Mun/Com/201/1/2011 Monthly Economic and Commercial Report CGI, Munich, Germany: February 2011 (Consular Jurisdiction: Bavaria & Baden-Wurttemberg) Executive Summary German business confidence rises German GDP grew by 3.6 in 2010 GDP of Bavaria grew by 3.2 during the 1 st half of 2010 GDP of Baden-Wuertttemberg grew by 5 during the 1 st half of 2010 Indo-Bavarian trade during 2010 at 2.11 billion (24.31 change) Indo-Baden-Wurttemberg trade during 2010 at 2.33 billion (24.07 change) Indo-German trade during 2010 at 15.44 billion (17.9 change) Daimler Unveils its new truck brand Bharat Benz for Indian market Meeting with Bavarian Economic Minister India Economic Day at Mannheim 7 th Wine Festival Stuttgart Meets Mumbai Visit of Economic Minister of Baden-Wuerttemberg to India Visit of Bavarian Business Delegation to India Spielwarenmesse 2011 ISPO 2011 BioFach 2011- India s participation and signing of an MoU for India s participation as Country of the year at BioFach 2012 f.re.e- The new C-B-R 2011 Inhorgenta 2011 Baden-Wuerttemberg s export and import marked new record in 2010 1
I) Economic Outlook Germany German business confidence rises 1. German business confidence has risen for the ninth time in succession, marking a 42-year high in February 2011, according to Munich based Ifo Institute. The Ifo business climate index climbed to 111.2 from 110.3 in January. Ifo surveys 7,000 German companies monthly, to get a sense of confidence in the economy. More firms have reported a better business situation than in the previous month and they continue to be optimistic with regard to their business prospects for the coming half year. The upswing in the German economy is robust, said Ifo Institute president Prof. Dr. Hans-Werner Sinn in a statement. Germany is benefiting from strong global economic activity and a very loose European Central Bank monetary policy oriented towards struggling eurozone economies like Greece, Ireland and Portugal. Confidence in exports, manufacturing and construction had risen. Retailing is the only sector in which the business climate has somewhat cooled off, reported Ifo Institute. II) GDP Figures 2. The German economy has rapidly recovered from the economic crisis. The GDP grew by 3.6 in 2010, the largest economic growth registered since reunification. During the crisis year 2009, GDP shrank by 4.7. GDP growth rates of Bavaria and Baden-Wuerttemberg for the year 2010 are yet to be published. During the first half of the year 2010, GDP of Bavaria grew by 3.2 and GDP of Baden-Wuerttemberg grew by 5. 3. In its annual projection for 2011, the Federal Government forecasted that the upswing will continue in 2011 and the GDP will grow this year by 2.3. According to a recent report published by Bavarian Business Association (VBW), Bavarian GDP should grow by close to 4 in 2010 and by 3 in 2011. According to a report published by the Baden-Wuerttemberg State Statistical Office, Baden-Wuerttemberg economy is expected to grow by 4.75 in 2010 and by 2.5 in 2011. 4. In value terms, GDP of Germany at current prices in 2010, amounted to Euro 2498 billion. GDP values of Bavaria and Baden-Wuerttemberg for the year 2010 are yet to be published. In the year 2009, GDP of Bavaria at current prices amounted to Euro 429 billion and Baden- Wuerttemberg Euro 343 billion. Comparative GDP figures along with growth rates of Bavaria, Baden-Wuerttemberg and Germany are given below. GDP Growth Rate GDP (at current prices) in 6 4 2 0-2 -4-6 2.82.92.7 1.20.9 1-5 -4.7 5 3.2 3.1 Year 2007 Year 2008 Year 2009 Jan-June 2010-8 -10-7.4 Period Bavaria Baden-Wurttemberg Germany In billion Euros 3000 2500 2000 1500 1000 500 0 2428 2495 2407 433 444 429 357 365 343 Year 2007 Year 2008 Year 2009 Period Bavaria Baden-Wurttemberg Germany 2
