This article sets out trade in goods and services between India and Denmark, the main items traded, and investment in both directions. Its figures and company names are taken from the Ministry of External Affairs (MEA) brief on India-Denmark relations of July 2026.

Trade in goods

According to the MEA brief of July 2026, which cites Denmark Statistics, bilateral trade in goods was as follows. The figures are in US$ million, and the brief's table is headed "Calendar Year":

  • 2017: India's exports 1308, India's imports 1116, total trade 2424, growth rate 8.85%, India's surplus 192
  • 2018: India's exports 1546, India's imports 1225, total trade 2771, growth rate 14.32%, India's surplus 321
  • 2019: India's exports 1437, India's imports 1347, total trade 2784, growth rate 0.46%, India's surplus 90
  • 2020: India's exports 1125, India's imports 1032, total trade 2157, growth rate -22.52%, India's surplus 93
  • 2021: India's exports 1329, India's imports 1107, total trade 2436, growth rate 12.93%, India's surplus 222
  • 2022: India's exports 1351, India's imports 876, total trade 2227, growth rate -8.58%, India's surplus 475
  • 2023: India's exports 1027, India's imports 801, total trade 1828, growth rate -17.92%, India's surplus 226
  • 2024: India's exports 1070, India's imports 973, total trade 2043, growth rate 11.76%, India's surplus 97
  • 2025: India's exports 1069, India's imports 985, total trade 2054, growth rate 0.54%, India's surplus 84

The brief adds that, as per recent Commerce Ministry data, Indian exports to Denmark for 2025-26 exceeded the target, with 106% of exports achieved.

Main goods traded

India's major exports to Denmark are textiles, apparels and yarns, vehicles and components, metal goods, iron and steel, leather and footwear, and travel goods. Denmark's major exports to India are medicinal and pharmaceutical products, power generating machinery, industrial machinery, metal waste and ore, and organic chemicals.

Trade in services

During 2025, bilateral trade in services reached US$ 4.25 billion. Exports from India reached US$ 1.9 billion and imports amounted to US$ 2.3 billion.

In 2024, bilateral trade in services was USD 4.0 billion, with imports by India of USD 2.3 billion and exports by India of USD 1.7 billion. The source for these figures is Denmark Statistics.

Danish investment in India

The brief gives two measures of Danish investment in India. As per Denmark Statistics, the value of total direct investment inflows from Denmark to India till 2024 was US$ 2090 million. As per DPIIT data, total Danish investment was US$ 1.413 billion from April 2000 to December 2024.

Around 200 Danish companies have invested in India, in sectors such as shipping, renewable energy, environment, agriculture, food processing and smart urban development. The brief states that several major Danish companies have built new manufacturing factories under the 'Make in India' scheme.

The brief names the Danish shipping group AP Moller-Maersk Group among the major investors, carrying about 19% of India's container trade. Other Danish companies with major investments in India include:

  • Vestas and LM Wind Power;
  • Grundfos, with factories in Ahmedabad and Chennai producing energy efficient water pumps;
  • Danfoss, with factories in Vadodara, Pune and Chennai manufacturing thermostats, compressors and equipment for cold-chains;
  • Carlsberg, FL Smidth Ltd. and Novo Nordisk;
  • Haldor Topsoe, which designs fertiliser factories;
  • Novonesis, AVK Valves, Fertin Pharma, Foss and Knud E. Hansen.

The Danish consultancy firms Ramboll and Cowi have a major presence in India, with about 1800 professionals working on various projects. They have undertaken the design and supervision of many projects, including the Mumbai Trans Harbor Link.

Indian investment in Denmark

As per information from 'Invest in Denmark', the total value of Indian investments in Denmark is estimated at about USD 560 million. Around 40 Indian companies are present in Denmark, in sectors including IT, renewable energy and engineering.

Indian companies present in Denmark include Infosys, Tata Consultancy Services, L&T Infotech, HCL, Tech Mahindra and OYO. The brief states that the majority of them provide IT solutions, project consultancy and outsourcing services for the Danish services sector.

Ministerial visits on business and investment

The Danish Minister of Industry, Business and Financial Affairs, Morten Bodskov, visited India on 16-18 September 2024. He held bilateral meetings with the EAM, the Jal Shakti Minister, the Shipping Minister, the Minister of New and Renewable Energy and the Chief Minister of Gujarat, and a telephonic exchange with the Minister of Commerce and Industry. He also took part in ReINVEST 2024 in Gandhinagar and India Water Week in Delhi.

The brief also records that ministerial delegations from the Tamil Nadu and Karnataka governments have visited Denmark in recent times to seek investment and technology from Denmark in renewable energy, water and machinery.