IGCC sponsors Indian delegation trip from auto industry to Germany

New Delhi, Sep 15 (UNI) Close on the heels of the visit of the German Minister for Economics and Technology Michael Glos, Indo-German Chamber of Commerce (IGCC) is taking delegation from the Indian auto and auto components sector to Germany to explore possibilities for marketing of their products and strategic partnerships in the sector.

With the SMEs both in India and in Germany taking positive steps towards strengthening their economic relations with each other, there is bound to be an upsurge of Indo-German trade and investment in the coming years, said Ajay Singha, Deputy Director General, IGCC.

The 7-day trip starting tomorrow till September 22 include specific Buyer-Seller meets and visits to the Germany's most popular Auto Component Show ''Automechanika'' in Frankfurt and International Commercial Vehicles exhibition, IAA in Hannover.

The direct export of Indian auto components which increased by 28 per cent in 2005-06 and touched a new high of 1.8 billion dollars has a potential of exporting about 25 billion dollars by 2015, according to a study conducted by ACMA&McKinsey and Company.

However, the Indian companies need to invest in manpower and plant and machinery to focus on the quality, competitiveness and product innovations to redefine its stake in the global market, added Mr Singha.

The delegation comprises companies from all parts of India and are keen to market their products to their German counterparts and also locate strategic partners for technical collaborations.

The delegates have great expectations from the buyer-seller meet as the Indian companies are fully matured to absorb German knowhow and technology.

The Indian delegation visit will be followed by a German participation at Automation 2006 in Mumbai from September 27 to 30.

Over 30 German and Indo-German companies will be dispalying the latest innovations in the Automation industry.

Apart from the participation by big German companies like Siemens, Rittal, Lapp, Festo, Leoni&IFM, Automation 2006 will witness a sizable participation of Germany's SMEs.

Infact, over one-third of the participants are exhibiting in India for the first time and are keen to provide their technical know-how and latest product innovations to their Indian counterparts. They are looking at trade, investment as well as technological cooperation in India, said Mr Singha.

In a period of high competition where low costs, high technology, stringent norms and highest levels of quality parameters rule the game, the focus of Global manufacturers especially, has turned to Asia and India in particular.

In the wake of the market potential, the delegation hopes to see some major breakthroughs during the visit of these delegations in terms of techonology advancement of the Indian auto component industry as well as a surge in exports of auto components to Germany.

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