III) Inflation rate 5. Inflation rate in Bavaria in February 2011 was 2.1. Compared to previous year, the price for heating oil increased by 33.5, petrol by 12.5, electricity by 7.5 and food by 3.6. 6. Inflation rate in Baden-Wuerttemberg in February 2011 was 2.4. Compared to previous year, the price for heating oil increased by 33.1, petrol by 13.3, electricity by 8.8 and food by 3.3. Sr. States Inflation rate ( change over same period in previous year) No February 2010 February 2011 1 Bavaria 0.5 2.1 2 Baden-Wurttemberg 0.3 2.4 IV) Trade figures Value in billion Euros & change in over same period of previous year 2008 2009 2010 Bavarian Export 154 1.32 122-20.78 145 18.85 Bavarian import 129 4.88 107-17.05 131 22.43 Total Trade of Bavaria 283 2.91 229-19.08 276 20.52 Export of Baden-Wuerttemberg 149-0.67 123-17.45 153 24.39 Import of Baden-Wuerttemberg 127 3.25 107-15.75 128 19.63 Total Trade of Baden-Wuerttemberg 276 1.1 230-16.67 281 22.17 German Exports 984 1.97 803-18.39 951 18.43 German Imports 805 4.68 664-17.52 797 20.03 Total Trade of Germany 1789 3.17 1467-18 1748 19.15 V) Trade with 10 major Countries and India The trade figures of Bavaria and Baden-Wuerttemberg along with the rankings and value of trade for the year 2009 are given in tables below. Bavarian Imports (In million Euro) Rank Country 2009 1 Austria 12126-13.3 2 China 11373-5.8 3 Italy 8540-12.7 4 USA 7737-15.5 5 Czech Republic 7452-14 6 France 5636-20.2 7 Russia 5533-14.7 8 Netherlands 5418 0 9 Hungary 4049-18.9 10 UK 3558-19.6 Total Imports 109943-15.4 Bavarian Exports (In million Euro) Rank Country 2009 1 Austria 11938-13 2 USA 11130-25.2 3 Italy 10141-18.8 4 France 10072-13.2 5 UK 8556-22.2 6 China 7800 4.1 7 Spain 4861-26.3 8 Netherlands 4829-11.1 9 Belgium 4481-11.1 10 Switzerland 4315-15.5 Total Exports 123991-20.4 3
Baden-Wuerttemberg s Imports (In million Euro) Rank Country 2009 1 USA 10688-6.74 2 Switzerland 10292-4.45 3 France 8959-20.6 4 Ireland 8479-14.92 5 Italy 8408-14.3 6 China 5829-9.64 7 Netherlands 5378-16.62 8 Austria 4856-6.67 9 Czech Republic 4158-12.74 10 UK 4078-13.62 Total Imports 109078-16.28 Baden-Wuerttemberg s Exports (In million Euro) Rank Country 2009 1 France 11248-18.5 2 USA 10111-23.58 3 Switzerland 9788 1.7 4 Netherlands 8749-17.88 5 Austria 8489 3.03 6 UK 7524-21.28 7 Italy 7226-27.88 8 China 6450 4.62 9 Belgium 5242-17.71 10 Spain 4472-32.27 Total Exports 125012-17.34 VI) Indo-Bavarian/Baden-Wurttemberg/German Trade 7. Indo-German trade seems to have completely recovered from the impact of the global economic crisis. The bilateral trade has increased in 2010 by 17.9 to 15.44 billion, compared to 2009 (during 2009, trade declined by 2.28 to 13.10 billion). With this, Indo-German trade has crossed the 15 billion mark for the first time. Indian exports to Bavaria increased during 2010 by 29.45 to 734 million, to Baden-Wuerttemberg by 19.94 to 806 million where as exports to Germany as whole reached 6.19 billion, marking an increase of 21.34. India s total trade with Bavaria increased by 24.31 to 2.11 billion, while the two-way trade with Baden-Wuerttemberg increased by 24.07 to 2.33 billion. Value in million Euros & change in over same period of previous year 2008 2009 2010 Indian Exports to Bavaria 665 26.67 567-14.74 734 29.45 Indian Imports from Bavaria 1342 22 1132-15.65 1378 21.73 Total Trade 2007 23.51 1699-15.35 2112 24.31 Indian Exports to Baden- 715 18.57 672-6.01 806 19.94 Wuerttemberg Indian Imports from Baden- 1480 18.68 1210-18.24 1529 26.36 Wuerttemberg Total Trade 2195 18.65 1882-14.26 2335 24.07 Indian Exports to Germany 5252 11.25 5104-2.82 6193 21.34 Indian Imports form Germany 8154 10.88 7997-1.93 9253 15.71 Total Trade 13406 11.02 13101-2.28 15446 17.9 4
