CONSULATE GENERAL OF INDIAFRANKFURT

MONTHLY ECONOMIC AND COMMERCIAL REPORTNOVEMBER 2009

EXECUTIVE SUMMARY

Germany to bear more economic pain and job losses

Federal employment agency facing billions in deficit

Rise in German exports beats forecasts

Business confidence jumps as growth picks up

Dubai crisis set to hit German industry

German states resist government’s tax cut bill

Research, development investment rises despite financial crisis

Karstadt to close six stores

New climate change goals to cost Germany €310 billion

GM up with new financial plan for Opel

German bank offers to refund Lehman victims

Frankfurt-Hahn passenger terminal to be expanded

Lufthansa aims to mimic budget carriers

Tendence at the end of August again from 2010

‘‘India Meets FrankfurtRheinMain - Let’s talk Business’’, 05 November, 200, Frankfurt

Indo-German Symposium at RWTH Aachen, 6th November 2009, Aachen

German Equity Forum 2009, 9-11 November in Frankfurt

MEDICA (International Medical Trade Fair) & COMPAMED, the International Trade Fair for supply to the medical manufacturing sector 18-21 November 2009.

Consulate General of India, Friedrich-Ebert-Anlage,26,60325, Frankfurt am MainE-Mail: commerce@cgifrankfurt.de

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GERMAN ECONOMIC NEWS

German Economy

Germany to bear more economic pain and job lossesThe German economy will need at least two more years to regain the strength it had before the global financial crisis struck according to Economy Minister Rainer Brüderle. Data released on German Economy showed that Germany, one of the world's top exporters, was on its way to recovery after its worst recession in six decades, but there is doubt that 2010 would be an easy year. He feared that the number of unemployed people will rise significantly. Buoyed by some €80 billion of cash injections from the state, the German economy expanded by 0.7 percent in the third quarter of this year. Berlin expects the economy to grow by 1.2 percent in 2010, following a historic contraction of five percent in 2009 as demand for goods made in Germany dried up around the crisis-hit world. A report drawn up by influential economic advisors to the government was even more bullish, predicting growth of 1.6 percent in 2010.

Federal employment agency facing billions in deficit The German federal unemployment agency (BA) is facing billions in losses for 2010. For 2010, the BA is expecting a total deficit of 18.8 billion euros, though they have 1.8 billion euros in reserve. The balance will have to be underwritten by the federal government. Calculations for next year show an expected cost of 22.5 billion euros in unemployment claims alone, 4.8 billion euros more than in 2009, an increase of more than 21 percent year-over-year. Already in this year the reserves of the BA have soaked up shortages of almost 17 billion euros. Experts had long expected that, due to improving labor market trends, there would be a balance of 3 billion euros in the reserves. However, short term worker programs and companies going bankrupt have put more of a drain on the budget than anticipated. At the same time, increased job losses have reduced contributions into the government's unemployment insurance program.

Rise in German exports beats forecasts New economic data suggests that Europe's largest economy is recovering faster than expected with exports registering robust growth, despite unfavorable exchange rates. Germany's statistics office reported that September exports, unperturbed by the strong euro, had surged by almost 4 percent on the previous month. The Wiesbaden-based office valued September exports at 70 billion euros ($104 billion) with imports reaching some 59 billion, constituting a 3.8 percent and 5.8 percent increase respectively. The new data came as a welcome surprise to analysts who had forecast no more than 2.5 percent growth for September. However, although the new figures point to light at the end of the tunnel, exports were in fact down 18.8 percent compared to the same month last year, illustrating how hard Germany's export-dependent economy was hit by the global financial and economic crisis. According to the Organization for Economic Cooperation and Development the German economy may expand 1.4 percent in 2010 and 1.9 percent in 2011 after shrinking 4.9 percent this year, The jobless rate, measured as a percentage of the labor force and based on national accounts, may rise to 9.2 percent in 2010 from 7.6 percent this year, the Paris-based group said.

Business confidence jumps as growth picks upAccording to official data German business sentiment improved more than expected in November to reach its best level since the financial crisis struck in 2008. The figures, together with news of stronger growth in the third quarter, confirm that Europe's largest economy is recovering -- even if unemployment is still expected to

Consulate General of India, Friedrich-Ebert-Anlage,26,60325, Frankfurt am MainE-Mail: commerce@cgifrankfurt.de

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rise. Fuelling hopes that Europe’s largest economy can lead the continent out recession, the Ifo Institute’s survey indicated business sentiment in November rose to 93.9 from 92.0, the eighth successive rise and the highest level since August 2008. The figure was better than expected, with economists polled by Dow Jones Newswires only expecting a rise to 92.6 points. The positive report on sentiment followed data from the Federal Statistics Office confirming that German growth was improving after the country suffered its deepest recession for six decades. Gross domestic product increased by 0.7 percent in the third quarter of the year, the fastest growth rate since early 2008, driven higher by companies replenishing their stocks. However, both exports and consumer spending remained weak and dragged down growth and economists warned Germany was not out of the woods just yet. The German government has raised its growth outlook for the whole year buoyed by optimistic data in recent months, but it still expects the economy to contract by around five percent, by far its worst post-war performance. However, Berlin has forecast the economy will haul itself back into positive territory next year with growth of 1.2 percent.

German Prices Post First Annual Increase in Seven Months on Oil German consumer prices posted their first annual gain in seven months in November as rising oil prices pushed up energy costs. The inflation rate rose to 0.4 percent from minus 0.1 percent in October, according to the Federal Statistics Office in Wiesbaden. Economists predicted prices would increase an annual 0.5 percent, the median of 23 forecasts in a Bloomberg News survey showed. From the previous month, prices fell 0.1 percent. Crude oil prices have increased 71 percent this year and are heading for their biggest annual gain since 1999. While German economic growth accelerated in the third quarter, rising unemployment may prompt consumers to keep a check on spending. European Central Bank (ECB) has held its main interest rate at a record low of 1 percent since May and is flooding banks with cash to aid the economic recovery. In the 16-nation euro area, consumer prices fell an annual 0.1 percent in October after declining 0.3 percent in the previous month. The ECB aims to keep inflation just below 2 percent. The Frankfurt-based central bank has purchased covered bonds and injected billions of euros into markets to bolster the economy.

