Indo-German bilateral trade to cross Rs 20,000 crore by December 2001

New Delhi, May 15

INDIA’s bilateral trade with Germany is expected to continue its good run in the year 2001 with early forecasts predicting trade to cross Rs 20,000 crore by December.

"The total Indian exports to Germany for the year 2001 are expected to reach Rs 11,600 crore and imports Rs 9,700 crore," director, Indo-German Export Promotion Project, Dr D Kebschull said here.

During January and February, Indian exports grew by 15 per cent to Rs 1,701 crore from Rs 1,476 crore in the same period last year, he said. At the same time, German supplies shot up by 20.5 per cent to Rs 1,495 crore from Rs 1,239 crore in the corresponding period in 2000-01.

He said the forecast assumes that period of low interest rates in leading economies will continue and no additional pressure is expected from the oil exporting countries.

"The forecast for the year 2001 is based on a model calculation taking into consideration the export-import performances of India over the last ten years and development of world trade. It clearly shows that the trend for double-digit growth for India’s export for Germany and for German supplies to India is continuing," he said.

Mr Kebschull said that although Indian exports to Germany had become more expensive during the year 2000 on account of the depreciation of the euro and the deutche mark, Indian exporters had been able to overcome the disadvantage. (PTI)