November 29 - The Port of Hamburg says that it is emerging as one of the winners from India's rapid economic growth.
In a statement, the port claims the number one position as a container port in foreign trade with India, ahead of all other major ports in Europe. It also points to the usefulness of its conventional scheduled liner service between Hamburg and India, operated as a joint service by SCI and the Hamburg-based Rickmers Line, to the conventional general cargoes, such as oversized and heavy machinery and plant components, which also form a significant portion of the cargo mix from Hamburg to India.
To benefit from the growth in this emerging economy, Hamburg's transhipment companies are increasingly looking to the Indian subcontinent and are establishing partnerships there in order to gear up for the future. More than 500 Hamburg-based companies are already involved in foreign trade with India, leaving Hamburg to claim an 11 percent share in the volume of trade between Germany and India. Some 115 businesses based in Hamburg have their own branches, production facilities or representative offices in India.
Hamburg businesses mainly export aircraft, machinery, measurement and control technology, copper products, power generation equipment and chemical products.
There is also increasing interest on the part of Indian companies in Hamburg as a business location: for example, the Indian company Mittal Steel, the world's biggest steel group, acquired the steel maker Hamburger Stahlwerke, and the Hamburg-based wind power equipment manufacturer Repower was taken over by India's Suzlon Energy Ltd.