BMW posts low earnings in third quarterGerman luxury car maker BMW’s third quarter figures are dismal. It has warned that there was no guarantee of a recovery in the coming months despite strong growth in China. BMW’s net profit plunged by 73.8 percent from the third quarter of 2008 to €78 million ($115 million). In the first nine months of the year, net profit lost a massive 96.4 percent from the same period a year earlier to €47 million. Global downturn's effect on manufacturers of high-end automobiles is worse. Small car makers have done better owing to government car scrapping schemes and other fiscal incentives, and BMW's poor figures stood in contrast to those from groups such as Fiat and Ford. Daimler on the other hand, which makes Mercedes-Benz autos, was also hit by a slump in the luxury car market, and reported last week a 74 percent drop in third quarter net profit to €56 million.

Dubai crisis set to hit German industryGerman businesses are likely to be hit hard by Dubai’s debt crisis through a slump in orders for exports, according to the head of the German Association of Chambers of Commerce and Industry (DIHK) Martin Wansleben. He said that the psychological effect of the debt crisis in the Persian Gulf cannot be ignored and given the current unstable climate, every setback is dangerous. The news earlier this week that Dubai, a regional business hub in the Middle East, could not meet interest payments on its US$60 billion debt, sent share markets plunging around the world as investors panicked. According to Wansleben German economy

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also faced other risks. That included a further credit crisis stalling the rebound in Germany. The progress of the American dollar also needed careful watching. While economists say Germany’s economy and business confidence are recovering, it is still expected that unemployment will continue to rise amid the fragile international economic climate.

Merkel warns banks over tight lending habitsGerman banks have been called upon by Chancellor Angela Merkel to meet their “responsibility” to lend money and help the nation’s fragile economic recovery. While stressing banks had to lend responsibly, they also had a duty to all of society as the source of vital capital for the economy, she said. In October, nearly 42 percent of German companies questioned by the economic research institute Ifo said credit conditions were still restrictive in Germany, Europe's biggest economy. Another poll by the chambers of commerce and industry found that 26 percent of German firms felt it had got harder to obtain credit from banks, the main source of financing for eurozone companies. For this reason, the government would propose a “credit mediator” to speak for businesses, who were having trouble obtaining loans at reasonable rates. Such an independent mediator would help businesses to get credit at reasonable rates. Stressing the economic crisis was not over for Germany, she said further pain would be felt in the next few months in the job market. The cost of rising unemployment and the Kurzarbeit scheme, whereby the government subsidises employees on shorter working hours rather than letting their firms lay them off, would be met by the nation as a whole, not just the workers and firms affected, she said.

German states resist government’s tax cut billGermany's states are resisting the January 2010 tax cuts planned by the German government. Politicians are now discussing the possibility of pushing the changes back to 2011.Government wants to adopt a fiscal package worth €8.5 billion including tax cuts and benefits aimed at spurring economic growth. Details include increased child benefits, reduced value-added tax (VAT) in hotels and restaurants, and a reform of business inheritance laws and some cuts in corporate taxes. But officials from Germany’s 16 federal states – even those led by CDU-FDP coalitions – are increasingly dissatisfied with the package. In a meeting with Merkel there was talk of extending talks into early next year, which would mean the bill could not take effect on January 1 as planned. Of the €8.5 billion in tax revenue Germany would miss out on due to the bill, the federal government would shoulder €4.63 billion, the states €2.28 billion and municipalities €1.57 billion. Municipal authorities have argued that they are already heavily in debt and would not be able to survive additional pressure. Meanwhile economists have also expressed doubts over whether the fiscal package will create economic growth. They have criticised the new tax relief package in light of Germany's huge public debt. The influential group of economists has forecast growth of 1.6 percent for 2010, which it says is not enough to replenish the public coffers.

Government approves €8.5-bln fiscal packageThe German government adopted a package of fiscal measures worth €8.5 billion ($12.7 billion) including tax cuts and benefits aimed at underpinning economic growth. The bill includes a lowering of value-added tax (VAT) in hotels and restaurants to 7.0 percent, a reform of business inheritance laws and some cuts in corporate taxes. Companies will be the main beneficiaries but families will also receive an additional €20 per month for each child. The measures are expected to take effect on January 1. German authorities have decided to allow the national deficit to grow as they try to get Europe's biggest economy back on track towards

Consulate General of India, Friedrich-Ebert-Anlage,26,60325, Frankfurt am MainE-Mail: commerce@cgifrankfurt.de

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sustainable growth. Chancellor Angela Merkel's new cabinet has also said it would reform the tax system and cut taxes by €24 billion starting in 2011.

Research, development investment rises despite financial crisis Global investment in research and development increased in 2008, despite the financial crisis, according to the EU's annual scoreboard. Overall, European companies boosted their investment in research and development by 8.1 percent, maintaining a lead over the US (5.7 percent) and Japan (4.4 percent). Germany, already the EU's largest R&D investor, increased its spending by 8.9 percent. Two EU companies made the top ten in research and development (R&D) investment: German car maker Volkswagen, securing 3rd place with an investment of 5.93 billion euros, and Finnish telecommunications manufacturer Nokia (8th place). The report found that European companies were investing more evenly across the sectors, with a preference for the car and parts industries. The world's biggest R&D investor was Japanese car company Toyota, which spent 7.61 billion euros. The EU's scoreboard surveyed 1,000 EU companies and 1,000 companies outside Europe. The report found the world's emerging economies dramatically outpaced the US, Japan and Europe in R&D investment.  China led the increase with a 40 percent increase. China is also investing more aggressively in alternative technologies. However, US companies continue to lead in industries such as biotechnology, pharmaceuticals, and information and communication technologies.

Karstadt to close six storesKarstadt has confirmed the closure of six department store locations. Mr. Weidmann, who is handling the insolvency proceedings for Arcandor subsidiary Karstadt, announced that six of the company's 126 department stores will have to close their doors by the end of the year. The affected stores are located in Berlin, Braunschweig, Dortmund, Hamburg, Munich and Stuttgart. A further 11 locations would continue to be closely monitored, and their fate decided in mid-December. Verdi service sector union said that Verdi would advocate that the surviving stores absorb the workforce of around 400 employees from the six stores that are to be closed. Arcandor insolvency administrator Klaus Hubert Goerg secured a deal with workers' representatives under which Karstadt employees would forego 150 million euros ($224 million) in pay to save their jobs. German newspapers reported that employees would forfeit about 75 percent of their vacation pay and annual bonus. The cost-cutting plan is being scrutinized by the creditors gathered in Essen. Retail analysts are predicting that a spike in turnover from the coming Christmas season could prove to be especially significant for the company. The parent company filed for bankruptcy protection in June.

