CONSULATE GENERAL OF INDIA



CONSULATE GENERAL OF INDIA

FRANKFURT

MONTHLY ECONOMIC AND COMMERCIAL REPORT

JUNE 2010

EXECUTIVE SUMMARY

Most Germans felt unaffected by economic crisis

Family-owned firms show resilience during economic crises

Bundesbank hikes 2010 growth forecast

German Industrial Output Grew in April

Jobless rate drops amid growing confidence

➢ Berlin Budget Deficit Much Lower than Expected

European leaders agree to call for global banking tax

➢ German tax crackdown may yield 1.5 bln eur

Anxious middle class shrinks as gulf between rich and poor grows

German development company GTZ announces rising revenues

➢ General Motors drops all bids for European aid for Opel

Lufthansa announces higher ticket prices

Reports say Anshu Jain could be in lead to be next CEO of Deutsche Bank

➢ Bayer MaterialScience invests in integrated production network

Bankrupt Karstadt chain finds US-German buyer

➢ India Meets Frankfurt Rhein Main - Let’ s talk business!, 02 June 2010

➢ India Week held in Cologne, 11 – 19 June 2010

➢ Annual Meeting of the Indo-German Chamber of Commerce in Düsseldorf -16 June 2010

➢ Students’ Exchange Programme from Springdales School Delhi, 11th June 2010 to 23rd June 2010

➢ "Indo-German Family Day", 21 June 2010

GERMAN ECONOMIC NEWS

European Central Bank Monthly Bulletin June 2010

5

Based on its regular economic and monetary analyses, the Governing Council decided at its meeting on 10 June 2010 to leave the key ECB interest rates unchanged. The current rates remain appropriate. Taking into account all the new information which has become available since its meeting on 6 May 2010, the Governing Council continues to expect price developments to remain moderate over the policy-relevant medium-term horizon.

Turning to the economic analysis, euro area economic activity has been expanding since mid-2009, after a period of sharp decline. According to Eurostat’s first estimate, euro area real GDP increased, on a quarterly basis, by 0.2% in the first quarter of 2010. While adverse weather conditions, in particular, dampened growth in the early part of the year, the latest economic indicators suggest that a rebound took place during the spring. This assessment is also reflected in the June 2010 Eurosystem staff macroeconomic projections for the euro area, according to which annual real GDP growth will range between 0.7% and 1.3% in 2010 and between 0.2% and 2.2% in 2011. Compared with the March 2010 ECB staff macroeconomic projections, the range for real GDP growth this year has been revised slightly upwards, owing to the positive impact of stronger activity worldwide in the short run, while the range has been revised somewhat downwards for 2011, reflecting mainly domestic demand prospects.

With regard to price developments, euro area annual HICP inflation was 1.6% in May 2010, according to Eurostat’s flash estimate, after 1.5% in April. The rise in inflation over recent months mostly reflects higher energy prices. This assessment is also reflected in the June 2010 Eurosystem staff macroeconomic projections for the euro area, which foresee annual HICP inflation in a range between 1.4% and 1.6% for 2010 and between 1.0% and 2.2% for 2011.

Turning to the monetary analysis, the annual growth rate of M3 was unchanged at -0.1% in April 2010. The annual growth rate of loans to the private sector increased somewhat further and turned positive, but remained weak at 0.1%.

To sum up, according to ECB, the current key ECB interest rates remain appropriate. Taking into account all the new information which has become available since its meeting on 6 May 2010, the Governing Council continues to expect price developments to remain moderate over the policy-relevant medium-term horizon. Global inflationary pressures may persist, while domestic price pressures are expected to remain low. The latest information has also confirmed that the economic recovery in the euro area continued in the first half of 2010, but quarterly growth rates are likely to be rather uneven. Looking ahead, the Governing Council expects the euro area economy to grow at a moderate pace, in an environment of continued tensions in some financial market segments and unusually high uncertainty. Overall, the Governing Council expects price stability to be maintained over the medium term, thereby supporting the purchasing power of euro area households. Inflation expectations remain firmly anchored in line with the aim of keeping inflation rates below, but close to, 2% over the medium term.

As regards fiscal policies, the Governing Council welcomed the recent decision by euro area countries to formally establish a European Financial Stability Facility. This needs to be accompanied by decisive action at the level of governments.

German Economy

Most Germans felt unaffected by economic crisis

Less than one-third of Germans have felt personally affected by the global financial crisis, according to a new survey. Some 29 percent of Germans who responded to the worldwide survey conducted by Boston Consulting Group (BCG) said they had experienced the economic fallout of the crisis. Only the Chinese felt further removed from the crisis, with 25 percent of participants saying they had been affected. Meanwhile a much greater proportion of Americans and Russians, 49 and 71 percent respectively, said they’d felt the pinch. Seventy-seven percent admitted they hoped to devote more energy to money-saving endeavours, and 73 percent said they had fun doing so. Despite their good fortune in avoiding the economic downturn, half of the Germans surveyed said they were still worried about the future, though their mood is improving, the study found. The number of Germans who said they planned to cut their expenditures fell from 64 percent last December to 44 percent.

Family-owned firms show resilience during economic crises

A powerful force of family-owned businesses is doing its part to keep the Germany's economy afloat. As the global economy struggles to recover from recession, all eyes are on the fates of publicly traded, multinational conglomerates. In Germany, the 30 largest DAX-listed companies like Deutsche Bank, Siemens, Deutsche Post or Deutsche Telekom tend to dominate media coverage. Family-run enterprises make up more than 50 percent of Germany's gross domestic product, and experts say they provide a catalyst for job growth. Nine out of 10 companies in Germany are owned by families. Those companies are often marked by flexibility, long-term planning, responsible business practices and a willingness to give young people that valuable first job. Some relentlessly ambitious families grow their businesses into national chains and occasionally run afoul of the law. For instance Anton and Christa Schlecker, owners of the international drugstore chain bearing their last name, were each sentenced to 10 months probation and a million-euro fine in 1998 for cheating some of their employees. But according to Johann Eekhoff of the Institute for Small Business Research in Bonn, family-run enterprises tend to follow better business practices than their publicly-traded counterparts. They tend to think in terms of generations rather than quarters and hope their businesses will also provide their children with a livelihood. In a time of economic difficulties, family-run enterprises are helping to keep unemployment in check. But family-run enterprises do not only appeal to young people. According to the Emnid market research institute in Bielefeld, 60 percent of all German employees work for a family business, and 90 percent say they would like to.

