Hamburg's economy sees great opportunities in India
Hamburg's economy believes it has great opportunities in the rapidly growing Indian economy. "India plays an important role for Hamburg's foreign trade not only because of its market size," according to a statement from the Chamber of Commerce on Tuesday. "Both as an alternative source of supply and as an export market, but especially in research and development, India is moving into the focus of Hamburg companies, as evidenced by the increasing number of centers for research and development of large companies."
India, which has overtaken China as the most populous country, is now the fifth largest economy in the world, just behind Germany.
"India is a very important economic partner for Hamburg. We are seeing new record figures in goods trade and container handling," said Chamber of Commerce President Norbert Aust at the start of an "India Week" in the Hanseatic city. "When it comes to innovation topics such as the decarbonization of industry and digitalization, we cannot ignore India."
Hamburg's economic prospects in India extend beyond just foreign trade, as indicated by the increasing number of research and development centers established by Hamburg companies in India. The economic situation between Hamburg and India is significant, with India being a vital export market and alternative source of supply, particularly in the fields of research and development.
Source: www.dpa.com