New climate change goals to cost Germany €310 billionGermany's ambitious plans to fight climate change will cost Europe's largest economy €310 billion. Berlin wanted to set targets at the United Nations conference in Copenhagen this December to reduce fossil fuel emissions from their 1990 level by 40 percent before 2020. But a study conducted by business consultancy Deloitte found that German industries will have to pay large sums of cash to comply. The construction industry will be hardest hit by compulsory cuts in greenhouse gasses in the coming years, having to invest some €150 billion to renovate buildings for energy efficiency, the study said. But rent regulations and the results of the financial crisis will prove to be sizeable hurdles in finishing the job, according to the magazine. Meanwhile the transportation, logistics and energy sectors will have to make the most structural changes to achieve higher energy efficiency – after already significantly reducing their consumption in recent years, the study found. They

Consulate General of India, Friedrich-Ebert-Anlage,26,60325, Frankfurt am MainE-Mail: commerce@cgifrankfurt.de

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will not only have to implement new technology and use new energy sources, but also fundamentally change their business practices much more quickly than previous adjustments.

German freight trains show severe safety defects Almost one in every five freight trains traveling through Germany is affected with safety defects, according to a television report. Germany's rail authority has warned operators to improve controls. The federal railway authority (Eisenbahn-Bundesamt – EBA) determined in a nationwide check in September that over 18 percent of the trains inspected had "safety-relevant defects" with their wheels or axles. Wheels or axles displayed stress marks, dents or corrosion damage, the report said. The majority of some 4,450 wagons tested were owned by Deutsche Bahn subsidiary DB-Schenker. The documentary said the inspection was the first of its kind since the EBA was founded in 1994. The authority had announced the upcoming check of all freight wagons in Germany following a rail accident in Viareggio, Italy, in June, which killed over 20 people. But the Association of German Transport Companies (VDV) criticized the EBA for its recommendation and said that the visual inspection of the axles was not feasible. The report said that safety supervision did not function well. Operators are currently responsible themselves for secure operations. They inspect their own trains on a voluntary basis.

Deutsche Bahn to seal huge rail deal with QatarGerman rail operator Deutsche Bahn is set to sign a contract worth "billions of euros" to build railways in Qatar and Bahrain. According to German business newspaper Handelsblatt’s report, the contract would be worth a total of €16.7 billion ($24.8 billion).The contract would include a rail network in the Qatari capital Doha as well as two high-speed lines to the Doha airport and to Bahrain.

Economic & Business Report from the 4 German States under the jurisdiction of CGI, Frankfurt: North Rhine-Westphalia (NRW), Hesse, Rhineland-Palatinate (RLP) & Saarland)

GM up with new financial plan for Opel

General Motors Co.'s came up with a new plan for Opel, which included a schedule to launch new models and a financial break-even target. U.S. automaker was finalizing its restructuring plan for Opel and British sister brand Vauxhall, a program it said would result in about 9,000 job cuts across the continent. GM is currently in consultations with European government officials and employee representatives. According to GM up to 60 percent of the job cuts could come from Germany, and that the future of an Opel plant in Antwerp, Belgium, is "uncertain." Opel and Vauxhall employ about 48,000 people in Europe, more than 24,000 of them in Germany. GM has said it needs $4.9 billion to restructure its European operations. Earlier General Motors had paid back a loan from Germany and slightly lowered its target for job cuts at struggling European unit Opel. The 9,400 staff at the Bochum and Kaiserslautern plants in western Germany had feared closure under GM's forthcoming restructuring plan, however meeting with state premiers GM said the plants would remain open. GM shocked European governments and employees earlier in November by abruptly canceling the planned sale of a majority in Opel to a consortium of Canadian auto parts maker Magna International Inc. and Russian lender Sberbank.

Consulate General of India, Friedrich-Ebert-Anlage,26,60325, Frankfurt am MainE-Mail: commerce@cgifrankfurt.de

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German bank offers to refund Lehman victims The Frankfurter Sparkasse is offering to buy back Lehman shares from customers who lost money through the bankruptcy of the US investment giant. The victims will receive half of what they paid. Some 5,000 Frankfurter Sparkasse customers will receive a partial refund on the money they lost through investing in the ill-fated US investment bank Lehman. The offer running until December 22, some 44 million euros ($66 million) was made available for the reimbursement, which is the largest return of Lehman money in Germany. The Frankfurter Sparkasse already began to cover the damages of individual Lehman investors in March, concentrating on those worst affected. Lehman shares became practically worthless last September when the bank collapsed in the middle of the global financial crisis. Investors around the world lost billions of dollars. The consumer advice service in the state of Hesse welcomed the announcement, but warned against taking up the offer too hastily. It is possible that investors may be entitled to more than the 50 percent being offered, the consumer advice service said, and advised a consultation with them or with a lawyer before acting.

Six German States Say Prices Increased in November Consumer prices in six German states rose in November from a year earlier, led by higher energy costs. The inflation rate in Baden-Wuerttemberg rose to 0.4 percent from 0.1 percent in October, the state’s statistic office in Stuttgart said today. Bavaria and North Rhine- Westphalia’s rates rose to 0.4 percent from zero. In Saxony, Hesse and Brandenburg, inflation returned to positive territory. Economists predict that overall German consumer prices, calculated using a harmonized European Union method, will rise 0.5 percent in November from a year ago after falling an annual 0.1 percent in October, the median of 33 forecasts in a Bloomberg News survey shows. The Federal Statistics Office in Wiesbaden reported based on data from the six German states. Consumer prices in Baden-Wuerttemberg declined 0.2 percent in November from the previous month, today’s report showed. In Saxony, prices fell 0.1 percent in the month, with the cost of shoes and clothing down 1.5 percent. Fuel costs rose 3 percent. The German economy may expand 1.4 percent in 2010 and 1.9 percent in 2011 after shrinking 4.9 percent this year, according to the Organization for Economic Cooperation and Development.