Bundesbank hikes 2010 growth forecast

The Bundesbank boosted its growth forecast for Germany for this year, as Europe's biggest economy cashes in on the gradual global recovery. The German central bank said in its twice annual outlook that it expected gross domestic product (GDP) to expand 1.9 percent in 2010, versus the 1.6 percent it had predicted in December. Next year, the economy is seen growing 1.4 percent, against the 1.2 percent previously forecast. The Bundesbank said that it saw the risk to German economic growth posed by fears over other eurozone countries defaulting on loans as "limited." The German government has forecast 1.4 percent growth this year and 1.6 percent in 2011. The Bundesbank said the country could see a slight uptick in unemployment in the next two years but noted that the German job market had weathered the economic crisis well. The official unemployment figure in 2011 could be 3.4 million, which is equivalent to an unemployment rate of 8.0 percent. German joblessness in May fell to 7.7 percent of the workforce. On inflation, the central bank said that higher oil prices and the depreciation of the euro could cause a moderate rise in consumer prices of 1.2 percent in 2010 and 1.6 percent in 2011.

German Industrial Output Grew in April

Germany's roaring export economy continued to benefit from the global recovery in April, when the country posted a €11.8 billion ($12.4 billion) account surplus and a 13.3% rise in industrial output from a year ago. Government data showed that foreign trade continued to help offset sluggish domestic demand. Industrial output was also up 0.9% in April against the previous month, building on a 4.3% monthly surge in March. April manufacturing orders rose 2.8% from a month earlier and 29.8% from a year ago, foreshadowing further output gains in the months ahead. The strong production and output figures suggest that gross domestic product could grow robustly in the second quarter, and support the government's current forecast of 1.4% growth for 2010. The share of German exports that go to the 15 other countries that use the euro is steadily declining, the statistical office's data showed, as is the share of German imports that come from those countries. German exports were up 13.2% in the first four months of 2010, but exports to the euro zone rose just 7.9%. Total imports from January to April were up 9.2%, while imports from the euro zone rose just 7.4%.

German industry leader predicts job market boom

The head of the German Chambers of Industry and Commerce (DIHK) has spoken of "a job miracle" in German industry, and predicted 100,000 new jobs by the end of the year. Martin Wansleben, head of the German Chambers of Industry and Commerce (DIHK), predicted a speedy upturn in German industry. DIHK chief economist Volker Treier, had earlier said that German industry would be able to scale back its Kurzarbeit or “short-time work” scheme this year. Treier told that some 90 percent of workers put on reduced hours during the financial crisis would be back in full-time employment in the foreseeable future. According to Wansleben redundancies would stop, and there would be a plus of 100,000 workers this year. There are new jobs already being created, particularly in the IT, health, aviation and chemical sectors. But some industry leaders expressed caution. Gustav Horn, director of macroeconomics at the Hans Boeckler Foundation research center believes that it is too early to say. But other research institutes are more optimistic. The IFO researcher warned that the government's short-time work system - where companies only pay their staff the hours they actually work and the government picks up the bill for their social welfare contributions - needs to be handled with caution in the next few months. Wansleben did express concern about the lack of new blood in the workforce. Up to 50,000 apprenticeship positions were unfilled in 2009 within the DIHK alone. This came a day after new figures showed that Germany's school system was failing to train young people to an adequate standard for these empty positions. An education ministry reported revealed that 17 percent of young Germans aged between 20 and 30 have no vocational qualification and are no longer in the education system. This represents over 1.5 million people.

Jobless rate drops amid growing confidence

Germany has got another economic confidence boost with unemployment falling to roughly the same rate it was before the financial crisis. The federal labour office said that 7.5 percent of the workforce was out of jobs in June, down from 7.7 percent in May, while the total number of unemployed fell 88,000 to 3.15 million. Compared to June 2009, the total was down 257,000. Unemployment is at its lowest level since December 2008. Office said the healthy labour market development of last month has continued in June. The fundamental indicators have once again improved. The unemployment now stood at its lowest level since December 2008. Stripped of seasonal effects skewing the figures, the adjusted number of jobless fell 21,000 from May, the labour office said, compared with a projected drop of 25,000 according to economists polled by Dow Jones Newswires.

Half of Germans want the Deutsche mark back

Eleven years after the introduction of the euro every second German still longs for the return of the Deutsche mark, according to a new poll. Some 51 percent of those surveyed by market research institute Ipsos admitted they wanted their old currency back. Just 30 percent said that they rejected the idea, while another 18 percent were undecided, the Hamburg-based institute reported. German confidence in Europe's single currency has been rocked in recent months by the Greek debt crisis and the eurozone's ensuing bailout of Athens. Though it remains considerably stronger versus the US dollar than the mark was back in 1998, the euro's precipitous decline has sparked concern in Europe's largest economy. People between 50 and 64-years-old said they wanted to see a mark comeback, a desire echoed by only 42 percent of those between 16 and 29. The split between eastern and western Germany was marginal, with 52 percent of those in the west and 48 percent in the east saying they preferred the mark to the euro.

Berlin Budget Deficit Much Lower than Expected

With tax revenues pouring into German coffers faster than expected, 2010 budget deficit forecasts have been revised downward. Berlin may need 37 billion euros less credit than forecast over the next two years -- a fact that may increase US pressure on Berlin to abandon austerity. Early June Chancellor Angela Merkel's government put together an €80 billion austerity program designed to trim the country's budget deficit substantially in coming years. Higher-than-expected tax revenues and lower-than-expected unemployment have resulted in a new forecast which foresees the 2010 budget deficit coming in at between €60 billion and €65 billion. Government sales of mobile phone frequencies also improved the bottom line. The situation in 2011 could see debt of €55 billion – compared to previous projections of almost €72 billion. Much of the increase in tax revenue came from value-added tax, which rose by 6.5 percent against the same month one year ago. In addition, import levies on goods from non-European Union countries rose by 23 percent. German companies are optimistic as well. The Ifo business climate index -- Germany's leading economic indicator, which is based on a monthly survey of some 7,000 companies -- continued its upward trend despite analyst’s negative expectations. A new constitutional amendment in Germany requires that the government reduce its budget deficit to €8.5 billion by 2016. The government hopes to reduce borrowing by some €10 billion per year until then.

