Indo-German Trade Continues its Dream Run in 2011 : Bilateral Business Defies Financial Crisis and Economic Slowdown

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 seems to suggest that the opportunities are being actually utilized progressively.The bilateral trade volume in calendar year 2011 is estimated to have stood at €18.4 billion, up from €15.5 billion in 2010, thereby registering a staggering growth of 18.7%. The growth in bilateral exports and imports outperformed the overall growth in Germany's trade with the rest of the world. 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