Steel giant Thyssenkrupp to slash 20,000 jobsThyssenkrupp has announced to slash its workforce worldwide by about 20,000 in the coming year, as the steelmaker battles with record losses and an industry in crisis. But Germany's largest steel producer remained confident about the company's future despite the massive restructuring. Earlier in November, the group announced that it had made a record loss of €2.36 billion ($3.5 billion) in its 2008/2009 fiscal year. The firm, which manufactures elevators, submarines and yachts in addition to making steel, said that sales in the year to September 30 had plunged by 24 percent to €40.6 billion. Battered by the global economic crisis, steel output in Germany is set to collapse by 30 percent this year to a level last seen in 1963, sector federation WVS said in November. Slumping demand in the sector has begun to stabilise, however.

Frankfurt-Hahn passenger terminal to be expandedFrankfurt-Hahn airport, situated in Rhineland-Palatinate, is to invest €5.5m ($8.2m) in expanding its passenger terminal. The extension work, begun in 2009 is scheduled to last a year. Among the changes included in the redevelopment works are improved passenger flows, better use of the retail areas and a clearer terminal layout. The terminal will remain fully operational during the extension. The airport company’s plans aim to optimise the airport and increase revenues while paying attention to the demands of the existing low-cost operating concept. A central access area for departures containing shops, catering outlets and car-hire desks will be developed landside, and the airside retail area will be expanded following the building works. The airport

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handled 434,637 passengers in August, nearly 3% up on the previous corresponding period and an all-time high at the location.

Lufthansa aims to mimic budget carriersGermany’s top airline Lufthansa plans to boost efficiency on its European routes by copying low-cost carriers offering less space and service. Lufthansa plans to implement selected elements of business models used by budget carriers, such as installing more seats on planes. Lufthansa is also considering changes to its in-flight service, which currently offers six options ranging from a snack to a full meal, depending on flight length. The company is exploring the changes to cut growing costs for the company.Yet Lufthansa doesn’t plan to copy the budget business model one-to-one. Lufthansa said there are still no plans to follow competing airlines’ policy of making passengers pay extra for additional services.

German government forces up Emirates airfares  A branch of the German Ministry of Transport, Building and Urban Development has forced Dubai-based airline Emirates to raise its ticket prices on flights from Frankfurt to Johannesburg, and from Hamburg and Berlin to Singapore. Emirates has complained about the action and claims to have brought its case to the European Commission in Brussels. German air traffic law does not allow airlines based outside the EU to offer flights destined for non-EU countries at lower prices than their European competitors. Neither does European law. One function of the Ministry of Transport, Building and Urban Development is to ensure there are no "market disturbances" or "lasting impairments" to the interests of public transportation. Emirates' fares were seen as a market disturbance because they included stopovers in third countries not mentioned in existing bilateral agreements and undercut fares for direct flights. Cologne-based airline Lufthansa offers flights along the same routes and stands to profit from the fare increases at Emirates. Emirates said the order to raise prices is a massive intervention in the free-market economy. While the global market for passenger airlines has become increasingly deregulated, many countries maintain rights to price sovereignty for domestic carriers. Legal structures to do so remain in place in Germany.

E.ON to sell German grid to Dutch group for 1.1 billion euros Germany's biggest energy group, E.ON plans sell its extra high-voltage transmission network in Germany to Tennet, a state-owned Dutch network operator, for 1.1 billion euros ($1.6 billion). The sale of 10,700 kilometers (6,700 miles) of power lines will take effect on January 1, 2010. The transaction is still subject to approval by anti-trust authorities. E.ON's CEO Wulf Bernotat said the deal was an important step towards the integration of Europe's electricity market. The deal will also help the company resolve a European Union investigation into whether E.ON had thwarted competition. The EU has been putting pressure on energy companies to separate production from generation in a bid to increase competition.  Bernotat said that E.ON has "almost completely fulfilled" its commitment to the European Commission after selling its transmission network as well as 4,800 megawatts of power generation capacity. The sale could complicate plans by the German government for the eventual creation of national network company, Netz AG, which would bring all four of Germany's high-voltage grids together under one roof. Last week, the German subsidiary of Swedish power group Vattenfall, Vattenfall Europe, said it would also sell its electric network, but didn't provide details. According to press reports, Vattenfall is planning to sell its grid to a consortium that includes Goldman Sachs, Deutsche Bank and insurance group Allianz for around 500 million euros.  

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Dusseldorf International Airport welcomes Easyjet’s decisionDusseldorf International has welcomed cheap flights carrier easyJet's decision to launch a number of new routes from the airport. From February, the airline will operate flights to Basle, Rome and London from the German airport. Dusseldorf International provides the most busy and most attractive route network of North Rhine-Westphalia. Flights to Basle are expected to prove particularly popular thanks to the economic ties between the two cities.This applies to the pharmaceutical and chemical industries in addition to business finance, arts and the insurance sector. It was recently announced by easyJet that it will switch from Belfast International to Belfast City Airport on January 7th.

Germany’s WestLB Agrees to Rescue Timetable With Soffin Fund Germany’s WestLB AG and the country’s Soffin bank-rescue fund agreed on a timetable for a stabilization of the bank and to shift a third of its assets into a so-called bad bank. Duesseldorf-based WestLB, owned by the state of North Rhine-Westphalia will transfer about 85 billion euros ($127.2 billion) of assets into a so-called work-out entity by April 30, 2010, where they will be run down or sold, with Soffin injecting capital into the remaining entity. The transfer will go into effect retroactively on Jan. 1, 2010, the bank said. The workout entity will get 3 billion euros in capital from WestLB and a 1 billion-euro guarantee from existing shareholders to cover expected losses, WestLB said. The agreement ends weeks of negotiations between the government and WestLB’s owners, including two regional savings- bank groups and the state of North Rhine-Westphalia. They had a Nov. 30 deadline to reach a deal. WestLB must reduce its assets by half, shed risky businesses and sell itself by the end of 2011 under conditions imposed by the European Commission when it approved state aid. The federal government has no intention of getting involved in managing WestLB, the officials said. The assets WestLB is seeking to move off its balance sheet include government bonds and student loans. The bank had assets of 259 billion euros at the end of September. WestLB previously announced plans to cut at least 1,350 jobs, close foreign offices and focus on businesses such as capital markets and corporate clients to fulfill EU demands.