Nobel Economist Krugman Slams German Austerity

Nobel prize-winning economist Paul Krugman said that Germany has begun imposing austerity measures far too soon and that it could endanger fragile economic growth. With the economy on the slow road to health, according to German Chancellor Angela Merkel, it is time to introduce far-reaching reforms of the global financial system. Opposition to her reform proposals is widespread and, frustration is building with Germany's new focus on budget consolidation and debt reduction. He said now is not the time to be worried about deficits when the economy is at 7 or 8 percent below its normal capacity and interest rates are at zero. His concern is that German austerity could ultimately have a negative impact on an already fragile US economy and that Berlin is hoping to resuscitate its economy solely through exports. He said that other countries in Europe would suffer as a result of Germany's savings package. Last week, US President Barack Obama sent a letter to other G-20 countries in which he fired a not-so-subtle shot across Berlin's bow. Germany and France were hoping that the G-20 summit would focus on measures aimed at reforming global financial markets. In particular, Merkel would like to see an international tax on financial transactions as well as a mandatory bank levy, which would go towards a fund to be used to bail out banks in future crises. But opposition to both proposals has been stiff.

German opposition offers to help government with austerity programme

Germany's opposition Social Democrats have promised the government not to block its planned austerity measures. The leader of the German opposition Social Democrats (SPD), Sigmar Gabriel, has said his party is prepared to work together with Chancellor Angela Merkel's center-right government to endorse "necessary" austerity measures to reduce the national deficit. Gabriel said the SPD does not intend to attempt to block the government but has proposed a numbers of cost-cutting measures, focusing on government subsidies, to resolve the budget problem. The Social Democrats proposed cuts totaling 10 billion euros ($12.2 billion) per year by focusing on cutting government subsidies, said Gabriel. A reduction in value added tax for hotels passed earlier this year would have to be withdrawn and the top tax rate for high earners should be increased by three percent, Gabriel said. Earlier the austerity package had sparked a heated debate with some in the coalition defending the package while opposition, social justice advocates, unions and German cities slammed the plan as unjust. The German Association of Cities said it feared the new budget would create additional burdens for already struggling communities. But the Munich-based Institute for Economic Research, (Ifo) said the package was just. The Confederation of German Trade Unions (DGB) said that cutting unemployment benefits would lead to higher unemployment. According to those opposing, the strong shoulders aren’t being burdened, but instead the weak.

German car suppliers face tough times

 A new report says plenty of German car parts suppliers could still go belly up despite an upswing in the car industry. But things may change as demand for new cars picks up. One in five German automotive suppliers still faces possible insolvency following one of the biggest crises in the global car manufacturing market, according to a new report published by D&B Deutschland. That's slightly better than the one-in-three assessment made by A.T. Kearny a year earlier. But industry experts aren't celebrating just yet. Germany is home to more than 5,300 companies supplying components not only to the country's big carmakers, such as BMW, Daimler and Volkswagen, but also to manufacturers worldwide. More than half of these make automotive parts as their core business. Altogether, the suppliers employ more than 300,000 people. Auto component makers in Germany face a number of challenges. For one, German carmakers are expanding in the growth markets China, India and Latin America, far away from many of their traditional suppliers and close to new, low-cost competitors. But automotive suppliers in Germany are well positioned to meet these and other challenges. The tier one suppliers already operate globally and will follow in the footsteps of their customers and there will still be plenty of demand domestically to sustain growth in traditional markets. And the competition among automotive suppliers is as fierce as it comes and will fuel consolidation, forcing some players out of the market.

German companies win big at South Africa 2010

Billions of euros have been made from the World Cup, with German companies among the big winners. Now they're hoping their work on South Africa projects will translate into success for their Brazil 2014 project bids. German companies have played huge role in building the Soccer City stadium and the other venues. German Chamber of Industry and Commerce said that German companies have undertaken a load of projects, around 1.5 billion euros (1.8 billion dollars) worth, creating and securing 15,000 jobs in Germany. The stadiums were full of products and materials "made in Germany." The Lanxess chemicals and plastics facility in Krefeld, for instance, supplied the seats and pigment for the color of the stadium facade, in addition to other building materials. Osram, a subsidiary of German electronics and engineering giant Siemens, delivered most of the lighting systems to all 10 stadiums hosting the games. Osram generated an estimated 1 billion euros in sales in South African linked either directly to the World Cup or indirectly to infrastructure required for the event. Small and medium-size companies have benefitted as well. The material used to create the roofs for the Soccer City Stadium and Cape Town's Green Point Stadium, for instance, was made by Verseidag with just 200 employees. Verseidag, Laxness and Siemens are already looking ahead to the next World Cup, which will take place in Brazil in four years. Other German manufacturers also hope their South Africa 2010 projects will serve as examples of their work and convince the 2014 FIFA World Cup planners in Brazil of their ability to fulfill large-scale projects.

European leaders agree to call for global banking tax

European Union leaders meeting in Brussels have agreed to call for a tax on global financial transactions at the G20 in Toronto. Also, they approved Estonia's bid to join the euro currency. The European Union was set to press for a levy on banks and a tax on global financial transactions at summit of the world's 20 leading economies (G20), European leaders had said after a summit in Brussels. EU Council President Herman Van Rompuy said after the talks that EU states were keen to make banks pay them back for the massive cash injection they were given during the 2008-2009 financial crisis. The bank levy was discussed as an EU proposal at the G20, and the bloc also made a proposal to develop and explore the introduction of a financial transaction tax," Van Rompuy told. The summit also addressed the EU debt crisis, with leaders agreeing to have stress tests of their nations' banks published to reassure investors and dispel fears that further EU members are in danger of bankruptcy.

High Court Refuses to Issue Injunction on Euro Bailout

Although it has not yet given a final ruling on the legality of the €750 billion European Union rescue package for the euro, Germany's Constitutional Court says it will not issue a temporary injunction on credit guarantees or aid. The court warned an injunction could create chaos on the markets. Germany's highest court rejected a petition filed requesting a temporary injunction against the country's planned credit guarantees to shore up the ailing euro. The Federal Constitutional Court said it reached its decision because a temporary injunction of German credit guarantees could have far reaching consequences for Europe's common currency. With its decision not to intervene, the path has been cleared, at least for the time being, for Germany's participation in the €750 billion ($903 billion) program aimed at stabilizing the common currency. The court said it considered the possible consequences that an injunction could have for the euro. If Germany had to suspend its commitments to the rescue package even temporarily, the government believes it could lead to a loss of trust in the markets, and the scale of the consequences would be unpredictable. In May, the German parliament approved credit guarantees with a maximum value of €148 billion -- the country's part of a European Union- and International Monetary Fund-led effort to restore trust in the euro. The German Finance Ministry welcomed the decision.