Evolution of India's Trade With Bavaria Value in Million Euros 2500 2000 1500 1000 500 0 2007 2112 1504 1699 954 591 731 2000 2002 2004 2006 2008 2009 2010 Year Evolution of India's trade With Baden-Wuerttemberg Value in Million Euros 2500 2000 1500 1000 500 0 2195 2335 1882 1591 952 663 753 2000 2002 2004 2006 2008 2009 2010 Year Evolution of India's Trade With Germany Value in Million Euros 20000 15000 10000 5000 0 15446 13406 13101 10539 4548 4965 6223 2000 2002 2004 2006 2008 2009 2010 Year 5
Major 10 Indian Exports to Bavaria Year 2008 Year 2009 Sy.Co Product category Euro Euro Apparel of silk or man-made fibres, excl. Of knitted 804 or crocheted fabrics 10955846 3.52 14791268 35.01 Electronic valves and tubes and other electronic 865 components 61388908 307.67 19654244-67.98 734 Paints, varnishes and mastics 27525619 87.59 25607313-6.97 844 Bearings, gears, gearing and driving elements 55372613 66.37 27353014-50.6 809 Textile products n.e.s 29919424 19.74 27666243-7.53 Machinery & Apparatus for electricity production 861 distribution and control 42066076 35.39 37527582-10.79 Apparel of cotton, excl. of knitted or crocheted 806 fabrics 35668877-5.82 37934123 6.35 803 Apparel of knitted or crocheted fabrics of cotton 40763835-8.09 40910184 0.36 811 Footwear 39605787 3.68 45589380 15.11 Articles of leather and leather clothes (excl. 812 footwear) 49282449 12.37 52540360 6.61 Total Imports of Bavaria from India 665635707 26.83 567126214-14.8 Major 10 Indian Imports from Bavaria Year 2008 Year 2009 Sy.Co Product Category Euro Euro 885 Automobiles 19923516-19.06 33431234 67.8 852 Machine Tools 62986420-44.69 41987493-33.34 Measuring and automatic control instruments and 872 appliances 47614508 16.45 43810370-7.99 Chassis, bodies, engines, parts and accessories for 884 motor vehicles, etc 52263379 28.72 52919832 1.26 851 Machinery for working rubber or plastics 49300573 158.43 68455781 38.85 Medical and surgical equipment and orthopaedic appliances 80465722 0.22 71158628-11.57 871 859 Machinery, n.e.s 100990935 17.46 73074911-27.64 844 Bearings, gears, gearing and driving elements 115324687 16.37 74903212-35.05 891 Industrial plants 15333182 904.9 96995666 532.59 861 Machinery and apparatus for electricity production, distri. & Cont. 197803780 50.08 150522287-23.9 Total Exports of Bavaria to India 1342130382 21.98 1132607686-15.61 Major 10 Indian Exports to Baden-Wurttemberg Year 2008 Year 2009 Sy.Co Product category Euro Euro Television and radio receivers, sound or video 864 recording or reproducing appar. & associated goods 25584607 28.37 20684670-19.15 806 Apparel of cotton, excl. Of knitted or croche.fabrics 13030214 9.57 24618767 88.94 Machinery & Apparatus for electricity production 861 distribution and control 20501276 119.9 24889613 21.41 878 Jewellery, goldsmith's or silversmith's wares 36235104-5.02 27397890-24.39 803 Apparel of knitted or crocheted fabrics of cotton 27808545 1.86 34259157 23.2 812 Articles of leather and leather clothes (excl. footwear) 31012628 20.21 37066247 19.52 Chassis, bodies, engines, parts & acce. for motor 884 vehicle.etc 75098609 9.89 45092638-39.96 740 Basic pharmaceutical products 54875359 30.81 47807316-12.88 829 Articles of metal, n.e.s 48704075 28.11 49472113 1.58 885 Automobiles 64869424 313.8 70331529 8.42 Total Imports of Baden-Wuerttemberg from India 715045442 18.42 672751487-5.91 6
Major 10 Indian Imports from Baden-Wurttemberg Year 2008 Year 2009 Sy.Co Product category Euro Euro 845 Lifting and handling equipment 69268991 131.96 33796880-51.21 Motors and engines (excl.engines for 841 agri.tractors,aircraft,road vehicles) 80744367 111.73 33917289-57.99 847 Machinery for Textile Apparel and leather Production 51004965-38.85 35006947-31.37 Medical and surgical equipment and orthopaedic 871 appliances 42798205 16.28 47134631 10.13 Chassis, bodies, engines, parts and accessories for 884 motor vehicles, etc 56730245 18.5 55875990-1.51 854 Machinery for paper production and printing 107317463 129.05 72974135-32 Measuring and automatic control