Communicate To Collaborate

German mechanical engineers find India attractive

1 week ago
thedialog
4
Mechanical Engineering

Photo source: freepik.com

Introduction: The Indian market is becoming increasingly profitable for German machine manufacturers. As per a recent survey done by the German Engineering Federation (VDMA) two third of the member companies said that they are heading to do good business in India in the coming months. The Purchase Order (PO) books of more than 50% of the 100 subsidiaries interviewed are expecting sales revenue to go up. Today Germany is India’s largest trading partner in Europe

 

Indian Imports from Germany 

The trade between India and Germany has been steadily growing over the past few years, and India is now one of Germany’s most important trading partners. The bilateral relations were founded on common democratic principles and are marked by high-level trust and mutual respect. Germany Exports to India was US$17.97 Billion during 2023, according to the United Nations COMTRADE database on international trade.

India imports a wide variety of goods from Germany, including chemicals, auto components, measurement and control equipment, machinery, electro technology, metal and metal products, plastics, pharmaceuticals, paper and printing materials, and medical technology.

 

Conclusion

The bilateral trade between India and Germany has increased over the past few years, and the future indicates a lot of trade opportunities. There are more than 1700 Indo-German collaborations and over 600 Indo-German Joint Ventures in operation. Various programs have been set up in order to facilitate the realization of business opportunities in India such as the Fast-Track-System for German companies or the Make-in-India Mittelstand-Program.