Germany Trade and Invest (GTAI), the economic development agency of Germany, has been assisting German businesses in seeking opportunities in India and vice versa for almost three decades now. The Dollar Business caught up with Asha-Maria Sharma, Director, GTAI India, to understand how GTAI has been helping German and Indian companies – particularly SMEs – connect.
TDB: Germany Trade and Invest (GTAI) has been working towards improving trade relations between India and Germany for years now. Do you think bilateral trade between the two countries is heading in right direction?
Asha-Maria Sharma (AS): India is an important country for Germany, as India ranks 28th in the list of the most important suppliers and 24th amongst the most important German export destinations. Germany is also India’s largest trading partner in the EU.
The Germany Trade and Invest (GTAI) has been working closely with the Indo-German Chamber of Commerce (IGCC) for many years. And the bilateral trade between India and Germany clearly shows an upward trend. Although growth over the last few years has been moderate because of the gloomy global economy, the trade volume has grown to €17.4 billion in CY2016 from €10.5 billion in CY2006.
TDB: How do German companies perceive India’s present economic environment?
AS: Currently, about 1,800 German companies have business set up in India. In fact, many of them have been settled here for a long time now. In terms of doing business in India, there are still some challenges – for instance, logistics can be very challenging. But, with that said, the German business community has very well received the Indian government’s decision to liberalise the FDI regime and its efforts to improve the ease of doing business. And, most importantly, India offers immense business opportunities in various fields.
TDB: In what ways is GTAI helping Indian and German companies engage in investment and business?
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'We Are One Of India's Biggest Trade Partners'
References of a strong trade alliance between India and Netherlands can be traced back to the 17th century. Even today, the two nations boast of a robust relationship. In an interaction with The Dollar Business, H.E. Alphonsus Stoelinga, Ambassador of Netherlands to India, talks about the ways to further consolidate the strong bilateral relations and maximise opportunities for investors from both countries.
'India Is A Priority Market For Amul'
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New-gen Newsmakers
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We Will Be Exporting to 30 Markets From India by End of 2016
Daimler AG has been active in the commercial vehicle business in India since the 1950s. However, it only started manufacturing in the country in 2012 through its subsidiary Daimler India Commercial Vehicles (DICV). And since then there has been no looking back. The Dollar Business caught up with Erich Nesselhauf, MD & CEO, DICV, to know the secret to DICV's success.
Rcep Can Boost Business Across a Large Region
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MEIS: When Change Is the Only Constant
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FTP Mid - Term Review : Will Exporters Woes Continue?
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Exporters Find It Tough To Honour High Volume Commitments
Agricultural and Processed Food Products Export Development Authority (APEDA), established in 1985, has been instrumental in identifying new markets and providing better support systems to exporters of agricultural and processed food products. In a tête-à-tête with The Dollar Business, Devendra Kumar Singh, Chairman of APEDA, throws light on the various initiatives that APEDA is taking up to give exports a boost.
Can India's Outsourcing Industry Survive The Trump Attack?
Uncertainty has descended upon the $150-billion Indian outsourcing industry in anticipation of the protectionist regime under President Trump. Protectionism has been a popular election rhetoric across nations, and more so in recent times. And the voting masses seem to like it. Will Trump’s campaign cry for protectionism cross the boundaries of poetic drama and come alive as laws? There is no doubt that US being the largest consumer nation in the world, governments across the globe will keep a close watch on Trump’s policies. India will be no exception. The hot-button topic for India – ‘outsourcing’, has surfaced again and the impact of Trump’s announcements, be it restrictions on H-1B visas or penal taxes on US companies for outsourcing jobs, is being felt already in India. And this, coming during times when India's outsourcing industry has been experiencing a rough patch isn't an encouraging development. How hard will an avalanche of protectionist measures from the Trump regime hit India's outsourcing industry?
Our Sourcing From India Will Double In The Next Few Years
It's a known fact that the Indian government is working hard to increase defence and aerospace procurement from indigenous sources – from the current 40% to 70%, in the next 10 years. The Dollar Business recently caught up with Pratyush Kumar, President, Boeing India, to understand how manufacturers in India can leverage growth opportunities and what makes India a preferred sourcing destination for the American aircraft-maker.