instruments and 872 appliances 77076835 15.81 78387455 1.7 Machinery and appara. for electricity production 861.distribution & Control 90613536 13.39 80150351-11.55 859 Machinery, n.e.s 148434223 29.77 117713047-20.7 852 Machine Tools 161573025 20.88 127969000-20.8 Total Exports of Baden-Wuerttemberg to India 1480731072 18.69 1210790994-18.23 VII) Five principal export commodities S. No Name of Export Commodity Bavaria Year 2009 37711 1. Motor Vehicles and Parts 2. Machinery 20678 3. Electrical Products 14087 4. Chemicals & 11450 Pharmaceuticals 5. Food Products 6574 Total Exports 123991 Value in million Euros S.No Name of Export Commodity 1. Machinery 27633 2. Motor Vehicles and Parts 23967 3. Pharmaceuticals 10776 4. Electrical products 8454 Baden- Wurttemberg Year 2009 5. Electronic products- data processing and optical products 8365 Total Exports 125012 VIII) Five principal import commodities Value in million Euros S.No Name of Import Commodity Bavaria Year 2009 1. Motor Vehicles and 16272 parts 2. Electrical products 17166 3. Machinery 11642 4. Chemicals & 8656 Pharmaceuticals 5. Food industry 6218 Total Imports 123951 S.No Name of Import Commodity 1. Pharmaceuticals 18202 2. Machinery 12688 3. Electronic products-data processing and optical products 9662 4. Motor vehicles and components Baden- Wurttemberg Year 2009 8350 5. Chemical products 8218 Total Imports 109078 7
IX) Top 5 export and import items in India-Bavaria and India-Baden Wurttemberg trade EXPORTS TO INDIA Top export items of Bavaria to India - Year 2009 6 6 Medical & surgical equipment and orthopedic appliances Machinery, n.e.s Top export items of Baden- Wuerttemberg to India. Year 2009 6 6 Machinery for paper production & printing Measuring & automatic control instruments and appliances 7 Bearings, gears, gearing & driving elements 7 Machinery for electricity production & distribution 9 Industrial plants 10 Machinery, n.e.s 59 13 Machinery for electricity production & distribution Others 60 11 Machine Tools Others IMPORTS FROM INDIA Top Bavarian import items from India. Year 2009 7 7 7 8 Machinery for electricity production & distribution Apparel of cotton, excl. of knitted or crocheted fabrics Apparel of knitted or crocheted fabrics of cotton Footw ear Top import items of Baden-Wuerttemberg from India. Year 2009 6 7 7 7 Articles of leather and leather clothes (excl. footw ear) Chassis, engines, parts & acce. for motor vehicle Basic pharmaceutical products Articles of metal, n.e.s 62 9 Articles of leather and leather clothes (excl. footw ear) 63 10 Automobiles Others Others X) India s Investment interest Daimler Unveils its new truck brand Bharat Benz for Indian market 8. Daimler, the Stuttgart based world s largest truck manufacturer, unveiled its fifth truck brand Bharat Benz, the exclusive new brand for its Indian market. Bharat Benz will offer its customers an entire range of trucks from 6 to 49 tons across various applications. Dr. Dieter Zetsche, Chairman of the Board of Management of Daimler AG & Head of Mercedes Benz Cars unveiled the Bharat Benz brand at the production location in Oragadam, near Chennai on February 17, 2011. The new range of trucks, a combination of Daimler s DNA and India s market knowhow will be developed and built in India, said Dr. Zetsche. India has become the world s second largest market for Medium- and Heavy-duty trucks. Daimler expects the Indian truck industry to double in size by 2020. Daimler sees the new Indian middle market as the most promising sector and the new truck product portfolio will be offered to them, said Mr. Andreas Renschler, Head of Daimler Trucks and Buses. The company will roll out trucks in 2012 from its manufacturing facility at Oragadam. Spread over about 160 hectares, the facility also houses a state of the art test track. Daimler India Commercial Vehicles Pvt. Ltd (DICV) has a total investment of over INR 4400 crores (around 700 million). Daimler AG is commemorating 125 years of the automobile this year. 8
