The agreement is reported to be the first of its kind between any country and India, home to 1.3 billion people.
“We have to break down barriers, including ones of a bureaucratic nature, to make it easier for companies to export to India and create jobs in India,” Prime Minister Mette Frederiksen said on Monday.
The Danish PM took part in a video conference earlier on Monday with Indian premier Narendra Modi in connection with the deal, which is hoped will boost Danish export firms currently feeling strain as a result of the coronavirus crisis.
According to Frederiksen, Modi told her during the call that India had the “size” while Denmark had the “solutions” for environmental challenges.
India is currently the world’s third-highest consumer of energy, but almost 70 percent of this consumption comes from oil and coal. It is here that Danish green technology has the potential for large-scale use in the Indian energy sector.
“If India achieved serious climate results, that would be incredible. This is potentially a big day for the climate,” Frederiksen said.
The deal is thought to have a potential value of many millions of kroner for Danish companies.
“For good reasons, I don’t dare to name a precise number. But the potential is enormous. Quite simply, we don’t export enough to the Indian market,” Frederiksen continued.
Negotiations over the agreement began in 2018 under the previous government. The potential of the deal for Denmark and Danish businesses is huge, according to the Confederation of Danish Industry, a major independent interest organisation for Danish businesses.
“India is the world’s third-largest consumer of energy, and it primarily comes from oil and coal. That must change, and Danish companies have the necessary skills the create a greener India,” the confederation’s international director Thomas Bustrup said in a written comment.
READ ALSO: Danish foreign minister hopes to improve relations with visit to India (2017)