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Germany keen on fostering trade in the healthcare sector in India

Written by: Staff
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New Delhi, Apr 24 (UNI) An 11-member delegation from the state of Bavaria, Germany, is presently here exploring the possiblities of strengthening trade and economic ties in the pharmaceutical, Medical&healthcare sector and looking for partners, dealers and importers for various health care products.

The delegation, headed by Ms Gabriele Engel, Managing Director of the regional marketing association metropolitan region of Nuremberg, comprising of small and medium sized companies is on a 5-day visit to India for finding distribution partners, dealers, agents as well as importers for various health care products.

Interestingly, Prime Minister Manmohan Singh is also currently in Germany looking for its support to India's energy requirements.

The health care products include natural medicines, therapeutic baths for various types, orthopedic instruments, computed tomographic scanners (CT), magnetic resonance scanners (MRI), X-ray tubes, magneto optical disks (MOD) for achieving patient data, patient monitoring products especially for MRI applications, MRI compatible products and in-vitro diagnostics test systems for infectious diseases.

The core competencies of the Nuremberg region are energy and environment, information and communication technology, transport and logistics as well as new materials. And the region is about to make its international name as ''medical valley.'' Speaking to reporters here today, delegation head Ms Engel said ''My role is to provide information and find suitable partner companies for joint ventures and help in setting up manufacturing facilities in each other's country on a win-win situation.'' ''Germans want to invest in India and expect the same from their counterparts,'' she said and added that ''hitherto, much was being written about China for business opportunities and of late India has also come into limelight and people are now shifting their focus to this country.'' Germany accounted for the second highest growth rate of exports to India at 42.4 per cent during April-November 2005 which is next to China PRP's growth rate of 42.5 per cent. During this period, Germany's exports to India accounted for Rs 14,689.88 crore while its imports from India stood at Rs 8,482.77 crore.

Germany is India's second best technology partner, after USA, accounting for over 1,095 technical collaborations. And with total investment of 286 million US dollar from April 2005 till January 2006 as compared to an investment of 145 million dollars in the financial year 2004-05, Germany's investment in India is reaching new heights.

Pharmaceutical exports from Germany to India during April-September 2005 accounted for 23.2 million dollars.

The delegation is scheduled to will visit Mumbai also to enhance bilateral trade and investment in the healthcare sector.

Indo-German Chamber of Commerce, organiser of the delegation, gives advice to German firms seeking a foothold in the Indian market as well as to Indian firms wanting to enter the German market by disseminating information and establishing contacts.

UNI BBS PV KP1603

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