XI) India-Related Events Meeting with Bavarian Economic Minister 9. Consul General met Mr. Martin Zeil, Deputy Minister-President & Minister of Economy of Bavaria, along with senior officials from the Economic Ministry over dinner in Munich on February 1, 2011. The meeting was conceived as a prelude to the Ministers visit to Bangalore, Pune and Delhi along with a 40 member strong business delegation from February 13-19, 2011. Consul General briefed the minister on the current status of the Indian economy, the growth prospects, emphasising the potential areas to expand cooperation between Indian and Bavarian companies. Mr. Zeil expressed satisfaction over the growing Indo-Bavarian relations and was enthusiastic about his visit. He enquired on the prospective sectors for Bavarian companies and also on the Indian experience with regard to legislations and regulations in various sectors. India Economic Day at Mannheim 10. Chamber of Commerce in the city of Mannheim organised an India Economic Day event on February 1, 2011 in co-operation with the Indo-German Chamber of Commerce (IGCC) Duesseldorf. The event included various presentations by experts on India. Mr. Dirk Matter, MD, IGCC, spoke on the current economic situation in India. He also gave a presentation on Choosing Location. The other presentations were; by Roedl and Partner on legal and taxation aspects on India; by Germany Trade and Invest GmbH on Indian infrastructure; by Industrieplanung Organisation GmbH on realisation of construction projects in India; by SKP Crossborder consulting Pvt. Ltd on Company formation in India; by Odenwaelder Kunstoffwerke Gehaeusesysteme GmbH on their experience of working with Indian sales partner. Over 100 participants attended the India Economic Day, which concluded with podium discussions by experts on various topics raised by the participants. 7 th Wine Festival Stuttgart Meets Mumbai 11. Honorary Consul of India for the German States of Baden-Wuerttemberg and Rhineland- Pfalz Mr. Andreas Lapp organised the 7 th Wine Festival Stuttgart Meets Mumbai from February 4-5, 2011 at Mumbai. This landmark annual Wine Festival is organised as a part of the 43-year long partnership between the sister cities of Stuttgart and Mumbai. The Honorary Consul also led a delegation of 52 members from Germany from different sectors like tourism, film & media, education, jewellery and wine to India to participate in the 7 th Wine Festival. Workshops on tourism, education and jewellery were also conducted in Mumbai on the sidelines of the Wine Festival. Mr. Klaus-Peter Murawski, Deputy Mayor of Stuttgart represented the city of Stuttgart this time. Visit of Economic Minister of Baden-Wuerttemberg to India 12. Economic Minister of Baden-Wuerttemberg Mr. Ernst Pfister visited Chennai, Mumbai and Pune from February 6-12, 2011 along with a 17 member delegation. The delegation visited bc India 2011, the Indian version of Bauma, the International trade fair for construction machinery, building material machines and construction vehicles in Mumbai besides hosting Business Forums titled Baden-Wuerttemberg, The German Southwest: your Gateway to Indo-German Synergies both in Chennai and in Pune in cooperation with Indo-German Chamber of Commerce and Industry. The delegation visited factories of major companies like Mercedes Benz India, Bajaj, Mahindra and Mahindra etc. The delegation also visited IIT Madras and informed that they intend to look for suitable universities from Baden-Wuerttemberg to enter into cooperation with IIT Madras. In Mumbai, Mr. Pfister met Mr. Aziz Mehndi Khan, Principal Secretary, Ministry of Economics. 9
