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Home Investment

Danish companies to invest in Gujarat and Tamil Nadu

Fiinews by Fiinews
October 14, 2021
in Investment, Manufacturing, Technology
Reading Time: 4 mins read
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Prime Ministers Frederiksen and Modi in New Delhi.

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UNLEASH initiative will be launched in Bengaluru in 2022

Danish companies will manufacture and invest in technology in Gujarat and Tamil Nadu as part of India’s renewable energy programme following Prime Minister Mette Frederiksen’s state visit 9-11 October 2021.

Frederiksen and Prime Minister Narendra Modi, as host, highlighted the extensive and broad-based collaboration in the field of energy; including wind power, power modelling and grid integration, which has expanded at an impressive pace since their Virtual Summit in September 2020.

The Prime Ministers agreed to focus on ways to augment and consolidate green and low carbon growth as reflected in the 5 year Action Plan. This includes: water; environment; renewable energy and its integration into the grid; climate action; resource efficiency and circular economy; sustainable and smart cities; business; trade and investments including cooperation on Intellectual Property Rights; maritime cooperation, including maritime security; food and agriculture; science, technology and innovation; health and life science; cooperation in multilateral organizations; as well as cultural and people-to-people relations.

The two Prime Ministers agreed to enhance the commercial cooperation with new technologies, in particular green hydrogen, E-mobility and storage, said a joint statement on 9 Oct 2021. It detailed Five-Year Action Plan for the Green Strategic Partnership.

The two Prime Ministers noted the active global collaboration on new green energy technologies, including under EU Horizon Programs and Mission Innovation, and emphasized the Indian-Danish collaboration for low emissions as well as in the planned joint call for research and development projects in the area of green fuels, including green hydrogen.

The Prime Ministers agreed that transfer of innovative and affordable technologies is vital for the promotion of low carbon energy and industry transition. The Prime Ministers expressed a common ambition to expand the commercial cooperation within energy to include e-mobility, offshore wind, fuel-technologies, including green hydrogen and green methanol, among others.

Both Prime Ministers stressed the importance of collaboration in the water sector and welcomed initiatives between the two governments in the field of urban and rural water, wastewater management and river rejuvenation.

The Prime Ministers noted the possibility of upscaling activities in the fields of water supply, wastewater management and river rejuvenation from city level to state level/basin level and encouraged further exploring this option with the relevant authorities. The two acknowledged that collaboration can improve the sustainable water supply including reducing water loss, water resource management and transition from wastewater handling to resource recovery in India.

Prime Minister Frederiksen referred to the Danish ratification of the International Solar Alliance (ISA), noting the significant potential of this initiative to contribute to the collective universal climate action, including by combining efforts to promote all sources of renewable energy.

As India and Denmark are Members of LeadIT, both Prime Ministers also agreed to pursue cooperation on hard-to-abate sectors in relation to the Leadership Group on Industry Transition.

The two Prime Ministers noted that the UNLEASH initiative will be launched in Bengaluru in 2022. This will support the role of the youth in fostering entrepreneurship necessary for reaching the Sustainable Development Goals.

Likewise, the two Prime Ministers welcomed the sustainable water entrepreneurship initiative under the Niti Aayog – Atal Innovation Mission and Innovation Center Denmark ‘Water Challenge’ in 2022 and 2023.

The two Prime Ministers welcomed the steps already taken to implement the Green Strategic Partnership, including the 3-year work plan on sustainable water supply in support of the Jal Jeevan Mission, the Letter of Intent dated 5 July 2021 between the Ministry of Housing and Urban Affairs and the Government of Denmark in the field of sustainable and smart urban water sector as well as the Memorandum of Understanding between the Centre for Ganga River Basin and Management Studies, Indian Institute of Technology, Kanpur (cGanga), and Innovation Center Denmark, Government of Denmark, to support the development of technological solutions for a clean Ganga river.

The two Prime Ministers witnessed the exchange of the following new agreements:

Traditional Knowledge Digital Library Access Agreement between Council of Scientific & Industrial Research and Danish Patent and Trademark Office.

Joint Letter of Intent between Ministry of Skill Development & Entrepreneurship, India, and the Danish Government.

MoU between Council of Scientific & Industrial Research – National Geophysical Research Institute, Hyderabad, Aarhus University, Denmark and Geological Survey of Denmark and Greenland on mapping of ground water resources and aquifers.

MoU between Indian Institute of Science, Bengaluru and Danfoss Industries Private Limited to establish a Centre of Excellence towards natural refrigerants for tropical climates with potential applications.

The Prime Ministers reiterated the importance of strengthened multilateral cooperation to effectively tackle COVID-19, including the need to reform and strengthen the WHO and international emergency preparedness as well as to build back better and greener.

The two Prime Ministers acknowledged the India-EU Leaders’ Meeting hosted by Portugal in May 2021 as a new milestone in the India-EU Strategic Partnership and welcomed the decision to resume negotiations of an ambitious, balanced, comprehensive and mutually beneficial India-EU Free Trade agreement and launch negotiations on a separate investment agreement. The Prime Ministers underlined the need to start the negotiations at the earliest. They also welcomed the India-EU Connectivity Partnership and agreed to collaborate bilaterally and at the EU level to promote connectivity projects.

List of other pacts:

MoU between Reliance Industries Limited and Stiesdal Fuel Technologies on the development of the Hydrogen Electrolyzer and the subsequent manufacturing and deployment of the Hydrogen Electrolyzer in India.

MoU between Infosys Technologies and Aarhus University to establish a‘Center of Excellence for Sustainability Solutions’ based in Denmark.

MoU between the ‘Observer Research Foundation’ and ‘State of Green’ on strategic cooperation to promote knowledge-sharing on solutions and facilitate research on the green transition of the economy. #investment #technology #projects #development #manufacturing #economies /fiinews.com

Tags: The Prime Minister's Office
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Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

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