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The bilateral trade between Germany and India is poised to grow at a rate of over 30 per cent annually in the coming years even as major German automobile and aviation companies are planning investments in India.
"The bilateral trade between the two countries, which is at present euro13 billion, will scale new heights in the coming years. Major German companies, which included Lufthansa, are planning more investments in India," Indo-German Chamber of Commerce Director General Bernhard Steinruecke told PTI on the sidelines of a convocation ceremony of Indo-German Training Centre in Chennai.
He said apart from German automotive and auto component companies, which had already made considerable investment in India, other German insurance and banking companies would soon come to India to cash in on the economic boom witnessed in the country.
Earlier, addressing the graduates, Steinruecke said the Indo-German Training Centre would open another branch in Bangalore to cater to the large number of German companies in the region.
He said they would also open a Technical Training Institute in Pune, which is one of the major industrial hubs in India.