Indian machine tools export to Germany rising

Bangalore, Nov 15 (UNI) The German Machine Tool Builders Association Chairman Carl Martin Welcker today said export of Indian machine tools to Germany increased by eight per cent during the first half of the current year.

Addressing a press conference here, he said over the last four years, Germany had imported machine tools from India worth between 3.52 million and 5.52 million Euros annually.

''The Indian machine tool industry can look forward with optimism since domestic production was on the rise and high growth figures were expected to continue in the years ahead,'' he said.

Mr Welcker said export of machine tools to India from Germany was 193.7 million Euros last year, with metal-cutting machine tools share around 71 per cent.

''India, which was in 11th position in the global ranking list of our most important export nations, stood at tenth place in the first six months of 2007,'' he added.

German machine tool exports to India continued to grow in double digits since 2002, he said adding an increase of 23 per cent in exports was registered in the first half of this year, compared to the same period last year.

UNI