IGCC taking the lead

Year 2006 is being celebrated as IGCC’s (Indo-German Chamber of Commerce) Golden Anniversary of bringing together Indo-German business and trade. The Indo-German Chamber of Commerce is a part of a world-wide network of 117 Chamber offices in 80 countries. To know more about their activities and plans Prasad Chandran, President Elect, IGCC and CMD, BASF, India Ltd speaks.

How does it feel to be the largest foreign chamber of business in India?

It is indeed a matter of pride, considering that we started off with a handful of members and today, in our 50th year, our membership stands at 6500, giving the IGCC the distinction of being the largest chamber in India and the largest bi-national chamber worldwide.

What are the plans to mark 50 years of the Chamber's existence in India this year?

All through the year, several programmes have been scheduled in Germany as well as India. In line with its golden jubilee motto “50 years experience for your future”, the focus of the organization is to strengthen Indo-German economic relations.

Several important delegations and programmes have already taken place, in addition to special events at German and Indian trade fairs. India was Partner Country at the Hannover Fair in April 2006 and at the Frankfurt Book Fair in October 2006.

At the ITB, the world’s largest tourism fair, in March 2006, India for the first time had an entire hall. The next big event is our AGM in Mumbai which will have none other than Minister Glos, the German Economics Minister as well as Mr. Kamal Nath, Minister for Industry and Commerce as Chief Guests.

How has bilateral trade between India and Germany been?

The growth of Indo-German trade hovers over 20% (per year), with Indian imports from Germany growing at 27.7% and exports to Germany increasing 14.8% in the year 2005.

We do not envisage bi-lateral trade losing momentum during the current year and believe that Euro 10 billion trade will be achieved in 2006. Indian exports to Germany grew by 38% in the last 5 years. In all, bi-lateral trade grew 67% in this period to touch a record Euro 7.6 billion.

What kind of business opportunities should Indian companies seek with German companies?

As a resurgent India rises on the global horizon, fresh opportunities present themselves for Indian companies in the areas of manufacturing, infrastructure, energy, food processing and biotechnology.

(Global Features)