Indo-German trade crosses $7.62 bn in first half of 2007
The trade between India and Germany has recorded a 15.63 per cent growth in the first half of 2007 to reach $7.62 billion, Indo-German Chamber of Commerce (IGCC) has said.
By PTI |
NEW DELHI: The trade between India and Germany has recorded a 15.63 per cent growth in the first half of 2007 to reach $7.62 billion, Indo-German Chamber of Commerce (IGCC) has said.
The value of trade between the two countries stood at $13 billion last year.
Export to Germany for the January-June period of 2007 grew 12.64 per cent to $3.18 billion, while imports from Germany stood at $4.44 billion during the period, a 17.86 per cent rise over the same period of last fiscal, IGCC Deputy Director-General Ajay Singha said in a statement today.
He said bilateral trade has witnessed significant changes, given India's shift from export of agricultural products to industrial products and finished goods. Industrial products constituted around 92 per cent of the total exports.
"Over the recent years, we have witnessed a shift in the business interests of Indian companies, especially in the engineering sector. Indian SMEs have geared up their technologies and production capacities and are keen to provide a sourcing hub to their German counterparts," Singha said.
An increasing number of Indian SMEs are showing keenness for strategic tie-ups with German firms for technology transfer as well as joint ventures to set up manufacturing facilities in India.
India's interest in German firms is being reciprocated with Germany investing 933 million dollars in the first half of 2007 compared to $264 million in the same period last year, he added.
The value of trade between the two countries stood at $13 billion last year.
Export to Germany for the January-June period of 2007 grew 12.64 per cent to $3.18 billion, while imports from Germany stood at $4.44 billion during the period, a 17.86 per cent rise over the same period of last fiscal, IGCC Deputy Director-General Ajay Singha said in a statement today.
He said bilateral trade has witnessed significant changes, given India's shift from export of agricultural products to industrial products and finished goods. Industrial products constituted around 92 per cent of the total exports.
"Over the recent years, we have witnessed a shift in the business interests of Indian companies, especially in the engineering sector. Indian SMEs have geared up their technologies and production capacities and are keen to provide a sourcing hub to their German counterparts," Singha said.
An increasing number of Indian SMEs are showing keenness for strategic tie-ups with German firms for technology transfer as well as joint ventures to set up manufacturing facilities in India.
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India's interest in German firms is being reciprocated with Germany investing 933 million dollars in the first half of 2007 compared to $264 million in the same period last year, he added.
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