Narendra Modi to jointly open Hannover trade fair along with Merkel
Prime Minister Narendra Modi will jointly open the Hannover trade fair along with German Chancellor Angela Merkel when he travels to Germany next April.
New Delhi: Prime Minister Narendra Modi will jointly open the Hannover trade fair along with German Chancellor Angela Merkel when he travels to Germany next April.
The fair will showcase Modi's Make in India initiative to promote the country as a manufacturing hub among global investors. India is the partner country at the Hannover Messe 2015, which is also the world's largest industrial trade fair.
"Yes. He (Modi) will open the fair on April 12 together with the German chancellor as it is the tradition and he will be there underlining the interest of India in the fair," German ambassador Michael Steiner told PTI.
"I am pretty confident that India will really be in a position to showcase itself in a way that potential investors would say India is becoming interesting again," he added.
The Hannover Fair, to be held between April 13 and 17, aims to give a boost to India's manufacturing sector.
"We see India as an emerging market in the manufacturing industry. The German companies are very keen to invest in India under the Make in India concept," Marc Siemering, senior vice president at Deutsche Messe AG, the organisers of the fair, said.
The Hannover fair attracts footfall of about two lakh senior business leaders, technology heads, industrial scientists and top policy makers across the world for discussing and forging serious collaborations.
About 300 Indian engineering companies, including public sector giants will be participating in the five-day fair, seeking technology collaborations, business tie-ups and showcasing their capabilities to be the world supplier of high-tech goods and specialised services.
"There will be three sessions in the Indo-German business Summit, including a session on Make in India, inaugurated by Modi and Merkel on 13 April," engineering exporters' body EEPC India Executive Director B Sarkar said, adding that PSU giants like BHEL and SAIL have confirmed participation.
India had become the partner country at the Hannover Messe in 2006.
With USD 21 billion bilateral engagement, Germany is India's sixth largest trading partner. The engagement is in the areas of mechanical engineering, automobiles, chemicals, services, nuclear reactors, construction and development.
India received FDI of about USD 6 billion from Germany between 2000 and 2014.
Garments and textile products, chemical items, leather & leather goods, iron, steel and metal goods, electronic components, pharmaceutical products, and auto components are major items of exports from India to Germany.
The key German exports to India include electrical generation equipment, auto equipment, complete fabrication plants, bearings, gear equipment, measurement and control equipment and primary chemical products.
During 2013-14, India's total trade in engineering goods with Germany stood at USD 11.23 billion.