Several Indian companies look for establishing business contacts with German companies. One of the ways, the Indo-German trade network assists these companies is to access the database. Associations, organizations, diplomatic institutions, chambers of commerce within Germany, bi-national chambers abroad etc. By regular monthly meetings and presentations connects Indian and German businesses, helping them network, form partnerships, get a cultural overview and also get a insight of business markets of both the countries. This is done through regular business meetings and company presentations.
Germany is a country of know-how and a country of inventors. India has the labour force to produce these products for a reasonable price. According to the German embassy in New Delhi, Indo-German trade has increased 289 percent since India opened its markets in 1991, an average of 19 percent a year.
Where there is a room for growth in trade?
There is growth in many fields, especially in pharmaceutical products, biotechnology, the automotive sector, geothermal energy and many more. India has opened it’s barriers since beginning of the nineties and possibilities for market entry are still being facilitated through the Indian government. The middle class in India is increasing, which also indicates that new products and new technologies are wanted especially from Germany.
what type of growth has been more prevalent: German enterprises setting up operations in India or Indian firms moving to Germany? Has one nation profited from the relationship more?
There is a difference when comparing the countries. Since it is possible to create subsidiaries in India, German companies often set up a branch or some operations in India. Joint ventures with Indian companies are still very common, but therefore it is indispensable to know the joint venture partner very well. Indian companies do expand their product ranges or their sales departments by buying companies in Germany.