New Delhi, Sept 24 (UNI) The bilateral trade between India and Germany reached 7.62 billion dollars during January-June this year, recording a growth of 15.63 per cent as compared to 13 billion dollars in the corresponding period last year.
India's export to Germany for the period Jan-June 2007 has crossed 3.18 billion dollars, an increase of over 12.64 per cent over the previous year and the imports from Germany reached 4.44 billion dollars, an increase of 17.86 per cent, said Indo-German Chamber of Commerce (IGCC) Deputy Director-General Ajay Singha.
He, however, informed that the India's export shifted from agricultural products to the industrial products and finished goods. While the industrial products constitute about 92 per cent of the total exports, the finished goods are almost 85 per cent of the total goods exported.
Mr Singha said the Indian SMEs are looking for strategic tie-ups with their German counterparts for technology transfer as well as joint ventures to set up manufacturing facilities in India.
''Germany invested 933 million dollars in the first half of this year as compared to 264 million dollars in the same period last year, an increase of almost 353 per cent.'' The Indian SMEs have geared up their technologies and production capacities and are keen to provide a sourcing hub to their German counterparts.
IGCC is the largest foreign Chambers of Commerce and has played a significant role in the growth of bilateral trade&investment.
From locating strategic business partners to organising presentations of industrial leaders and factory visits of the leading giants, the chambers is constantly striving to assist the SMEs of both the countries.
''Our focus is more on SMEs because there is lot of growth potential in this sector but lack of adequate resources to reach their goal,'' Mr Singha claimed.