Indo - German Trade Relation
Many years of collaboration and mutual understanding has been the bench mark of India Germany trade relations. Political relations date back to the 1950s
Economic Relations between India and Germany
Indo- German Chamber of Commerce (IGCC) has eventually expanded into the largest foreign chamber of commerce and trade in India and has also become the largest German binational Chamber globally. In 2006 the IGGC celebrated its 50th year of trade and commerce relations. India also partnered with the Germans in the 2006 Hannover Fair, which is recognised as the world’s largest technology fair. The IGGC have set up a goal to achieve trade up to 20 billion Euros by 2012.
India’s overall Exports to Germany
The bilateral trade relations between India and Germany have remarkably increased over the years and both Indian and German firms have had their share of investment. Post recession period Indian exports to Germany have seen an incredible growth in 2010, recording a total increase of 21.5%. The figures of total exports have touched to Euro 6.2 billion.
Indian textile Exports to Germany
The Indian Textile industry generally comprises of manufacturers, wholesalers, suppliers, and exporters of cotton textiles, handloom, woollen textiles etc. Germany is one of t he foremost importers of handmade fibre textile of India. Indian textile export to Germany resulted for the highest share and it amounted to Euro 1.5 billion in 2010.
Indian IT Exports to Germany CeBIT 2011, Hannover Germany
One of India’s prime trade facilitation organizations, Electronics and Computer Software Export Promotion Council (ESC) having more than 2,300 members took part in a grand way at the CeBIT held from March 1-5th 2011at Hannover, Germany. CeBIT is one of the best known international trade fair showcasing
the technological process used all across the world. The main objective of the trade show was to help out the associate exporters to expand their business base globally. Users from industry, skilled trades, banks, services sector, government agencies, science and all passionate about technology were the key target groups.
Roughly 20 Indian ICT companies participated at CeBIT under ESC banner. The mass participation of the List of Companies in India clearly indicated their increasing interests of investment in the EU region, with Germany being a prime target. ICT products as ERP, business process management, business intelligence, vertical market solutions, managed services, internet solutions, web content management, ecommerce, web design and technologies and many others were on display at the CeBIT. ESC has been a regular participant at the CeBIT since last many years. The Indian companies under ESC have expressed their interests in setting up joint ventures, having further marketing associations with the EU. The ESC has reportedly mentioned that there has been a remarkable rise in ICT exports from India to Germany.
INDIASOFT 2011
The ESC also hosted a large delegation from EU which participated at INDIASOFT 2011 on March 25-26. INDIASOFT is one of the biggest IT networking events as per global standards and this year’s venue for the event was Pune. It resulted in further strengthening the IT relations between India and EU and particularly with Germany.
India has requested to Germany to remove technology trade restrictions
For better trade relations, especially high-end technology trade with Germany, India has urged the
European nation to ease trade restrictions and thus provide a suitable platform for both the countries to work on and gain mutual benefit.
Indian Leather Export to Germany
The Indian leather export industry eyes Germany as a prime target for exporting its leather items. 80 per cent of the country's total leather exports are mainly to the US and Europe with Germany accounting to 14 percent, to UK around 13 percent, the US about 9 percent.
Indian Agro Exports to Germany
Agricultural sector is the backbone of the rural Indian economy. Agro Exports to Germany from India has been a significant part of the total export of Indian agricultural items. The major Indian agricultural products exported to Germany are floricultural products, walnuts, dried and preserved vegetables, poultry products, processed meat, natural honey etc. Among the floricultural products, the chief share is of cut flowers.
Cut flowers, flowering and ornamental plants, bulbs, tubers, rhizomes, chicory, orchids, mosses etc are the, main floricultural items exported from India. Germany holds a percentage of 5.41% in the floriculture export market of India.
Indian Glass Industry Trade with Germany
Kolkata based Hindustan National Glass & Industries (HNG), has bought a German company, Agenda Glass, (AG) for an un-revealed amount. HNG is India’s largest maker of glass containers and has a total share of 55% in the market. The new company has been renamed as HNG Global GmbH. The deal was signed this May11, 2011. Saxony Anhalt will continue to be the main centre for glass production in Germany, as ensured by HNG. HNG can benefit from the "excellent conditions" available as high quality raw materials and modern infrastructure.
Figures of Indo-German Export Market
Overall the export industry is growing day by day and the figures indicate a rise in the trade between the two countries. The textile industry accounts for the highest trade with figures of export touching Euro 1.5 Billion. The second position is occupied by the chemical products which are worth about Euro 585 million. Data processing, electronic and optical equipment with € 579 million come next to it. The fourth and fifth spots are taken by machinery with € 418 million and leather products with € 396 million.
German Exports to India
Germany, which is one of the world’s leading exporters stands on the fifth position globally as India’s trade associate. It is also the largest trading partner within the European Union. Germany shares a notable 11 per cent of the total business dealings between EU and India. German exports to India grew to € 8.2 billion, advancing at a rate of over 12 per cent in 2008. In 2009, this figure reduced by 1.2 percent to arrive at € 8.1 billion.
India Germany Tourism
German Tourism Board has launched shops in India German National Tourist Board launched more tourism operators and travel agencies and special schemes for the Indian tourists willing to travel to Germany.
Indo German Friendship Society Goa (IGSG) to organise fourth German Cultural week in Goa: The success of the third German Cultural Week held from December 8-12, 2010 has further inspired the organisers of the festival to come up with more lively events in December 2011. The festival will be celebrated from December7-11, 2011.