Tendence at the end of August again from 2010 Tendence, International Frankfurt Autumn Fair, will return to its traditional dates at the end of August from 2010. With this decision, Messe Frankfurt Exhibition GmbH is complying with the majority vote of the Tendence Strategy Commission. The basis of the recommendation and the subsequent joint decision are the results of the extensive poll of exhibitors and visitors conducted by Messe Frankfurt in recent weeks. Around two thirds of exhibitors and visitors polled recommended a return to the traditional early autumn dates. Thus, Tendence 2010 will be held in Frankfurt am Main from Friday, 27 August, to Tuesday, 31 August.

New Look for “The Bright World of Metals”The preparations for the four international technology trade fairs GIFA, METEC, THERMPROCESS and NEWCAST to be held in summer 2011 are gradually taking real shape: Messe Düsseldorf is now intensifying its extensive marketing activities for the trade fair quartet held every four years along newly developed advertising lines. The core of the new image is a world globe with a metallic shine standing for the high internationality of the four trade fairs. Its sweeping tail symbolises the dynamism and the growth of the markets involved. The new image motif accompanies the umbrella brand “The Bright World of Metals” which serves as a recurring theme for the technology trade fairs. At the same time, the new motif gives each individual trade fair a personal face by differing in colour. The four international technology trade fairs GIFA, International Foundry Trade Fair, METEC, the International Metallurgical Technology Trade Fair, THERMPROCESS, the

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International Trade Fair for Thermo Process Technology, and NEWCAST, the International Castings Trade Fair, will be staged in Düsseldorf from 28 June to 2 July in 2011. Under the motto “The Bright World of Metals” such topics as castings, foundry technology, metallurgy and thermal processing technology will be the focus of this entire world.

EVENTS & PROMOTIONAL ACTIVITIES

‘‘ India Meets FrankfurtRheinMain - Let’s talk Business’’, 05 November, 2009 The second event of the interactive series of get-togethers ‘‘India Meets FrankfurtRheinMain - Let’s talk Business’’ took place in Frankfurt on 5th November 2009 at Frankfurt Economic Development GmbH. It is an initiative the Consulate has started along with FrankfurtRheinMain, Chamber of Commerce and Industry Frankfurt am Main and Frankfurt Economic Development GmbH. The first event of this series took place on 18 June 2009 at FrankfurtRheinMain GmbH in Frankfurt. These events provide the Indian community with relevant information of working and living in FrankfurtRheinMain as well as with networking opportunities. There were welcome speeches by H.E. Mr. Ajit Kumar, Consul General of India and Mr. Olaf

Atja Lemmingson, Head of International Business Communities, Frankfurt Economic Development GmbH.Consul General Mr. Ajit Kumar said that the whole idea of these events is to make a home away from home for all the companies especially Indian companies, so that they could be helped and supported in their business and in settling down in Frankfurt Rhine Main region. Speaking about Indian economy, Consul General said that India is not doing badly. Consul General also mentioned other factors which are helping Indian economy. India has also become a hub for small car manufacturers. Speaking about the Life Sciences area Consul General said, there are a large number of Indian companies in this sector and the number is increasing. Moreover India has an image in this field as more and more foreign companies are turning to South Asia especially India for import and business. He also stressed that the relationship, be it trade or cultural, between India and Germany getting stronger.Mr. Olaf Atja Lemmingson, Head of International Business Communities, Frankfurt Economic Development GmbH welcomed the guests on behalf of Mr. Peter Kania, Managing Dircetor. He said that India has been making its presence in Germany stronger, be it through Yoga, Ayurveda, Indian cuisines or Bollywood and Indo-German bilateral relationship is finding many interfaces apart from business relationship. Dr. Christian Garbe, Managing Director, FIZ Frankfurt Biotechnology Innovation Center gave the Keynote speech on “Indo-German Outsourcing - exemplified by the Life Science Industry”. Dr. Garbe is managing FIZ Frankfurter Innovationszentrum Biotechnologie GmbH, since 2002. Dr. Garbe spoke about the concept of FIZ. FIZ is cooperating closely with the Biotechnology Development Council (KBDC), an initiative of Karnataka for the development of biotechnology in India. Dr. Garbe also spoke about the global pharmaceutical market. European markets are expected to grow but US markets are expected to slowdown further. He spoke about increased outsourcing to Asia and India. Mr. Garber said that there has been a biotech blossom in India. Chennai, Bangalore and Hyderabad have developed into hotspots. India is expected to achieve 10% share of global biotech market by 2010. Dr. Garber said that FIZ operates closely with India. There are 15 Indian companies working in cooperation with FIZ. The cooperation is slated for an increase.

Consulate General of India, Friedrich-Ebert-Anlage,26,60325, Frankfurt am MainE-Mail: commerce@cgifrankfurt.de

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There was a Q & A round after the presentation. It was followed by Networking and buffet. Around 45 people attended the business meet. They were from various backgrounds like IT & Software, Travel & Tourism, Logistics, Banking, Consulting Services, etc. Some of the important organizations and companies present there were, DHL Express Germany GmbH, HCL GmbH, Standard Chartered Bank, FIZ Frankfurt Biotechnology Innovation Center, State Bank of India, Taylor Wessing Rechtsanwälte, Messe Frankfurt Exhibition GmbH, Perot Systems (Germany) GmbH, European School of Design, amongst others.

Consul (Commercial) Mr. Vijay Mehta also attended the business meet. The next event of the series would be organized by Consulate General of India, Frankfurt.

Indo-German Symposium at the University of Aachen, 6 th November 2009 An Indo-German Symposium was organized on 6 November 2009 at RWTH Aachen University by the Indo-German Society e.V. Aachen, International Office of RWTH Aachen and AISA (Association of Indian Students Aachen). A Welcome note was delivered by Dr. Heide Naderer (International Office), Mr Jürgen Franz (DIG Aachen) and Mr Mohit Raina (AISA). There was a workshop also conducted by Mr Tobias Grote-Beverborg (Deutsche Welle, Bonn) in English.The Workshop dealt with the question: „Done with my master or doctorate –what is next?” It was followed by a discussion on: “International experience wanted – why not India?” Some other speakers at the Symposium were Ms Susanne Kammüller or Stand-in (DAAD, Bonn), Ms Jana Helbig (former German-Indo chamber of commerce, Düsseldorf, now PHD student at TU Bergakademie Freiberg), Dr. Ulrike Brands (International Office RWTH Aachen), Mr Mohit Raina (AISA) and Dr. Sanjeev Kumar (AISA) A Panel discussion in German and English conducted by Dr. Satish Batra (DIG Aachen). The topic of the Panel discussion was „World power India? Where does the subcontinent stand today? What ensured the development of Indo-German relations practically?” Consul General Shri Ajit Kumar made a Power-Point Presentation on Indo-German Relations. He spoke about the India’s recent economic development and also about the Indo-German economic relations. Ambassador (Retd) Dieckmann spoke about his personal experiences on Indo-German relations and was very positive about India's economic development, though much needed to be done.  He mentioned about his tenure in India and the rapid changes which was being witnessed in India.  Mr. Michael Kaps of Deutsche Bank spoke on the working of Deutsche Bank in India and in Aachen and Mr. Thomas Weidlich of Luther Law Firm spoke about legal aspects of investing in India.  Symposium was moderated by Dr. Satish Batra.   Several questions were asked by Indians and German students, including on renewable energy in India.  

