Germany’s investment in India has increased by more than two fold at 303 million dollar in fiscal 2005-06 compared to 145 million dollar in the previous year, according to Indo-German Chamber of Commerce.
The bilateral trade between India and Germany has also increased by 30.8 per cent for the first six months of 2006 at 4.97 billion euro compared to previous year.

“With a total investment of 303 million dollar for the financial year 2005-06 as compared to an investment of Rs 145 million dollar in the financial year 2004-05, Germany is on a fast track to India,” the chamber’s Deputy Director Ajay Singh said in a statement.

There has been a recent upsurge of German companies visiting India, the chamber said, adding that presently, Minister of Economics and Technology Michael Glos is visiting Delhi and Mumbai, accompanied by a number of large and medium sized companies which have specific and firm plans for India.

In past couple of years, the chamber said the German companies have reaffirmed their faith in the Indian market and were investing money in setting up their manufacturing base, enhancing their presence and opening new ventures here.

Giving details, it said DYWIDAG was bidding for the second phase of Delhi Metro for a multi-lateral consortium to build the most sophisticated and high quality tunneling.

Another German company, CLASS was investing in Punjab for the production of combined harvesters.

The chamber also pointed out that the Indo-German companies have fared very well.

“There are about 24 Indo- German companies listed in the Indian stock markets. The share price performance of these companies has recorded a remarkable performance,” it said, adding that the best performing companies were Siemens, MICO and Goetze (India). PTI

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