Luxury goods market set to rebound

Luxury goods producers are slowly recovering from the global financial crisis, with four percent growth expected for 2010, according to analysis published in Munich. After the market shrivelled by some 8 percent in 2009, this year sales of expensive jewellery, champagne and other fancy goods from Germany and elsewhere are expected to increase by 4 percent to €158 billion, the study by consulting firm Bain & Company said. Most of the growth will come from shoppers in Asia who buy particularly pricey accessories, shoes and leather goods, the company found. The Chinese market is among the fastest to expand, with a growth rate of 15 percent expected this year. Returning consumer trust in the market is also fuelling the growth trend, the study said. Many of the bigger luxury brands such as Mercedes, BMW, and Porsche were better prepared to navigate the recession, the study found. While only two percent of the 220 companies included grew by more than five percent in 2009 – these made up 10 percent of the total market.

German tax crackdown may yield 1.5 bln eur

BERLINRoughly 1.5 billion euros in lost revenues could be recovered in Germany from 20,000 tax evaders who have so far come clean about their Swiss bank accounts, the DSTG financial authorities trade union said. The state of Lower Saxony had bought a second CD of stolen Swiss bank data believed to be rich in detail about undisclosed holdings. According to a survey of state finance ministries, more than 20,000 Germans have reported themselves to authorities since the start of February. The money would be booked this year, he added, noting that Germany's decision to purchase the Swiss data had been vindicated. Chancellor Angela Merkel's government has taken a tough line on tax evasion since the financial crisis broke, leading to a series of angry exchanges with neighbours like Switzerland and Liechtenstein over banking secrecy. The move has yielded results, with Switzerland in February saying it would no longer accept untaxed money into its banks. The wealthy southwestern state of Baden-Wuerttemberg, which borders Switzerland, has seen the biggest number of reported cases of tax dodging, with some 5,700 people turning themselves in since the start of February, the state government said. Bavaria has logged more than 3,200 cases, Hesse some 2,700 and Germany's most populous state, North Rhine-Westphalia, over 4,100. Germany's six eastern federal states have registered far less evidence of tax dodging. Excluding Berlin, only around 200 people have so far reported themselves in the formerly communist part of the country.

Anxious middle class shrinks as gulf between rich and poor grows

A new study released said the divide between Germany’s rich and poor continues to grow and is squeezing out the country's anxious middle class. The German Institute for Economic Research (DIW) research showed the number of both poor and rich households growing in absolute terms - and for the last 10 years the impoverished households have become progressively poorer. The polarizing trend, studied between 2001 and 2009, means that the middle class has fallen from 64 percent to only 60 percent of German society in the past decade. Low incomes, according to the DIW, are those that have a take-home pay of less than 70 percent of the average net salary. In 2000, some 18 percent of German households fell into this group – but jumped to 22 percent in 2009. Meanwhile the wealthy – or those who take home above 150 percent more than the average income (€3,870) are multiplying. Their numbers grew from 16 to 18 percent in the same time period, though there was a slight reduction following the financial crisis. The development is dangerous for social stability, the DIW told. With this in mind, the DIW experts were highly critical of the government’s recent decision to cut spending with a record austerity package, which aims to slash €80 billion from the budget by 2014, including €11.2 billion next year, much of it from social welfare benefits.

German cabinet extends ban on naked short selling

German Chancellor Angela Merkel's cabinet has approved a draft law widening the government's recent temporary ban on the short sale of certain types of shares - a practice known as naked short-selling. The draft foresees a permanent ban on the naked short selling of all stocks listed on German exchanges, as well as bonds issued by eurozone governments. The ban concerns securities that registered on a regulated German market. The ban also encompasses certain trades on currencies that are not used for hedging purposes. A previous version of the draft law had envisaged a complete ban on short selling currency derivates. Naked short is effectively a bet that a certain stock or government bond will lose value. But unlike conventional short selling whereby traders borrow securities to sell and buy them back at a profit once their price has fallen, naked short selling leapfrogs the borrowing process altogether. It is viewed as a far riskier form of trading. The practice came under fire after Greece struggled to raise capital to finance its debt. Naked trades were blamed for artificially inflating the country's funding costs.

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

German development company GTZ announces rising revenues

German firm GTZ, (Deutsche Gesellschaft für Technische Zusammenarbeit -German Agency for Technical Cooperation) which provides technical assistance in the field of development, has released it’s the Company head Bernd Eisenblaetter said the company's success is due in large part to increased cooperation with the business sector. It has undertaken reconstruction projects in war-torn Afghanistan. He said Asia is one of its fastest-growing markets. A concrete example, he said, was a project to create a "nationwide, environmentally friendly and safe disposal system for used packaging and chemicals from laboratories in Thailand, Indonesia and the Philippines." GTZ, headquartered in Eschborn, Hesse, is one of the world's largest development firms, with current projects in 128 countries and it employs about 15,000 people worldwide. It works with both individual countries and international bodies like the European Union and the United Nations. The German Ministry for Economic Cooperation and Development provides 70 percent of GTZ's total revenue - about one billion euros - making it by far the company's most important employer. But apart from public funding, GTZ is also seeing an increase in contracts where the state works in cooperation with the private sector.

General Motors drops all bids for European aid for Opel

General Motors dropped its applications for state aid from European governments for Opel, saying it will restructure the European carmaking business using its own resources. Opel, head office in Ruesselsheim, near Frankfurt, had asked the governments for 1.9 billion euros (2.3 billion dollars) to help save its car factories after its US parent declared bankruptcy last year. GM restructured and later recovered. Chief executive Nick Reilly said time-consuming, complex negotiations would have been a distraction, delaying restructuring at Opel. He said a plan to invest 3.3 billion euros of GM cash into the European company will now be implemented. Reilly had said earlier that Opel will update 80 per cent of its model range. There will be no plant closures or layoffs over and above those Opel announced at the start of this year, according to an Opel spokesman. Those measures called for Opel to lay off 8,300 of its 48,000 employees in Europe and close a plant in Antwerp, Belgium. Germany turned down an application by General Motors for 1.1 billion euros in loan guarantees to help Opel factories lay off 20 per cent of their staff and make a range of fresh models. Britain, Spain, Austria, Hungary and Poland had said they would aid their own Opel and Vauxhall factories with a further 800 million euros, but only if Germany did the heavy lifting. The decision ends a debate that began in 2008 on whether it was fair to help a losing brand while giving nothing to more successful competitors such as Volkswagen. GM had wanted €1.8 billion ($2.2 billion) in loan guarantees from European governments including Germany, Britain, where it owns Vauxhall, Spain, Poland, Austria and Belgium. Germany, home to 23,000 employees, half the European total, last week rejected a request from GM to provide €1.1 billion in guarantees, saying GM has sufficient cash of its own. German government was annoyed last year by GM's last-minute decision not to sell Opel to Canadian auto parts maker Magna and Russian lender Sberbank. Germany had been prepared to provide guarantees to Opel if GM sold it to Magna and Sberbank, but GM scrapped the deal in October.

