Denmark is a country with a population of 5.6 Million, the hot bed for “Brands” and new innovation. Even though the labour costs are considerably exorbitant, Denmark is an agricultural giant and exports close to 16.11 Billion Euros, it is expected to rise to 25 Billion Euros by 2010. When countries were anxious about Silicon revolution and setting up Tech Park and adopting Silicon Vally models, Denmark nurtured its ancient business with an Innovative approach. Clustering of Ancient industries and nurturing them with the vision of future business on Milk & Meat.
The Food industry being capital intensive , having tighter regulations to adopt, the companies are extensively using IT enabled tools and Smart chips to monitor their process. Amidst the growing competitors from the EU countries Denmark is aiming to thrive hard and stay as a frontrunner.
The model of nurturing the local business and make them global with the necessary infrastructure and technical know how is a challenging task, Policy makers and lobbyist of our country have to seriously look in to this. In a global perspective, food industry is a growing industry, demand is set to rise by 60% by 2030, and Denmark’s food cluster is as well placed as any to benefit. Denmark’s companies are setting up standard and standing as a model for other countries to follow. China has already started to adopt Denmark’s model of business for their food industry.
Lessons:
- Nurture the Own Ground Business and Make it Best to meet the Global demand
- Create the Cluster to meet the local demand and nurture them with Technical Know-how.
For more details, Read the Original Article Published in The Economist [Source]
