Indo-German trade booming at 40pc: German Federation

Chandigarh, Oct 15: Indo-German trade is booming with growth rates of almost 40 percent in the first seven months of 2006 and the FDI figures are picking up.

This was revealed by Mr Waternberg, Director General and member of the presidential board of Federation of German Industries while welcoming the visiting Indian delegation led by Haryana Chief Minister Bhupinder Singh Hooda in Berlin yesterday.

The Chief Minister along with the industrialists from Haryana interacted with German industrialists in the ongoing CII sponsored 'Government of Haryana International Mission to Europe'. The delegation is currently on a visit to Europe for exploring mutual trade opportunities for industries and marketing Haryana as a preferred foreign direct investment (FDI) destination.

On the occasion, Mr Hooda mentioned that Indo-German trade was bullish and has seen an export growth rate of 42.8 per cent. He added that in Haryana alone German investment had been to the tune of Euro 250 million and there was more potential to improve the trade between the two countries.

UNI