German states plan to talk money for Opel

Four German states with Opel plants are to meet to discuss loan guarantees for the US-owned, financially-troubled German carmaker. Early June Government rejected Opel's request for loan guarantees at the federal level but said the company was free to seek aid from state governments and other groups, including the European Investment Bank. The states Hesse, North Rhine-Westphalia, Thuringia and Rhineland-Palatinate have agreed to explore options and have signaled a willingness to help financially after the federal government rejected the auto manufacturer's request for aid. Opel had applied for 1.1 billion euros in federal guarantees from a pool of government bailout money, dubbed the "Deutschlandfond", to back private-sector loans. US-based auto giant General Motors, which owns Opel, says it needs more than 3 billion euros to restructure its European operations. The four states are eager to help Opel for a number of reasons, but the biggest is jobs. Plants in their states employ more than 23,000 people - half of Opel's total workforce in Europe. And thousands of more jobs are linked to providing car parts and other goods and services to the plants. There is state money. Hesse, for instance, has a 1.5 billion euro guarantee program for 2010. Last year the state lent Opel 347 million euros as part of an emergency bridge loan. But speculation is rife that the states have yet to agree to a coordinated approach and could walk away from the talks without a plan. The argument is also that if GM is so determined to keep Opel, then the parent must accept financial responsibility for its subsidiary.

Lufthansa settles wage issue with pilots

A dispute over wages between German airline Lufthansa and pilots has been settled through arbitration. The pilots have agreed to accept a pay freeze in return for job security. Negotiations on the arbitration began in April, and now both sides have accepted the terms. Lufthansa pilots have been feuding with the company over pay and job security over the last few months, leading to strikes that cancelled many flights for Germany's biggest airline. According to the arbitration agreement, which must still be formally accepted by the pilots' Cockpit union, the pilots have agreed to a pay freeze through March 2011 in exchange for job security.

Lufthansa announces higher ticket prices

Lufthansa, Europe's biggest airline by passenger numbers, said it would raise the price of most flights but partially offset the increase by lowering fuel surcharges. From June 22, round-trip long distance flights cost around €30 ($37) more, while intra-European services will cost between €10 to €20 more. The increase, the first at Lufthansa since October, is to help finance investment in new aircraft like the Airbus A380 superjumbo and to redesign first- and business-class cabins, according to a spokesman. At the same time, Lufthansa will cut its fuel surcharges by €3 for a one-way flight in Europe and €6 for a long-distance flight, he added.

Reports say Anshu Jain could be in lead to be next CEO of Deutsche Bank

Three years before Josef Ackermann's leadership of Deutsche Bank is due to end, the bank's global markets head, Anshu Jain, has become the favourite to succeed him, banking sources said. The 47-year-old Jain heads the sales and trading arm that generated 80 percent of the profit at Germany's biggest bank in 2009. With the departure of co-head Michael Cohrs soon, he is expected to take on sole responsibility for Deutsche's investment bank, which Deutsche expects to generate three-quarters of pre-tax profits. He is credited with having managed rapidly to re-organise his division post-crisis and get it back to making money. In the first quarter of 2010, it generated €2.7 billion ($3.3 billion) in pre-tax profits. Since 2002 he has been on the bank's executive committee and since April 2009 a member of the management board, earning an estimated €9.7 million last year, €200,000 more than the man he might succeed, Josef Ackermann. Ackermann's contract runs until. A source close to the bank's management board said a move to find a successor to Ackermann was at least 18 months away. However, Ackermann himself has said that he had started intensive talks with Deutsche Bank Chairman Clemens Boersig about succession plans. Deutsche wants to avoid a repeat of last year's wrangle, when it failed to settle on a candidate to replace Ackermann, ultimately opting to extend the Swiss executive's contract. Despite his strong hand in the succession game, the Indian-born Jain still faces potential foibles, including his still limited German, media shyness, lack of political connections with Berlin and his close association with investment banking, frequently reviled in Germany.

Bayer MaterialScience invests in integrated production network

Bayer MaterialScience will continue in the future to network its activities in North Rhine-Westphalia (NRW) at the Leverkusen, Dormagen and Krefeld-Uerdingen Chemparks. This task transfers as of July 1, 2010, to the Bayer subgroup's newly established NRW site management unit. The production sites in Leverkusen, Dormagen and Uerdingen are to become more strongly interdependent. Close cooperation within the integrated production network offers several advantages. It creates an organizational structure for the uniform implementation of regulatory requirements imposed on the company in North Rhine-Westphalia. Management of the integrated production network is to be headquartered at the Dormagen Chempark, because of its advantageous location between Leverkusen and Uerdingen. Dormagen is home to Bayer MaterialScience's largest production plants with the most production employees in the state of NRW. Furthermore, Bayer MaterialScience wants to invest EUR 150 million in a new, high-tech TDI production plant there, which should add to the importance of the site. Head of the new integrated production network will be Dr. Klaus Jaeger, who for the last three years as Bayer MaterialScience. With 2009 sales of EUR 7.5 billion, Bayer MaterialScience is among the world’s largest polymer companies.

BASF snaps up Cognis for €3.1 billion

German chemical giant BASF based in Ludwigshafen in Rhineland-Palatinate said it would buy the specialist company Cognis (based in Northrhine-Westphalia) for a total of €3.1 billion. Its latest acquisition will help BASF focus on high-margin sectors such as personal care products and cosmetics as it diversifies away from core gas, oil, and plastics activities. BASF said it had agreed on terms of a sale with the owners of Cognis, investment fund Permira and US investment bank Goldman Sachs, based on an equity purchase price of €700 million. BASF chairman Jürgen Hambrecht told that the acquisition meant his group was "strengthening our portfolio with cyclically robust and profitable businesses and further expanding our position as the world's leading chemical company." Cognis produces chemicals used in a broad range of products, from cosmetics to adhesives and lubricants. It has 5,500 employees and posted sales last year of €2.6 billion. Cognis is BASF's biggest purchase since it bought the Swiss specialty chemical group Ciba last year for €3.8 billion. Cognis was the leading producer of surfactants used in detergents, and that it "has a strong global footprint" especially in Asia. The deal should boost BASF sales, which would have reached €48.7 billion last year if Cognis' results were included.

