Indo-German trade to touch $30 billion by 2010

By Soudhriti Bhabani, IANS

Jamshedpur (Jharkhand) : The bilateral trade between India and Germany is expected to rise to touch $30 billion mark by 2010, Consulate General of the Federal Republic of Germany Guenther Wehrmann said here Wednesday.

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“The thrust will be on iron and steel sectors, automobile components and textile industry,” Wehrmann told IANS on the sidelines of a seminar, Steelrise-2008.

He said Germany exports high-tech capital goods to India used specially in engineering, renewable energy sector and steel industry.

The three-day conference, Steelrise-2008, was organised against the backdrop of the target set by Indian policymakers and industry to expand annual steel production to 180 million tonnes by 2020.

Wehrmann said in 2006 the total volume of Indo-German trade was about 10 billion euros and touched 12 billion euro mark last year.

“The volume of total export of German machinery to India was 2.6 billion euros in 2007 with an increase of 25 percent compared to 2006,” the German consul general said.

Talking about the bilateral trade and economic activities, regional director of Indo-German Chamber of Commerce B.G. Roy said discussions are on between both countries to participate in electrification of Sundarbans in West Bengal.

“Officials of the West Bengal Renewable Energy Development Agency (WBREDA) are now in talks with some German agencies for investments in renewable energy sector and for production of coal-based methane in the state,” Roy said.

He said there are lots of opportunities in the country’s automobile sector also.

“Discussions are on with German counterparts to train people for the Tata Motors small car factory in Singur,” Roy said.