Over 100 Indian students were present at the Symposium.  The Association of Indian Students, led by Mr. Mohit Raina and Mr. Sanjiv Kumar, also presented cultural programmes in the evening.  The interaction with Indian students in Aachen was useful in conveying our views and readiness of the Consulate to interact and engage with them.  The students were appreciative of our efforts to interact with them which would carry on in future also.  

The Symposium ended with a get-together along with cultural program and Indian food.(Separate message sent by Consul General on 19th Nov.09.)

Consulate General of India, Friedrich-Ebert-Anlage,26,60325, Frankfurt am MainE-Mail: commerce@cgifrankfurt.de

11

German Equity Forum 2009, 9-11 November in FrankfurtDeutsche Börse and German state-owned bank KfW Bank organized the German Equity Forum, which is Europe's most successful and largest conference in the area of equity financing. It takes place twice a year since 1996 in Frankfurt. The main focus of the German Equity Forum is the presentation of capital seeking companies and the exposition of the entire financial community. While the German Equity Forum Fall targets especially late stage and listed companies, the Spring meeting focuses mainly on early stage and growth stage companies.

Besides an India Forum, which was jointly hosted and organized by Deutsche Börse and London based consulting agency ETI Dynamics, a supporting programme for Indian companies was organized by Deutsche Börse and its partner organizations Beiten Burkhardt, equinet, ETI Dynamics, Linklaters, SJ Berwin and Osborne Clarke.

India Forum and the supporting programme together formed the “India Investment & Capital Forum”. According to the organizers of this programme, the forum focused on corporate finance needs of Indian companies looking to branch out globally or searching for growth capital and aimed at providing such companies with a platform and a steppingstone to tap into the European capital base.

The India Forum, which took place on 9 November 2009, was held for the second time in a row during the German Equity Forum. The seminar was attended by around 70 participants, most of which were German representatives of the financial industry as well as German and Indian businessmen. Consul General Shri Ajit Kumar was cordially invited by Deutsche Börse and attended the India Forum. The programme of India Forum included expert presentations and panel discussions on the advantages for Indian companies when listing at Deutsche Börse and the necessary processes for accomplishing access to the European capital market. Moreover, experts from India shared their experience in specific sectors with a focus on the present state and future development in India.The supporting programme for Indian companies was organized on 10/11 November.Some distinguished speakers and panel members were Dr. Martin Steinbach, Head of Issuer & Investor Markets, Deutsche Börse AG; Mr. James Shapiro, Head of Market Development, Bombay Stock Exchange, Mr. Vijay Kumar, Group Chairman, Gemini Communications Ltd.; Mr. Harvinderjit Bhatia, CFO, Digicable Network India; Mr. Shameek Chaudhuri, Partner, AZB & Partners; Mr. Kai Winkelmann, Managing Director Equity Trading, equine AG; Dr. Alexandra Zech, Partner, Beiten Burkhard Rechtsanwaltsgesellschaft mbH; Mr. Sourav Malik, Executive Director, Kotak Investment Banking; Mr. Jagjit Singh Kohli, Managing Director & Chief Executive Officer, Digicable Network India; Mr. Shahal Khan, Founder & President, Zebra Solar; Mr. Sanjay Mandal, Managing Director, KPIT Infosystems; Mr. Hari Chandra, Head of Power & Infrastructure, Blackstone Group; Mr. Thomas Gerhardt; Managing Director-Head of Global Emerging Markets Equities; Dr. Herbert Harrer, Partner-Capital Markets Group, Linklaters LLP and Mr. Sourav Mallik, Executive Director-M&A, Kotak Investment Banking and Ms. Rakhi Mehta, Vice President and Transaction Manager, Deutsche Bank.

Consulate General of India, Friedrich-Ebert-Anlage,26,60325, Frankfurt am MainE-Mail: commerce@cgifrankfurt.de

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TRADE FAIRS IN THE 4 STATES

MEDICA (International Trade Fair with Congress) was held in Düsseldorf from 18-21 November 2009. COMPAMED, the International Trade Fair for supply to the medical manufacturing sector was held parallel to MEDICA from 18-20 November 2009.

The MEDICA, world‘s largest medical marketplace annually organized in November, is the center of attraction for all those involved in the health service. MEDICA is the hub of the medical trade. MEDICA provides immense opportunity to present one’s products and services to an informed audience. COMPAMED also presents a comprehensive spectrum of high-tech solutions for application in the medical technology industry – ranging from new materials, components, intermediate products, packaging and services up to complex micro-system technology and nanotechnology.

Profile of MEDICA 2009 and Indian Exhibitors

Medica and ComPaMed Düsseldorf 2009

MEDICA & COMPAMED 2009 2008 2007 2006

Total no. of Exhibitors 4741 4312 4300 4600

Participating Countries 63 64 63 65

No. of German Exhibitors 1524 1547 1577 1601

No. of Indian Exhibitors 90 85 87 79

No. of Visitors 138,000 137,000 137,000 137500Indian participation is steadily increasing.

Participation Statistics

Consulate General of India, Friedrich-Ebert-Anlage,26,60325, Frankfurt am MainE-Mail: commerce@cgifrankfurt.de

Serial No.

