The German recession dampener for trade comes even as India’s exports to the country have been rising, led by a surge in the sale of telecom instruments to the European country.
Exports to Germany were up 14 per cent since 2018-19, compared to a 5 per cent rise in imports from the European country.
Segments affected would likely include chemicals, machinery, and electronics, according to Sanjay Budhia, chairman of the Confederation of Indian Industry’s national committee on imports and exports. Germany’s recession became official with statistical data released last week.
Indian exports to Germany have increased faster than imports over