Indo-German Trade Flourishes in Engineering Sector for 2018

Indo-German trade Flourishes in Engineering Sector for 2018
Indo-German Trade Flourishes in Engineering Sector for 2018

Germany is known globally for its engineering technology. The German manufacturers are internationally well positioned with their broad range of sectors - 23 out of 31 comparable sectors in which Germany is placed among the top three globally. India ranks 15th in the list of top 50 destinations for the German Mechanical Engineering exports globally.

Out of the total export of German Mechanical Engineering to Asia of € 41.9 billion, India is the second largest sales market in Asia for the German engineering industry, with a share of 8%, after China (45.5 %). In 2018, the total import of machinery from Germany reached a volume of € 3.40 billion. This was an increase by 9.3% compared with the same period of time in the previous year. On the other hand, in 2017, India imported machinery of the value € 18.37 bn globally. Germany is the 2nd most important supplier to India globally, share of around 16.7%, behind China (34.2%) and ahead of Japan (10.3%) and Italy (7.4%).

Among the machinery sectors, major demand of German equipment was for power transmission (10.8%), textile machinery (without dryers) (7.05%), machine tools (6.76%), valves & fittings (5.38%) and construction equipment and building material machinery (5.29%). Other sectors like air handling technology, fluid power equipment, plastic and rubber machinery and food processing & packaging, are also growing steadily in India.