Germany sets up centre in India to facilitate trade

Germany sets up centre in India to facilitate trade

New Delhi: The German government has set up a business development centre in Gurgaon near here aimed at facilitating interaction and cooperation among Indian and German companies, especially in the small and medium enterprises sector.

“The centre would serve as a platform for German firms, particularly SMEs, to understand the Indian business environment and initiate projects with their counterparts here," Minister-President of German Federal State of Schleswig-Holstein Peter Harry Carstensen said Wednesday.

Carstensen, speaking at the EU-India Trade and Investment Development Programme, organised by industry body Ficci, would inaugurate the centre later in the day.

The minister is leading a 38-member delegation that would explore investment opportunities in areas of food processing, science, technology, renewable energy and biotechnology among others.

He said the SMEs have been the main drivers of economic growth in the European nation. “It is not just big global firms that bring employment and investment, but also the SMEs that are contributing to Germany’s growth story," Carstensen said.

Germany is the largest trading partner of India in the European Union, with the trade target of 10 billion euro ($15 billion) already achieved three years ahead of plan.

“We would further increase it to 20 billion euro ($30 billion) in the next five years as emphasised by Chancellor Merkel during her visit to India last month," German Ambassador Bernard Muetzelburg said.