India, Germany can attain trade target of $26.16 bn this year

SME News, Friday, Nov 02, 2012 13:05:39 PM IST

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NEW DELHI: India and Germany are in a position to attain the trade target of Euro 20 billion ($26.16 billion) during this year, according to Union Minister of Commerce Industry and Textiles Anand Sharma.

The bilateral trade between both the nations was at $23.566 during last year.

Both the leaders also threw light on the progress of India-EU Broad-based Trade and Investment Agreement (BTIA) and displayed commitment towards balanced pact.

The Chief negotiators are scheduled to meet in Brussels on Nov 8, 2012 and a delegation will be visiting India this month.

During 2011, Indian export to Germany touched $8.25 billion and import wast at $15.31 billion. Foreign Direct Investment (FDI) inflows from Germany into India are about $4.9 billion.

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