Two German retail chains up for sale

Major department store chains Karstadt and Kaufhof are up for sale. Metro has confirmed it plans to sell its department store subsidiary Kaufhof, at the same time reiterating its interest in buying some Karstadt stores from Arcandor, the retail and tourism group that collapsed last year. But administrators in charge of winding up Arcandor have made it clear they would prefer to sell all of Karstadt's 120 stores in a single package. There were three known bidders for Karstadt– the Goldman Sachs-led consortium Highstreet, buyout firm Triton and billionaire Nicolas Berggruen - who had submitted detailed bids by a May 28 deadline. Then came news of a fourth potential bidder. A St. Petersburg, Russia-based businessman Artur Pakhomov had made an offer in the mid-double-digit million-euro range to buy the entirety of Karstadt. Pakhomov was willing to finance Karstadt's Christmas 2010 sales season and planned to invest around 80 million euros ($98 million) annually to secure Karstadt's long-term viability and develop the chain internationally. Based in nearby Duesseldorf, Metro is still some way away from making up its mind about the sale of its subsidiary Kaufhof. Despite reports that there may be a few investors who are interested in both chains, it appears there is still no single bidder for both. Karstadt and Kaufhof stores attract more than three million customers per day. Both department store chains are big employers, with a staff of about 25,000 each. In June 2009, Karstadt had to file for bankruptcy after plunging from one crisis to the next. Kaufhof on the other hand, presents a very different picture: Metro chief Cordes praises the group’s subsidiary like a good salesman whenever he has the opportunity to do so. In 2009, the retail store increased its adjusted operating profit by 3.4 percent to 119 million euros, despite seeing turnover fall by 1.9 percent to 3.5 billion euros.

Bankrupt Karstadt chain finds US-German buyer

According to Karstadt's judicial administrator a US-German investor and the US fashion group BCBG Max Azria are to acquire Karstadt, the famed but financially troubled German department store chain. Klaus Hubert Georg said an offer for the 120 Karstadt stores from billionaire US-German investor Nicolas Berggruen Holdings and BCBG Max Azria had been accepted. Two other candidates had put forward offers for the chain, the German-Swedish investment group Triton, and the Highstreet real estate company. Karstadt was founded in 1881 and owns the famous Berlin department store KaDeWe, but has faced bankruptcy since 2009 after years of erratic management. Karstadt, which has around 25,000 employees in Germany, became insolvent in the summer of 2009 when its parent company, retail and tourism giant Arcandor, went bust. Arcandor has already sold off its mail order subsidiary Quelle.

WestLB Sale to Start by End of September after Supervisor Named

Germany’s Soffin bank rescue fund said the sale of state-owned lender WestLB AG will start by Sept. 30 at the latest after it appointed Friedrich Merz to oversee the process. Merz, a lawyer and former lawmaker and member of the European Parliament, has business experience and is politically connected in Berlin and Brussels, Soffin said in an e-mailed statement today. Dusseldorf-based WestLB, the bank’s owners and government authority responsible for financial market stability agreed to name an official to oversee the sale. Germany’s bank-rescue fund agreed last year to provide WestLB with 3 billion euros ($3.7 billion) in capital to help the lender restructure, improving its chances of finding a buyer. The bank was ordered to reduce its assets, shed risky businesses and sell itself by the end of 2011 under conditions imposed by the European Commission for approving the state aid.

EVENTS & PROMOTIONAL ACTIVITIES

India Meets Frankfurt Rhein Main - Let’ s talk business!, 02 June 2010

As a part of market expansion activities, ‘India Meets Frankfurt Rhein Main – Let´s talk business!’ is a series of events which was initiated by CGI Frankfurt in cooperation with Chamber of Commerce and Industry, Frankfurt; the Frankfurt Economic Development GmbH and the Frankfurt Rhein Main GmbH International Marketing of the Region. It was a part of market expansion activities of Consulate General of India.

With this series of events, the aforementioned German organizations, which can be characterized as the most important trade organizations in the Frankfurt Rhein Main region, jointly with CGI Frankfurt, aimed to establish a networking and information platform for the strong Indian business community in the Frankfurt Rhein Main region (around 230 firms are located in this region, out of which 70 can be characterized as majors).

One event of this series is held every quarter; the organization and hosting of the events alternates between the four organizations. The first event was organized and hosted by Frankfurt Rhein Main GmbH International Marketing of the Region in their premises on 18 June 2009. The second event which was organized by Frankfurt Economic Development GmbH and hosted in their premises was held on 5 November 2009. The third event was organized by CGI Frankfurt 11 March 2010 which was very successful and highly appreciated event.

The fourth event took place at the premises of Chamber of Commerce and Industry on 02 June 2010.

It focused on ‘Overcoming the cultural gap – result-oriented communication in Indo-German business projects.’ Dr. Jürgen Ratzinger, Managing Director International Business, CCI Frankfurt and Consul General Mr. Ajit Kumar made the welcome addresses. Mr. Ratzinger spoke about the relationa, cultural and economic, between India and Germany. Consul General spoke briefly about Indian economy. Mr. Debjit Datta Chaudhry, Co-Founder Elpis LLP and Value 8 gave a presentation on the cultural differences and communication in business matters in India and Germany.

Mr. Werner Burger, Head of Vendor Office, Diehl Aerospace GmbH gave an insight into the experiences of the company in India. There was a panel discussion-cum-Q & A session moderated by Ms. Margit Flierll, Founder, Delta Consultants.

The magazine ‘IHK WirtschaftsForum’ was introduced during the event. The Business magazine for the Frankfurt RheinMain region had India as centre of focus. (Report being sent separately). The event was attended by around 35 representatives from the Indo-German business community among them several senior representatives of major Indian and German organizations from the region. There was a networking session also with reception.

Annual Meeting of the Indo-German Chamber of Commerce in Düsseldorf – 16 June 2010

One of the important events of the weeklong celebrations was Annual Conference of Indo-German Chamber of Commerce (IGCC), which was held in Düsseldorf on 16 June. Several important dignitaries addressed on the Indo-German Trade Relations and the opportunities available for further improvements. A number of speeches was held by high-ranking representatives from politics and industry, as well as prize was awarded for excellence in India activities, which is given every year for extraordinary contributions to Indo-German trade

Dr. Wilfried Aulbur, Chief Executive of Mercedes-Benz in India and President of the Indo-German Chamber of Commerce gave the Welcome address. He said that it has to be ensured that Germany and India will be successful. He stressed the enormous economic significance of India for Germany.

Mr. Wilfried Kruse, Head of the Economics Department of the City of Düsseldorf: ‘The promotion/fostering of relations with India is of prime importance.’ He spoke as the representative of the City of Düsseldorf. He had himself accompanied Lord Mayor Dirk Elbers to India and according to Kruse this visit has consolidated the city of Düsseldorf’s commitment to fostering and strengthening relations with India. S.E. Mr. Thomas Matussek, Ambassador of Germany to India spoke on ’’The Land of Infinite Opportunities’’. He said that India takes an important place in the world economic affairs. He advocated a permanent seat of India in the Security Council of the United Nations.

