TRADEWINDS
UAE
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Three-fold increase in India’s trade with Middle East |
Speaking at the opening of Exim Bank’s representative office in Dubai International Financial Centre on December 16 last year, the Chairman and Managing Director of Exim Bank, T. C. Venkat Subramanian said that India’s trade with the Middle East had risen three-fold in the past five years to $25 billion. While India’s exports to the Middle East have risen from $5 billion in 2001-02 to $15 billion in 2005-06, imports from Middle East (excluding oil imports) have gone up from $3 billion to $10 billion during this period. According to the bank, the main contributor to this two-way trade surge is the UAE, India’s leading trading partner accounting for 52 per cent of total bilateral trade. As a regional block, the six member countries of GCC account for 78 per cent of India’s total trade with the region. Mr. Subramanian said, "The synergy in bilateral commercial relations between India and the Middle East, and the potential thereof, can be assessed from the fact that total trade between the two regions has risen more than threefold during the past five years, from less than $ 8 billion in 2001-02 to as much as $ 25 billion in 2005-06, thereby representing an impressive combined average growth rate of 34 per cent."
UAE has emerged as the second largest destination for Indian exports after USA. The main items of India’s exports are jewellery, vegetables and fruits, spices, engineering goods, tea, meat and its preparations, rice, textiles and apparel and chemicals. "What is impressive is that the growth in total trade has not been unidirectional, with both imports and exports having grown at a fast pace," the Exim Bank Chief added. Middle East region is also a major destination for India’s project exports. The Indian companies have contributed to the growth of a number of sectors in the region, like power generation and transmission, highways, telecommunication, water and other infrastructure development. The EXIM bank has also extended Lines of Credit and Buyer’s Credit for export of a wide range of products to the region, and has supported several joint ventures in the UAE in sectors such as engineering, pharmaceuticals and petrochemicals.
GERMANY
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India signs MoU with European Patent Office |
An MoU between the European Patent Office (EPO) and India was signed on November 29, 2006 in Munich by Dr. Ajay Dua, Secretary, Department of Industrial Policy & Promotion (DIPP) and Professor Alain Pompidou, President of EPO. According to the MoU, EPO will help Office of the Controller General of Patents, Designs & Trademarks, India in modernising patent procedure system by training examinees and sharing of their experiences.
Seminar for Indian companies in Bavaria
The Bavarian Ministry of Economic Affairs, Infrastructure, Transport and Technology and the Consulate General of India, Munich, jointly organised a seminar for Indian companies located in Bavaria on December 12, 2006, in Munich. The Seminar was the first of its kind covering the entire spectrum of Indian companies present in Bavaria (Similar seminars had in the past been organised with European, American, Japanese and Chinese companies). Bavarian Minister, Huber, in his presentation noted that there were around 40 Indian companies in Bavaria. Officials from his Ministry, particularly the State owned ‘Invest in Bavaria’ business organization, made detailed presentations on their innovative ‘cluster approach’ whereby the Ministry has identified 19 industrial clusters for possible investments in Bavaria.
The Consul General in his speech focused on the fast expanding Indo-Bavarian economic-commercial relations, both in trade and investment and particularly the trend of two-way investment flows between India and Bavaria. The Seminar provided an excellent forum to interact with a wide cross-section of Ministry officials as well as Indian companies in Bavaria.
Workshop at Munich on investing in Indian Infrastructure
The Bavarian Business Association (VBW) organised a Workshop titled ‘Infrastructure in India - Chances and Challenges’ on December 13, 2006 at VBW Munich. Mr. Norbert Riegel, International Project group, Munich Airport GmbH made a presentation covering his experience in India in connection with tenders for the modernization of various airports in India. Ms. Sieglinde Sauter, Managing Director Trade fairs also made a presentation covering the aspects ‘trade fairs in India’. The Consul General addressed the gathering giving brief information on the Infrastructure sector in India. The Workshop was attended by around 35 German businessmen, representing various German engineering companies, architects and airport consultants.
Indian Ambassador addresses business executives in Stuttgart
Indian Ambassador to Germany, Ms. Meera Shankar visited Stuttgart on December 20, 2006 to participate in the annual LD Forum of Bosch in Stuttgart, which involved 350 top Executives of Bosch from around the world. The Ambassador made a presentation on ‘India Means Business’ highlighting the achievements of the Indian economy, pointing out the challenges and explaining the opportunities that are available for the future, particularly in the fields of infrastructure covering telecom, roads, railways, ports and airports and power.
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Tunisian Firm requires Carbon Steel Sheets
The Embassy of India, Tunisia informs that M/s. SOCOMENIN, an engineering, industrial construction and maintenance company is looking for steel producers for a huge requirement of carbon steel sheets: about 10,000 tons per year. The quality is P335GH, A283GrC, A516Gr70, S275JR, S355GR, etc. and the dimensions are: length up to 13m, width up to 3m and thickness up to 80m. Founded in 1975, SOCOMENIN today is one of the leading companies in steel fabrication, industrial construction and maintenance activities in the Maghreb Region.
Contact: Mr. Mohamed Hbaieb, Purchasing Manager of M/s. SOCOMENIN, Head office: Avenue Mohamed Hédi Khefacha P.O Box 419 – 3000 Sfax - Tunisia. Tel: +216.74.498.162 / 74.497.161. Fax: +216.74.497.917 / 74.497.726. Email: industrial@socomenin.com.tn. Website: www.socomenin.com.tn |
