The outlook confirms India's emerging role as an attractive investment location for German companies.
The overall reports from the German- Indian Business Outlook 2024 have been positive and it displays a streak of progression throughout the years. There are high expectations regarding the increase of revenues and profits in 2024.
Together with a strong trend towards rising investments in the next five years, India is seen advantagous over other Asian countries with respect to
- consistently strong economic growth,
- availability of well- educated English- speaking specialists,
- low labour costs.
Included in GIBO 2024 is the growing importance of India as a sales market as well as a location for production and shared service centres. Already cited as a sales market today by more than one- quarter of respondents (27%), surveys indicate a further increase by 13%- points to 40% in India.
The main areas of investment in India in the short and the long term are respectively
- digitalization of internal processes
- artificial intelligence, algorithms and machine learning.
The macroeconomic overview reports substantial growth of foreign trade. Bilateral trade in goods between Germany and India in 2023 exceeded the record figure of the previous year. Trade volume increased by 5% compared to 2022 and amounted to EUR 30.8 billion.
To have a look at the complete GIBO 2024, go to:
