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India’s Exports to Nordic Countries Surge

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Piyush Goyal Invites Partnerships in Key Sectors, Pharmaceuticals, Food Processing, Renewable Energy, IT, AI, Supply Chain and Logistics

New Delhi, India : India’s exports to the Partnerships region have witnessed a significant rise in recent years, highlighted Union Commerce and Industry Minister Piyush Goyal during the 2nd CII India Nordic-Baltic Business Conclave 2023 held today.

Goyal emphasized that India’s exports to the Nordic region have expanded by over 39% between 2018-19 and 2022-23, with exports to Finland and Norway soaring by over 100% and 80%, respectively. He attributed this growth to the growing popularity of Indian cuisine, Bollywood, yoga, Ayurveda, and textiles in the Nordic-Baltic region.

In his address, Goyal underscored the immense potential for collaboration between India and the Nordic-Baltic nations in sectors such as pharmaceuticals, food processing, renewable energy, information technology, artificial intelligence, supply chain, and logistics. He pointed to India’s remarkable progress in these areas and its status as an economic powerhouse with vast mineral resources and a talented workforce.

Addressing the gathering, Goyal invited Nordic-Baltic companies to participate in upcoming trade fairs in India, including BharatTex, which will take place from February 26 to 29, featuring over 3,500 exhibitors from nearly 40 countries. He also highlighted the Bharat Mobility Show, scheduled from February 1 to 3, showcasing the automotive industry with a special focus on electrical components.

The conclave witnessed valuable insights from leaders of the Nordic countries, including Benedikt Hoskuldsson, Special Envoy for Climate at Iceland’s Ministry of Foreign Affairs; Mariin Ratnik, Deputy Minister for Economic and Development Affairs of Estonia; Jurģis Miezainis, Parliamentary Secretary at the Latvian Ministry of Economics; Egidijus Meilūnas, Vice Minister of Foreign Affairs of Lithuania; Andreas Motzfeldt Kravik, Deputy Foreign Minister of Norway; Ville Tavio, Minister for Development Cooperation and Foreign Trade of Finland; Niklas Wykman, Minister for Financial Markets of Sweden; and Aksel Vilhelmson Johannesen, Prime Minister of the Faroe Islands.

The event concluded with a renewed emphasis on strengthening ties between India and the Nordic-Baltic region, fostering innovation, and promoting shared prosperity.

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