Visit of Bavarian Business Delegation to India 13. An important delegation headed by the Bavarian Economic Minister Mr. Martin Zeil was expected to visit Bangalore, Pune and Delhi from January 13-19, 2011. However, the minister could not make it to India due to medical reasons. The 40 member strong business delegation was led by the permanent secretary in the Economic Ministry Dr. Hans Schleicher. In this context, Invest in Bavaria, the investment promotion wing of the Ministry of Economy recorded a video message of the Consul General to be screened during the visit of the delegation at various venues in India. Tata Communications organised a special video conference on 14 th February amongst the visiting Bavarian delegation in Bangalore, Tata Communications headquarters in Mumbai and their operation centre in Munich, where the Consul General participated in the discussions. The delegation hosted a Bavarian Business Seminar along with a Bavarian reception on the occasion of the celebration of the 10 th anniversary of establishment of Bavarian State Office in Bangalore. A Round Table Business Meeting was also held in Pune focusing on automotive, engineering and IT sector. XII) Trade Fairs in Germany Spielwarenmesse 2011 14. Spielwarenmesse 2011, the 62 nd international toy fair, world s leading fair for toys, hobby and leisure-time articles was held in Nuremberg Trade Fair Centre from February 3-8. Around 2600 exhibitors from 63 countries exhibited their latest products and services in the fair. The fair attracted 79000 trade visitors from over 100 countries. Spiewarenmesse is held annually since 1949. A total of 21 Indian companies participated in the fair this time. India s official participation was under the aegis of Sports Goods Export Promotion Council (SGEPC) and 12 Indian companies participated under their banner. Indian companies exhibited various products such as educational games, children books, puzzles, toys, fabric toy cushions, board games, magic tricks & sets, cricket sets, soccer balls, arts craft & hobby sets, kid s room furnishings and toy tyre/gear. SGEPC organised a special India Evening at Hotel Sheraton Carlton in Nuremberg on February 5, 2011. The event was attended by over 100 people representing German and international toy industry, media, Indian exhibitors, etc. The next Spielwarenmesse 2012 will take place at the same venue from February 1-6, 2012. ISPO 2011 15. ISPO 2011, international trade fair for sports equipment and fashion was held in Munich Trade Fair Centre from February 6-9, 2011. With more than 80,000 trade visitors from 106 countries, ISPO attracted the major stake holders in this segment. ISPO is an annual trade fair and it was first held in 1970. A total of 2267 exhibitors from 49 countries participated in 2011 wherein 41 were from India. India s official participation was under the aegis of Sports Goods Export Promotion Council (SGEPC) and 36 Indian companies participated under their banner. Indian companies exhibited various products such as volleyball, football, handball, hockey equipment, boxing accessories, track suits and sportswear at the Fair. The next ISPO 2012 is scheduled from January 29 to February 1, 2012. BioFach 2011- India s participation and signing of an MoU for India s participation as Country of the year at BioFach 2012 16. BioFach 2011, the leading trade fair in the world for organic products, was held in the Nuremberg Exhibition Centre from February 16-19, 2011, together with Vivaness, trade fair for natural personal care and wellness. The exhibition duo welcomed 44592 professional trade visitors from 131 countries this year. A total of 2544 exhibitors from 86 countries displayed wide range of products and services at the fair. A strong contingent of 51 companies participated from India, of 10
