HAMBURG (Germany): Hamburg, a leading port city of Germany, has launched a business event-- 'India Week'-- to boost business ties between India and itself.
Germany is India's biggest trading partner within the European Union and nearly 10 per cent of German trade with India is generated out of Hamburg.
A large number of delegates from India have come here to participate in the event and explore business opportunities.
This is the second year in succession that the Hamburg government in association with other trade bodies, has organised India Week and expects it to be made a permanent feature, similar to China Time, that it organises every year on a much bigger scale to promote business with China.
Economic Minister of Hamburg Axel Gedaschko said he wants Indian companies planning to set up operations in Europe or Germany to consider Hamburg as one of their destinations.
He pointed out that Germany is one of the few countries which has been able to withstand the current global financial crisis.
At present, about 35 Indian companies are present in Hamburg, including major ones such as Suzlon and Satyam.
The minister said he was talking to some leading Indian companies, trying to woo them to set up business in Hamburg. He, however, did not reveal their names saying discussions were still on.
Ole von Beust, Hamburg's mayor, said at the Senate reception for 'India Week' that about 650 Hamburg companies were actively engaged in India and the Hamburg government would examine opportunities for co-operation in areas such as ports, shipping, logistics, aircraft and renewable energy.
Meanwhile, in a message sent to the organisers of 'India Week', India's Union Commerce Minister Kamal Nath said that during 2007-08, trade between India and Germany was worth USD 14.7-billion. It was expected to reach USD 20-billion by 2012.
'India Week' will conclude on November 16.
