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Our Bureau

Hyderabad , Aug. 6

TRADE between India and Germany is set for a multi-fold growth in the next few years. At least three major events are going to take place in the next three months to promote business between the countries. Handelblatt, a leading German daily, and Wall Street Journal Europe will be hosting a three-day event in Berlin next month specifically focussing on India.

Announcing this at the conference `Germany— India's Business Partner' here on Saturday, Mr Bernhard Steinruecke, Director-General of Indo-German Chamber of Commerce (IGCC), said the meet would discuss opportunities and risks in trading with India. It will also focus on India as a potential market and a production and procurement location.

The conference is organised by IGCC in association with the Federation of Andhra Pradesh Chambers of Commerce and Industry. He said bilateral trade, which has grown at 25 per cent, is very less. "Bilateral trade was just 6 billion euros in 2004. This year, the figure could cross 7 billion euros," he said.

But these figures are very small. "It is just 0.47 per cent of Germany's total trade," he said. On the other hand, China has emerged as a leading partner with the total trade standing at 53.4 billion euros.

Two more delegations, one in October and the other in November, will visit Mumbai, Pune, Bangalore and Chennai. The second delegation will focus on the food-processing sector.

Mr Heimo Richter, the German Ambassador , said India, which has earned a reputation for producing quality products, has great scope. On foreign direct investment (FDI), he said statistics are misleading.

"These statistics consider only fresh investments. Several German companies that had established Indian ventures continue to re-invest. These investments are not considered in FDI calculations," he said.

He said infrastructure constraints are bound to crop up when the country sets off for a rapid pace of growth.

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