which 22 companies participated under the banner of APEDA. The India pavilion set up by APEDA was impressive which also served organic food products to foreign trade visitors. The International Competence Centre for Organic Agriculture (ICCOA), India led an 8 member delegation, including officials from the State of Karnataka, Nagaland and Sikkim to BioFach. APEDA organized an interactive seminar titled Recent Developments in India's Programme for Organic Production' on February 16, 2011 at International Congress Centre at Nuremberg Trade Fair Centre which was attended by around 100 guests. Mr. Asit Tripathy, Chairman, APEDA made the opening remarks; Consul General gave the inaugural address giving an overview of Indian agricultural sector, with special emphasis on organic products; Dr. PVSM Gouri gave a presentation on Recent Developments in India's Programme for Organic Production'. Another highlight was the signing of an MoU for sealing India s participation as Country of the Year at BioFach 2012 at an impressive ceremony on February 17, by Mr. Asit Tripathy, and Mr. Bernd Diederichs, CEO, Nuremberg Trade Fair Group. f.re.e- The new C-B-R 2011 17. f.re.e- The new C-B-R 2011, the leisure and travel exhibition was held in New Munich Trade Fair Centre from February 23-27, 2011. The fair attracted approximately 95,000 trade visitors from all over the world. 1451 exhibitors from 37 countries presented their travel/tourism related services/products at the fair. Two Indian companies, including India Tourism office, Frankfurt participated in the fair. Inhorgenta 2011 18. Inhorgenta 2011, the 38 th international trade fair for watches, clocks, jewellery, precious stones, pearls and technology was held at Munich Trade Fair Centre from February 25-28, 2011. More than 32,000 trade visitors from 79 countries visited the fair. 15 Indian companies exhibited their products and services in the fair comprising gems, gold jewellery, silver jewellery and precious stones, out of a total participation of 1116 exhibitors from 36 countries. Majority of the Indian companies were satisfied with the number of queries/orders received in the fair. Inhorgenta Europe 2012 will be held at the same place from February 10-13, 2012. XIII) General Economic News Baden-Wuerttemberg s export and import marked new record in 2010 19. Baden-Wuerttemberg s export and import achieved new record figures in 2010. According to a recent article published by the State Statistical Office, the State s exports in 2010 increased by 24.8 to 153.9 billion and the imports increased by 20 to 128.4 billion. During the crisis year 2009, exports declined by 17.4 and imports declined by 16.2. The most important sector in export was automotive and automotive component, which accounted for 22.5 and increased by 42.4 in 2010, compared to 2009. The second most important sector was machineries with an export share of 20.8 and its exports in 2010 increased by 13.5. 53 of the States total export went to EU. The top export destinations were USA ( 13.6 billion), France ( 12.6 billion), Switzerland ( 12.6 billion), Netherlands ( 11.4 billion) and China ( 11 billion). Baden- Wuerttemberg s exports to India increased by 26.36 to 1.52 billion. XIV) Publicity of Trade Fairs/Events Conducted in India 20. During the month, CGI Munich gave wide publicity among the German industrial associations, business federations and chambers of commerce & industry to the following trade fairs/events in India to encourage German participation: 11
A. Tex-Trends India-2011 from February 2-4, 2011 at Pragati Maidan, New Delhi, organised by Ministry of Textiles, Government of India, in association with the Textile Export Promotion Councils (www.textrendsindia2011.com). B. Indo-EU Reverse Buyer Seller Meet at Chennai on March 22, 2011 and at Bengaluru on March 23, 2011 (www.eepcindia.org ) 21. The report issues with the approval of Consul General. (Dr. Binoy George) Consul (PIC) March 15, 2011 12