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New Delhi, Feb 14: Total trade between India and Germany recorded a high of $4,511.21 million during 2002-2003 with Germany emerging as India’s fourth largest trading partner.
Due to revaluation of euro, the export possibilities for Indian trade have improved and the Indo-German trade has the potential to hit a high of five billion euro (about Rs 26,000 crore), according to an approach paper prepared by Ficci.
As the German retail trade is shrinking, this figure would be a significant achievement, says the paper.
India exports cotton and other man-made fibres; leather goods; carpets; silk fabrics; drugs and pharmaceuticals; gems and jewellery; dyes and intermediates and machinery and instruments to Germany. On the other hand, the major import items from Germany include machinery, project goods, electronic goods, organic chemicals, iron and steel, machine tools, transport equipment etc.
Most Indian companies that have started operations in Germany belong to the software and electronics industries.
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