Mr. Olaf Iversen, the new Consul General of the Federal Republic of Germany, who had very kindly accepted the Chamber’s invitation for an interactive session with the Managing Committee Members, was introduced by the President, Mr Ambarish Dasgupta. Mr Iversen was happy to be back in Kolkata after 37 years having been posted here earlier from 1978 to 1981. His previous posting before taking charge at Kolkata had been as Deputy Head of Mission at Copenhagen.

Mr Iversen said that he was happy to be in Kolkata for his second tenure here and was looking forward to working here in the years to come. Stating that he was specially happy to be at the Bengal Chamber of Commerce & Industry, he mentioned that Germany today is very much dependent on trade and commerce. Germany’s imports and exports account for almost half of the country’s GDP. Germany enjoys good trade relations with not only Europe but with the entire world. Trade with India has grown substantially over the last 10 years. In value terms, there has been a 100% growth. India is importing machinery, vehicles and chemicals from Germany. Mr Iversen agreed with Hon’ble Prime Minister Narendra Modi’s view that Indo-German trade had huge potential and will grow in the years to come. The current figure of Indo-German Trade said to be to the tune of 16 billion Euros in 2014 is still less than 1% of total German Trade. Germany’s trade has been more with Europe and China but he was sure that 2015 will see India among the top 20 countries engaged in trade and commerce with Germany.

Speaking about investments, Mr Iversen said that there would be large investments from Germany in the near future in India not only in large but also in medium sized industries, considering the growing population in India and its huge market potential. He was happy that the visit of the Prime Minister of India to Germany had surely substantiated the reach and extent of opportunities in India. While German investors are looking more towards the Western part of India, particularly Mumbai, he was keen that trade and commerce with the Eastern part of India, particularly in the Kolkata region grew.

During the Q/A, several interesting points came up. A proposal was made for a food festival in collaboration with Indian entrepreneurs in line with the Cologne Food Fair. Mr Iversen agreed that the Cologne fair was a very important trade fair and can help in developing B2B contacts. A proposal in this respect can be considered with the help of the Indian Embassy. The German Consul General’s support for re-starting Lufthansa Airways from Kolkata was sought. It was felt that this would open up the gateway to Europe for entrepreneurs and business travelers from the Eastern part of India and will surely be an important step for exchange of business between medium and small scale sectors of both countries. With direct connectivity in place there is a potential for agro products to reach out to a large section of customers at the super marts of Europe from Kolkata. Mr Iversen stated that although Lufthansa is no longer Government owned, commercial viability can of course be considered on receipt of a proposal.