible hiring and firing legislation in Europe providing supreme up and down-scaling conditions.
- Low Corporate Tax- In 2016, Denmark has lowered the corporate tax rate to 22% from the 2015 level of 23.5%, placing Denmark below the average OECD and European level.
- Europe’s best country for doing business, 2012-2016
- 4 in the world for readily-available skilled labour–IMD 2015
Five good reasons to locate your business in Greater Copenhagen
- 2 in world overall on talent competitiveness- IMD World Talent Report, 2015
- 2 in the world for worker motivation- IMD, 2015
- 4 in the world for readily-available skilled labour- IMD 2015
- Copenhagen is the most liveable city in the world- Monocle 2008, 2013 and 2014
- 2 in the world for green technology solutions- IMD, 2015
- A seamless, cost-efficient entry into a foreign market requires extensive local knowledge and insight.
- Copenhagen Capacity is Greater Copenhagen’s official organization for investment promotion and business development.
- We are a non-profit organization. Our services are available to all foreign owned companies free of charge and are provided in full confidentiality.
- 20 years of experience have made us experts at what we do.
The summary of Mr Karre Albrechtsen, Head of Sustainable Mobility Section including Copenhagen Electric, The Capital Region of Denmark-
- 9 municipalities ,31% of all inhabitants in Denmark (1.72 million),27% of all light duty vehicles (LDV) in Denmark (~ 800.000),70% of all commuters live in detached houses, Over 90.000 households have two cars, With an EV range of 100 km,85% of all commuters can use EV ,95% with workplace charging
The population rises in and around the major cities. Until 2040, the population of the Capital Region will growth with 300,000 new residents (18% growth)
- That means more transport and thus the risk of more congestion, increased emissions of CO2, more air pollution and more noise
To be a leading green transport region in Europe, with high growth rates and high quality of life
- Climate benefits , Noise reduction, Reduced air pollution, Business development
Bicycles ,Public transportation, Green fuels
Greater Copenhagen target high growth and quality of life Framework Themes Focus
Vision is creating a smart city by 5 elements
-Common Vision and Commitment
– User Driven, Collaborative and Experimenting
– Modern Digital Infrastructure
– Open and Secure Access to Data
– Skilled People
Mr Sekretariatschef Lisbeth Heyde Secretariat Manager , Manufacturing Academy of Denmark (MADE)
MADE Manufacturing Ecosystem:
- Increased competiveness through industrial based research in manufacturing- Strengthening the Danish technical research community
- A network focusing on research innovation and knowledge sharing
- Optimization of education to support manufacturing
Existing Project Platforms
MADE SPIR (Strategic Platform for Innovation and Research)
- Focus: Strengthen advanced manufacturing system
- Partners: 26 industrial partners, 5 universities, 2 RTO’s
- Industrial projects: 26 (increased to 44)
- Duration 2014-2018
- Budget: 24,2 M EUR
- Financing: Industry, Universities, RTO’s, Public and Private Funds and Foundations
Focus of MADE international Collaborations:
- Represent Danish partners in large EU manufacturing platform projects- KIC, Eureka projects
- Sharing knowledge and expertise across EU regions
- Sharing the costs of developing advanced manufacturing technology
- Developing international business relationships- Automation valley (IHK, VDI, VDE, IPEC)
June 2, 2017
Meeting with Confederation Danish Industry
- Confederation of Danish Industry has organized the Business Forum followed by B2B meetings.
- Jens Holst-Nielsen, Director for DI International Market Development welcomed the delegation. He introduced the organization and said the vision of the organization is to have growing, open & affluent society. Based on this vision we want Denmark to be the attractive Country for businesses to work in and from. The mission of the organization is to help businesses to win. When businesses in Denmark win, all of Denmark wins. Members distribution by salary is as follows: production 415, Knowledge Services 18%, Trade 13%, Transport 12%, Services 7%, Energy & Supply 4% and others 5%. Business in percentage basis is : 89% fewer than 100 employees and 11% more than 100 employees. DIs 3 core services are : representation of political interest , Consultancy and Networks. It is the members who govern the Confederation through its committees, boards, network and associations. It is an active and influential player in European businesses
- Thereafter Capt Avinash Batra, leading the business delegation thanked the Danish Industry for organizing the meeting. He introduced the multifarious activities of The Council of EU Chambers and gave insights into the Indian economy.
Signing of MoU
- The Confederation of Danish Industry and The Council of EU Chambers signed the MoU. Both leaders expressed their view by stating that MoU signed between our two organizations will further facilitate trade and investment for our companies. There would be wide range avenues that would open up due to the signing of his MoU which would be beneficial to both the stakeholders.
There was a presentation by the Danish Cleantech Hub which is a public private partnership. They support the visibility and commercialization of Danish city solutions in selected market around the world. Danish Cleantech Hub presents the overall and specific cases that have made Danish cities leaner, cleaner and greener. It cooperates with 3 group of stakeholders Authority, Influencers and distributors. A well-coordinated working relationship between all the involved stakeholders is important to make real impact.
Danish Cleantech Hub’s approach is as follows
- Danish cities share their experiences on how to provide a policy framework that enables the private sector to deliver the required solutions
- Danish companies demonstrate how these solutions work
There was also the presentation by the Danish Manufacturing Industries Cooperation. They are the main office for:
- The manufacturing companies in Denmark
- The Industrial Employers in Copenhagen
- of those they have approx. 1.700 companies as member companies
- Primarily Metal working–or Machine building industry
They support their member companies in:
-Running networks,-Optimize production programs
-Technology issues dealt with-Export program
-Management network and
-Social events, ex. golf tournament
They do have companies producing for the automotive industry, and this includes approval up against the specs for European car manufactures
–Some are within electronics (audio equipment) and some are within metal working (exhaust, components, cooling (refrigerators), radiators, decoration)
Meeting with H. E Mr Rajeev Shahare, Indian Ambassador to Denmark
The delegation had fruitful meeting with Indian Ambassador to Denmark H. E. Mr Rajeev Shahare. Delegates briefly introduced themselves. Ambassador talked about the opportunities in Denmark. He said we are really happy that EU Chamber has decided to bring the delegation here as not many companies chose this as destination to visit for business. He also stressed on the fact that Nordic region should be looked as one unit rather than looking at individual countries as they have lot of complementarities. He also talked about opportunities in IT sector where large numbers of smaller and medium sized Indian companies have come here. Denmark has good incubation scheme not only startup but also for established companies. This is a good way to link yourself with them. He also mentioned education sector also has a good scope. The DTU has much collaboration. He also talked about scope for consultancy as there is huge fund available in this country due to high tax structure. Companies are looking for avenues to park these funds especially pension fund rather investing in venture and country which is safe and assured. In terms of FIIs they have some success stories. He also talked about scope for sustainable energy and said Indian embassy is working towards it to link this with Hon’ble Prime Minister vision of smart cities, swatch Bharat and clean Ganga. These projects are funded by Denmark and one should en cash on this.