German SMEs set to invest in India
A delegation made up of German small- and medium-sized enterprises and headed by Peter Harry Carstensen, chief minister of the Federal State of Schleswig-Holstein, met with India’s minister of Commerce Shri Kamal Nath this week to discuss German investment in Indian industry.
Speaking during the visit the Indian minister said, “The present visit of business delegation… is very timely as this is one area in which interaction between the two countries needs to be intensified and SME links should be strengthened.”
Bilateral trade between India and Germany has increased significantly over the past three years rising from $6841 million in 2004/2005 to $16654 million in 2006/2007. India’s main exports to Germany are leather footwear, machinery and instruments, drugs, pharmaceuticals, and electronic while India imports a significant volume of transport equipment, electronic goods, iron and steel, organic chemicals and machine tools from Germany.