H.E. Mr. Sudhir Vyas, Ambassador of India in Berlin: gave his address on ‘India is on a Path to Modernisation’. He spoke about modern, young India. He said that today the past achievements of India still are essential, as for example democracy, but by turning its back on gridlocked traditional role patterns the succeeding generation is contributing to change and modernisation is becoming possible in India. He also elaborated on Indo-German relations and said that while on the one side Germany is the eighth-largest investor in India, India’s investments in Germany have created 24,000 jobs over here – he also said that both countries were pursuing the goal of increasing bilateral trade to 20 billion US-Dollars by 2012.

Mr.Andreas Schmitz, Chairman of the Board at HSBC Trinkaus, President of the German Banking Association and Vice President of IHK Düsseldorf spoke on ‘’German Companies and Banks place their Hopes in India’’. Mr.Iris Winkler, Senior Manager at PriceWaterhouseCoopers’s topic was ‘’The Indian Tax System is supposed to be simplified’’. Mr. Som Mittal, President of Nasscom explored the topic ‘’German-Indian IT-Cooperations are attarctive for small and medium industries also.’’

Later Dr. Wilfried Aulbur spoke on ‘There are no Limits in what you can achieve’. He also gave an insight into the automobile industry in India and talked about his personal experience.

Since 2007 the Indo-German Chamber of Commerce has awarded prizes to its German members for India activities. This year Minimax GmbH was awarded for ‘Excellent export successes in the India business’ and the prize for ‘Special contributions to the development of Indo-German economic relations’ went to the company Reitz Ventilatoren GmbH.

The number of 380 participants makes it one of the largest India event in Germany. It is both information and networking event. The event was followed by lunch for networking.

India Week held in Cologne, 11 – 19 June 2010

Cologne hosted the India Week Cologne from the 11-19 June, 2010 with the objective of deepening and enhancing Indo-German relations on varied fronts. The Week began with cultural programmes of Indian music and dance followed by a number of events such as on Hindi literature, modern Indian literature, Indian art, tourism in Cologne, Indian economy and business etc. India Week Cologne also highlighted India’s potential as an investment destination. Some major events of the weeklong celebrations were the 5th Indo-German ICT Conference where the welcome reception was given by Osborne Clarke with the Indo-German Chamber of Commerce on 16th June. Speeches were made by Mayor of Cologne Mr. Juergen Roters, Mr. Sudhir Vyas, Amba ssador of India, Mr. T. Matussek, German Ambassador and others.

This was followed by a conference on 17th June organised by Mr. Ulrich Baeumer of Osborne Clarke where the opening session remarks were made by Mr. Som Mittal, President, National Association of Software and Service Companies (Nasscom), Mr. Ajit Kumar, Consul General of India and others. This was followed by a panel discussion session on several areas like telecoms, automotives, e-health, pharm/chemicals, logistics, etc.

The Indo-German business formum meeting was also arranged by Mr. Kiran Malhotra, President Indo-German Business Forum where Mrs. Angela Spizig, Vice Mayor of Cologne, Consul General Mr. Ajit Kumar, Mr. Gerald Boese, CEO, Cologne Messe, Mrs. Ursula Heinen-Esser, Parliamentary State Secretary and Member of German Parliament and others highlighted the Indo-German relationship in economic and trade field. The forum provided possibilities to further network with the business community and to improve Indo-German relationship. India week in Cologne ended with M+V European Cricket Cup where Indian Dare Devils led by Consul General Mr. Ajit Kumar defeated Cologne Challengers in the 25-overs cricket match. The match was well organised by M+V along with Indo-German Chamber of Cologne.

Students’ Exchange Programme from Springdales School Delhi, 11th to 23rd June 2010

12 students of Springdales School, Pusa Road, New Delhi visited Germany from 11th June, 2010 to 23rd June, 2010 under the school children exchange programme. During this period the children visited various places in Germany and also attended various cultural and educational programmes. The children were accompanied by two teachers. Ms. Lilli Poet, City Councillor, Frankfurt, welcomed the children on their visit to Germany.

Under this exchange programme, the children of both the countries visit the each other’s country and stay with the families of their counterparts and get themselves acquainted with their way of life. The students attended German classes. Apart from visiting many museums and gardens, the students also made a visit to the Legislative Assembly of Hesse in Wiesbaden. These children also visited Consulate General of India, Frankfurt. Consul (Commerce) attended the reception organized by Goethe-Gymnasium in Frankfurt/Main had for the students. He interacted with them. They were quite happy with their new found experience. He also met among others Ms. Lilli Poet, City Councillor, Frankfurt, Ms. Seema Kher, Local Coordinator, the Indian teachers accompanying the Indian children and other teachers of the school and exchanged views with them.

"Indo-German Family Day", 21 June 2010

The Indian community of FrankfurtRhineMain is steadily growing: more than 200 Indian companies and 6000 Indian nationals are present in the region today. Therefore, FrankfurtRheinMain GmbH International Marketing of the Region is also catering to the existing business community in the region, besides acquiring investors in India by taking part in fairs and marketing events, and helping Indian investors set up office in Germany.

To strengthen this relationship further, first "Indo-German Family Day" was organized on June 20, 2010 in cooperation with Indian Consulate and Bharat Verein e.V. (Indian Association) and with friendly support from the city of Büdingen and Wirtschaftsförderung Wetterau. The Indian community was invited along with family to this special event. From the Consulate general of India also many Consuls along with family participated in the tour.

After the arrival of participants, Fürstin von Ysenburg zu Büdingen, Mr: Vijay Mehta Consul (Chancery), Sibylle Yaakov, FrankfurtRheinMain GmbH and Anil Kumar, Bharat Verein e.V. gave the welcome addresses. There were many historical tours like Castle tour, old city tour, adventure tour for children in multiple small groups in German and English. After Lunch and returning to the Büdingen Youth Hostel there was an adventure programme in the afternoon, like Archery, Medieval dance group “Danze Luit” and Coffee and cake. The programme continued till late afternoon and then the participants were transferred back to the castle/ Frankfurt. The participation was free of charge.

During June

|Business Visa: 977 |

|Employment Visa: 148 |

|Trade Enquiries: 26 |

|Trade Disputes: 2 |

Trade enquiries from 26 Companies for about more than 130 items.

