India imports from Germany growing
India has transformed its status vis-à-vis Germany by changing from net exporter to the country to net importer of German products in the past five years.
By Gunjan Pradhan Sinha, TNN |
NEW DELHI: India has transformed its status vis-à-vis Germany by changing from net exporter to the country to net importer of German products in the past five years. This change has been fuelled by the high demand for capital goods in the country. In 2004 machinery topped the list of imports from Germany accounting for 32% of the total share of imports, according to an assessment made by India Brand Equity Foundation (IBEF).
The other major import items include metal products and electronic goods accounting for 12% and 11% of imports respectively. Between 2003 and 2004 there was a 78% increase in metal imports and 43% in electronic goods, according to IBEF.
However, there has also been a simultaneous change in the export component. Almost 72% of Indian imports are finished goods as against 34% in 1984. India exports textiles and leather goods to Germany with the former contributing to 28% of exports to the country and the latter 11%. Other items exported include chemicals, electro-technical, and pharmaceutical products, as per the IBEF report.
The other major import items include metal products and electronic goods accounting for 12% and 11% of imports respectively. Between 2003 and 2004 there was a 78% increase in metal imports and 43% in electronic goods, according to IBEF.
However, there has also been a simultaneous change in the export component. Almost 72% of Indian imports are finished goods as against 34% in 1984. India exports textiles and leather goods to Germany with the former contributing to 28% of exports to the country and the latter 11%. Other items exported include chemicals, electro-technical, and pharmaceutical products, as per the IBEF report.
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