Bilateral Business Defies Financial Crisis and Economic Slowdown
Indo-German Economy, Vol. 56, Issue 2, pp. 19-21
2 Pages Posted: 12 Jun 2012
Date Written: May 1, 2012
The bygone year, 2011, which witnessed the launch of a “Year of Germany” in India to commemorate 60 years of bilateral diplomatic relations between the two countries, saw a continued upswing in the business relations, as indeed in other spheres. The two countries have touted their relations as consisting of “infinite opportunities” and the latest data on foreign trade released by Germany’s Federal Statistical Office seem to suggest that the opportunities are being actually utilized progressively.
The bilateral trade volume in calendar year 2011 registered a staggering growth of 18.7% and is estimated to have stood at €18.4 billion, up from €15.5 billion in 2010. The growth in bilateral exports and imports outperformed the overall growth in Germany’s trade. This is especially remarkable because the almost “hyper” growth comes in the backdrop of a continuing financial crisis in Europe and an economic slowdown in India.
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