TRADE FIGURES

Trade between India and the 4 states

| |INDIAN EXPORTS TO |INDIAN IMPORTS FROM |TOTAL TRADE |

| |

| |Jan-April 2009 |Jan-April 2010 |% Change |

|Indian Exports |1,891.76 |1,898.12 |0.34 |

|Indian Imports |2,396.68 |2,827.07 |17.96 |

|TOTAL TRADE |4,288.44 |4,725.19 |10.18 |

| | INDIAN EXPORTS TO |INDIAN IMPORTS FROM | TOTAL TRADE |

| |

|Top 10 Items |

| |

|Value in 1000 EURO |INDIAN EXPORTS TO |

| |Jan-April 09 |Jan-April 10 |

|NORTH RHINE-WESTPHALIA | | |

|Textile products, not mentioned elsewhere |52,122 |48,000 |

|Apparel of knitted or crocheted fabrics of cotton |42,943 |44,289 |

|Apparel of cotton, excl. of knitted or crocheted fabrics |45,526 |33,903 |

|Articles of metal, not mentioned elsewhere |23,130 |21,396 |

|Articles of leather and leather clothes (excl. footwear) |17,776 |16,575 |

|Footwear |15,001 |16,475 |

|Pharmaceutical products |13,266 |16,032 |

|Shell-fruits and dried fruits |14,968 |14,579 |

|Television and radio transmitters and apparatus for line telephony and line telegraphy |1,701 |14,404 |

|Vegetable oils and fats |8,161 |13,993 |

| | | |

|HESSE | | |

|Mineral oil products |- |16,334 |

|Prefabricated chemicals, not mentioned elsewhere |15,149 |10,455 |

|Articles of leather and leather clothes (excl. footwear) |9,387 |9,490 |

|Motor cars and mobile homes |9,953 |9,487 |

|Machinery and apparatus for electricity production, distribution and control |7,285 |7,946 |

|Articles of rubber |4,491 |6,282 |

|Basic pharmaceutical products |5,055 |4,980 |

|Chassis, bodies, engines, parts and accessories for motor vehicles, etc. |2,114 |4,579 |

|Pharmaceutical products |2,573 |4,409 |

|Footwear |2,055 |3,683 |

| | | |

|RHINELAND-PALATINATE | | |

|Footwear |10,000 |12,774 |

|Jewellery, goldsmith's or silversmith's wares |6,705 |8,422 |

|Prefabricated chemicals, not mentioned elsewhere |8,209 |7,133 |

|Articles of metal, not mentioned elsewhere |2,764 |4,709 |

|Basic pharmaceutical products |1,335 |4,571 |

|Unmanufactured tobacco and tobacco products |3,540 |4,328 |

|Articles of leather and leather clothes (excl. footwear) |3,173 |3,598 |

|Pharmaceutical products |1,265 |3,461 |

|Bearings, gears, gearing and driving elements |1,630 |3,071 |

|Pumps and compressors |1,205 |2,936 |

| | | |

|SAARLAND | | |

|Footwear |48 |2,823 |

|Electric machinery, apparatus and appliances, not mentioned elsewhere |1,724 |2,124 |

|Articles of plastics |223 |1,589 |

|Tools and cutlery of base metals |531 |713 |

|Chassis, bodies, engines, parts and accessories for motor vehicles, etc. |240 |665 |

|Machinery and apparatus for electricity production, distribution and control |374 |521 |

|Measuring and automatic control instruments and appliances |209 |334 |

|Apparel of knitted or crocheted fabrics of cotton |521 |333 |

|Pumps and compressors |97 |290 |

|Bran, food waste for animal feed and other animal feedstuffs |160 |258 |

|INDIAN IMPORTS FROM GERMAN STATES OF NORTH RHINE-WESTPHALIA, HESSE, |

|RHINELAND-PALATINATE AND SAARLAND DURING JANUARY-APRIL 2009 & 2010 |

| |

|Value in 1000 EURO |INDIAN IMPORTS FROM |

| |Jan-April 09 |Jan-April 10 |

| | | |

|NORTH RHINE-WESTPHALIA | | |

|Complete factories |33,115 |105,321 |

|Bearings, gears, gearing and driving elements |42,626 |41,177 |

|Prefabricated chemicals, not mentioned elsewhere |28,823 |35,902 |

|Plates and sheets of iron or steel |21,848 |35,215 |

|Machinery for mining, quarrying and construction |28,307 |30,311 |

|Plastics |20,715 |29,136 |

|Machinery for textile, apparel and leather production |35,864 |28,240 |

|Tubes of iron or steel |17,593 |27,497 |

|Chassis, bodies, engines, parts and accessories for motor vehicles, etc. |7,204 |27,264 |

|Machinery, not mentioned elsewhere |32,401 |23,299 |

|HESSE | | |

|Basic pharmaceutical products |12,617 |19,365 |

|Measuring and automatic control instruments and appliances |7,430 |13,022 |

|Plastics |5,458 |10,923 |

|Machinery and apparatus for electricity production, distribution and control |8,872 |9,260 |

|Pharmaceutical products |7,730 |8,417 |

|Machinery, not mentioned elsewhere |6,158 |8,374 |

|End products, not mentioned elsewhere |3,409 |8,228 |

|Prefabricated chemicals, not mentioned elsewhere |6,124 |7,361 |

|Bearings, gears, gearing and driving elements |4,463 |6,304 |

|Paints, varnishes and mastics |3,786 |5,358 |

| | | |

|RHINELAND-PALATINATE | | |

|Prefabricated chemicals, not mentioned elsewhere |10,332 |16,211 |

|Machinery for mining, quarrying and construction |11,452 |14,613 |

|Lorries and special purpose motor vehicles |864 |10,380 |

|Chassis, bodies, engines, parts and accessories for motor vehicles, etc. |444 |8,898 |

|Chemical end products, not mentioned elsewhere |3,123 |8,374 |

|Pumps and compressors |18,001 |7,286 |

|Pharmaceutical products |94 |6,026 |

|Plastics |2,479 |5,405 |

|Semi-products of aluminium |1,558 |4,199 |

|Basic pharmaceutical products |6,531 |3,680 |

| | | |

|SAARLAND | | |

|Plates and sheets of iron or steel |15,170 |14,463 |

|Motors and engines (excl. engines for agricultural tractors, aircraft and road vehicles) |1,699 |8,106 |

|Machinery, not mentioned elsewhere |2,921 |4,754 |

|Articles of plastics |1,655 |3,027 |

|Wire of iron or steel |835 |2,554 |

|Chassis, bodies, engines, parts and accessories for motor vehicles, etc. |540 |2,405 |

|Bearings, gears, gearing and driving elements |603 |2,017 |

|Pumps and compressors |355 |1,764 |

|Machinery and apparatus for electricity production, distribution and control |2,074 |1,222 |

|Lifting and handling equipment |- |1,201 |

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