Home > Business > PTI > Report

Indo-German trade to touch Rs 26,000 cr in 2003

December 31, 2003 16:26 IST

Indo-German trade should touch Rs 26,000 crore (Rs 260 billion) in 2003 as a result of appreciation of the euro against the dollar which would result in a shift from dollar invoicing, D Kebschull, director, Indo-German Export Promotion Council, said on Wednesday.

Revaluation of the euro has improved the export possibilities for Indian trade, he said, adding Indo-German trade is expected to cross the magical figure of five billion euro (about Rs 26,000 crore) during calendar 2003.

In 2002, the bilateral trade between India and Germany was at 4.94 billion euro [Rs 23,000 crore (Rs 230 billion)] and given the shrinking German retail trade, the targeted five billion euro trade would be a significant achievement, he said.

In 2003, German exports to India are expected to be worth 2.3 billion euro, a dip of seven per cent, mainly due to steep increase in the exchange rate for euro while India's total exports to Germany should be 2.7 billion euro, an increase of about four per cent over 2002.


Article Tools
Email this article
Print this article
Write us a letter



Related Stories


Indo-German trade to go up

Export growth slips to 5.07%

Jaitley slams rich nations



People Who Read This Also Read


Central Bank cuts BPLR to 11%







© Copyright 2003 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.











Copyright © 2003 rediff.com India Limited. All Rights Reserved.