Country No. of Exhibitors

2009 2008 2007 20061. China 469 435 373 3722. Hong Kong 28 24 28 233. Indonesia 4 3 4 124. Japan 71 56 - -5. Democratic People’s Rep. of

Korea(North Korea)0 1 - -

6. Republic of Korea, (South Korea) 134 130 116 1167. Malaysia 24 32 36 228. Pakistan 44 45 37 439. Singapore 19 12 13 1310. Taiwan 154 143 14511. Thailand 15 -12. Iran (Islamic Republic of) 5 6 - -13. Saudi Arabia 1 1 - --14. United Arab Emirates 3 3 - -15. Turkey 72 63 13

Next MEDICA 2010: 17 to 20 November in DüsseldorfNext COMPAMED 2010: 17 to 19 November in Düsseldorf

Indian companies expressed satisfaction in terms of the fact that they had their regular clients in Germany and Europe, with who the business was growing despite the economic crisis. Managers and heads of some of the companies said that medical industry has not much been affected by the economic crisis.

MEDICA, in its 40th anniversary year, despite the economic crisis, attracted more visitors and exhibitors. The strong attendance from India, besides China and Hong Kong is indicative of the growing interest from Asia, especially South Asia and South East Asia. The feedback received from the Indian companies in the fair has proved that Indian image and reputation in the medical industry is building up. Indian companies have now bigger presence. MEDICA offers these companies a large exposure and a big platform for one-to-one meetings, which facilitates the expansion of business and clientele.

During NovemberBusiness Visa: 1422Employment Visa: 580Trade Enquiries: 20Trade Disputes: 0

Trade between India and the 4 states

INDIAN EXPORTS TO INDIAN IMPORTS FROM TOTAL TRADEJan-Sep

08Jan-Sep

09%

ChangeJan-Sep

08Jan-Sep

09%

ChangeJan-Sep

08Jan-Sep

09%

Change

NRW 1023.65 1025.62 0.19 1540.58 1349.07 -12.43 2564.23 2374.69 -7.39

HESSE 277.77 283.77 2.16 308.80 278.88 -9.69 586.57 562.65 -4.08

RLP 155.07 135.97 -12.31 216.46 192.46 -11.09 371.53 328.43 -11.6

SAARLAND 20.39 21.23 4.09 91.99 75.09 -18.37 112.39 96.32 -14.29 In Million Euros

Indo-German Trade in million Euros & Change over same period of previous year (in %)

Indo-German Trade in million Euros

Jan-Sep 2008 Jan-Sep 2009 % ChangeIndian Exports 3980.793 3927.467 -1.34Indian Imports 6126.291 5587.656 -8.79TOTAL TRADE 10107.084 9515.123 -5.86

A Comparison of Indian Trade with Hesse, North Rhine-Westphalia, Rhineland Palatinate, Saarland and Germany

INDIAN EXPORTS TO INDIAN IMPORTS FROM TOTAL TRADE

Consulate General of India, Friedrich-Ebert-Anlage,26,60325, Frankfurt am MainE-Mail: commerce@cgifrankfurt.de

14

Jan-Sep 08 Jan-Sep 09 Jan-Sep 08 Jan-Sep 09 Jan-Sep 08 Jan-Sep 09

NRW 1023.65 1025.62 1540.58 1349.07 2564.23 2374.69HESSE 277.77 283.77 308.80 278.88 586.57 562.65RLP 155.07 135.97 216.46 192.46 371.53 328.43SAARLAND 20.39 21.23 91.99 75.09 112.39 96.32GERMANY 3980.79 3927.47 6126.29 5587.66 10107.08 9515.12

In Million Euros

A Comparison of Indian Trade with 4 States & Germany10

23.6

5

1025

.62

1540

.58

1349

.07

2564

.23

2374

.69

277.

77

283.

77

308.

8

278.

88

586.

57

562.

65

155.

07

135.

97

216.

46

192.

46

371.

53

328.

43

20.3

9

21.2

3

91.9

9

75.0

9

112.

39

96.3

2

3980

.79

3927

.47

6126

.29

5587

.66

1010

7.08

9515

.12

0

2000

4000

6000

8000

10000

12000

Jan-Sep 08 Jan-Sep 09 Jan-Sep 08 Jan-Sep 09 Jan-Sep 08 Jan-Sep 09

INDIAN EXPORTS TO INDIAN IMPORTS FROM TOTAL TRADE

In M

illio

n Eu

ros

NRW HESSE RLP SAARLAND GERMANY

TRADE FIGURESTOP 10 INDIAN EXPORTS TO GERMAN STATES OF NORTH RHINE-WESTPHALIA, HESSE, RHINELAND-PALATINATE AND SAARLAND DURING JANUARY- SEPTEMBER 2008 & 2009

Value in 1000 EURO INDIAN EXPORTS TO Jan-Sept 08 Jan-Sept 09

NORTH RHINE-WESTPHALIATextile products, not mentioned elsewhere 87,310 106,268Apparel of cotton, excl. of knitted or crocheted fabrics 66,847 87,582Motor cars and mobile homes 5,725 86,702Apparel of knitted or crocheted fabrics of cotton 74,437 85,454Articles of metal, not mentioned elsewhere 54,185 43,904Shell-fruits and dried fruits 24,377 37,561Articles of leather and leather clothes (excl. footwear) 38,141 37,493Prefabricated chemicals, not mentioned elsewhere 35,128 37,484Footwear 38,664 35,395Pharmaceutical products 11,002 31,845

HESSEMotor cars and mobile homes 160 54,439Prefabricated chemicals, not mentioned elsewhere 25,249 26,705Articles of leather and leather clothes (excl. footwear) 19,538 20,028Machinery and apparatus for electricity production, distribution and control 21,063 13,877Articles of metal, not mentioned elsewhere 9,128 10,282

Consulate General of India, Friedrich-Ebert-Anlage,26,60325, Frankfurt am MainE-Mail: commerce@cgifrankfurt.de

15

Articles of rubber 15,012 9,809Pharmaceutical products 8,063 9,673Chemical end products, not mentioned elsewhere 969 9,442Basic pharmaceutical products 14,259 9,116Paints, varnishes and mastics 14,212 6,319

RHINELAND-PALATINATE Footwear 22,189 21,288Jewellery, goldsmith's or silversmith's wares 16,700 17,212Prefabricated chemicals, not mentioned elsewhere 15,552 14,286Pharmaceutical products 2,244 8,197Basic pharmaceutical products 6,664 7,652Articles of leather and leather clothes (excl. footwear) 8,069 7,053Articles of metal, not mentioned elsewhere 7,722 6,193Unmanufactured tobacco and tobacco products 3,856 5,886Chassis, bodies, engines, parts and accessories for motor vehicles, etc. 2,722 4,691Bearings, gears, gearing and driving elements 12,956 4,455

