National Bank AG of Germany keen to invest in India

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Kolkata, Oct 26 (UNI) The National Bank AG of Germany is scouting for collaboration opportunities with Indian companies by analysing socio-economic and political situation of the country.

Talking to mediapersons here today, bank's spokesperson Thomas A Lange said German companies were keen to invest in India, especially in West Bengal and talks were on in the IT, Biotech, Services and Industries and Tourism sector.

Informing that Germany was the fifth largest trading partner of India, Dr Lange said a 14-member delegation, which is in the city for three days, would be talking to Tata Consultancy Services and the Kolkata Port Trust.

''The port in Kolkata have tremendous oppurtunities and will act as catalyst in future Foreign Direct Ivestments,'' he added.

With a total bilateral trade target of 10 billion EURO for 2009, the Indian exports to the country has grown by 11 per cent and imports by 25.28 per cent, he said adding that textiles and leather had always remained the thrust areas.

''We are also planning to invest in food items, chemicals, commodities, engineering, property development, plastics, pharmaceuticals and automobiles,'' Dr Lange informed refusing to divulge the details of investment plans.

Germany ranks sixth among the foreign investors in India and currently there are about 2700 collaborations and 800 JVs with an total investment of 1.7 billion USD.

UNI

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