The study identify partnership opportunities for both India and the Germanic countries in the area of IT services, Business Process Outsourcing (BPO) and engineering services.
The Germanic region comprising Austria, Germany and Switzerland – is one of India’s most important trading partners with a total annual business of more than USD 32 billion. Germany and Switzerland figure among India’s top 10 trading countries with machinery, energy, textiles, and chemicals being the largest traded commodities. Beyond the trade partnership, the Indo-Germanic relationship has been based on economic and political cooperation, shared values and agreement on international affairs. There exists an opportunity for the Germanic region and India to leverage the past economic relations and their individual strengths for common interests. This will require both India and the Germanic countries to strategically align themselves – by being conscious of the markets, regulations and the preferences of both the sides.