SAARLANDElectric machinery, apparatus and appliances, not mentioned elsewhere 4,848 4,869Pharmaceutical products 582 2,649Articles of metal, not mentioned elsewhere 1,136 2,204Chassis, bodies, engines, parts and accessories for motor vehicles, etc. 1,972 1,398Articles of plastics 90 1,392Apparel of knitted or crocheted fabrics of cotton 234 1,111Tools and cutlery of base metals 679 1,020Machinery and apparatus for electricity production, distribution and control 1,504 783Articles of stone 786 745Fish and crustaceans, molluscs and other aquatic invertebrates; incl. preparations thereof 129 453

TOP 10 INDIAN IMPORTS FROM GERMAN STATES OF NRW, HESSE, RHINELAND-PALATINATE AND SAARLAND DURING JANUARY- SEPTEMBER 2008 & 2009

Value in 1000 EURO TOP 10 INDIAN IMPORTS FROMJan-Sept 08 Jan-Sept 09

NORTH RHINE-WESTPHALIA891 Complete factories 67,407 88,180844 Bearings, gears, gearing and driving elements 170,493 78,977749 Prefabricated chemicals, not mentioned elsewhere 74,642 76,571

869Electric machinery, apparatus and appliances, not mentioned elsewhere 17,708 75,060

847 Machinery for textile, apparel and leather production 93,174 68,770751 Tubes of iron or steel 84,862 63,730

Consulate General of India, Friedrich-Ebert-Anlage,26,60325, Frankfurt am MainE-Mail: commerce@cgifrankfurt.de

16

859 Machinery, not mentioned elsewhere 97,101 63,577755 Plates and sheets of iron or steel 82,771 59,506849 Machinery for mining, quarrying and construction 68,393 54,740842 Pumps and compressors 59,618 50,824

HESSE

861Machinery and apparatus for electricity production, distribution and control 13,720 21,052

834 Pharmaceutical products 15,459 18,684

872Measuring and automatic control instruments and appliances 25,246 17,288

859 Machinery, not mentioned elsewhere 14,426 16,692749 Prefabricated chemicals, not mentioned elsewhere 15,587 15,139732 Plastics 13,455 14,897

871Medical and surgical equipment and orthopaedic appliances 13,825 14,186

844 Bearings, gears, gearing and driving elements 8,253 11,540839 Chemical end products, not mentioned elsewhere 12,759 10,217852 Machine-tools 21,210 9,413

RHINELAND-PALATINATE849 Machinery for mining, quarrying and construction 35,989 31,711842 Pumps and compressors 10,300 26,933749 Prefabricated chemicals, not mentioned elsewhere 42,118 26,656740 Basic pharmaceutical products 10,229 11,194839 Chemical end products, not mentioned elsewhere 10,218 10,837859 Machinery, not mentioned elsewhere 8,034 8,740732 Plastics 9,728 7,617648 Lead and lead alloys, incl. waste and scrap - 5,651772 Semi-products of aluminium 8,970 4,851

679Chemical semi-finished products, not mentioned elsewhere 4,995 4,696

SAARLAND755 Plates and sheets of iron or steel 39,045 33,733859 Machinery, not mentioned elsewhere 8,658 8,707

861Machinery and apparatus for electricity production, distribution and control 1,406 5,673

757 Wire of iron or steel 6,403 3,400

841Motors and engines (excl. engines for agricultural tractors, aircraft and road vehicles) 7,271 3,351

884Chassis, bodies, engines, parts and accessories for motor vehicles, etc. 2,559 2,838

829 Articles of metal, not mentioned elsewhere 1,715 2,817844 Bearings, gears, gearing and driving elements 3,477 2,629832 Articles of plastics 3,892 2,511

872Measuring and automatic control instruments and appliances 3,073 2,163

Consulate General of India, Friedrich-Ebert-Anlage,26,60325, Frankfurt am MainE-Mail: commerce@cgifrankfurt.de

17

State-wise German Imports during Jan-Sept 2009

26.11%

7.23%

3.46%

0.54%

62.66%

NRW

Hesse

RPL

Saarland

Other states

GERMAN IMPORTS OF TOP 10 ITEMS FROM INDIA AND THE SHARE OF 4 STATES OF NRW, HESSE, RHINELAND-PALATINATE AND SAARLAND DURING JANUARY-SEPTEMBER 2009Value in 1000 Euro

Top 10 ItemsTotal

Imports NRW

% shar

e Hesse%

share RLP

% shar

eSaarl-and

% shar

eTotal 4 states

% shar

eApparel of knitted or crocheted fabrics of cotton 347,687 85,454 24.58 4,615 1.33 2374 0.68 1,111 1.30 93,554 26.91

Apparel of cotton, excl. of knitted or crocheted fabrics 293,700 87,582 29.82 5,607 1.91 406 0.14 10 0.01 93,605 31.87Textile products, not mentioned elsewhere 241,132 106,268 44.07 5,315 2.20 3181 1.32 332 0.31 115,096 47.73Motor cars and mobile homes 215,048 86,702 40.32 54,439 25.31 0 0.00 0 0.00 141,141 65.63Electronic valves and tubes and other electronic components 180,668 5,298 2.93 1,044 0.58 308 0.17 2 0.04 6,652 3.68Articles of leather and leather clothes (excl. footwear) 174,482 37,493 21.49 20,028 11.48 7053 4.04 400 1.07 64,974 37.24Basic pharmaceutical products 170,579 27,834 16.32 9,116 5.34 7652 4.49 29 0.10 44,631 26.16Prefabricated chemicals, not mentioned elsewhere 165,289 37,484 22.68 26,705 16.16 14286 8.64 29 0.08 78,504 47.49Footwear 161,061 35,395 21.98 5,852 3.63 21288 13.22 119 0.34 62,654 38.90Articles of metal, not mentioned elsewhere 140,789 43,904 31.18 10,282 7.30 6193 4.40 2,204 5.02 62,583 44.45

Rest items 1,837,023 472,204 25.70 140,766 7.66 73,232 3.99 16,993 3.60 703,195 38.28

Total 3,927,458 1,025,618 26.11 283,769 7.23 135,973 3.46 21,229 2.07 1,466,589 37.34

Consulate General of India, Friedrich-Ebert-Anlage,26,60325, Frankfurt am MainE-Mail: commerce@cgifrankfurt.de

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