The Hindu Business Line : German team looking for tie-ups with SMEs

BIZ DELEGATION: Trade team from North Rhine-Westphalia, Germany, with the industrialists at a business meet in Kolkata on Wednesday. — A. Roy Chowdhury

Kolkata March 21 A 19-member business delegation from North Rhine Westphalia in Germany, currently on a visit to Kolkata to scout for investment opportunities, is looking at possible joint ventures with small and medium-sized businesses in areas such as IT & Services and steel & metals.

The delegation is part of a 105-member German business team representing various industries and services that is on a visit to India between March 17 and 25.

The delegation to India is led by Ms Christa Thoben, Germany's Minister for Economics & Energy.

A formal welcome was accorded to the visiting delegation at a function organised here by the Indo-German Chamber of Commerce.

Over the next two days, members of the visiting delegation would interact with their Indian counterparts representing small & medium-sized business enterprises in sectors such as IT & services and steel & metals.

While those representing the IT & services sector would visit the Salt Lake Sector V, the city's IT hub, those representing steel & metals would get an opportunity to visit the Durgapur Steel Plant on Thursday.

Keen on West Bengal

Briefing newspersons here today, Mr B.G. Roy, Regional Director of Indo German Chamber of Commerce, said West Bengal's participation in several business fairs in Germany had helped showcase a positive image of the State as an investment destination, especially in IT & services and steel & metals.

The visiting German delegation was keen to scout for business and investment opportunities in West Bengal. They are also open to the idea of joining hands with their Indian counterparts to set up joint ventures in India or even in Germany, as the EU nation was also keen to attract investments from India, he said.

According to him, about 30 per cent of the inbound FDI into India is accounted for by Germany.

The volume of bilateral trade had gone up to over 10 billion in 2006, a target that was earlier pegged for achievement by only 2009. "With the Indian economy sporting a steady growth and West Bengal being positioned appropriately as an ideal destination for investment, the Germans are bullish on the business prospects here," Mr Roy said.

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