India's Machinery Exports to Germany Surge to $4.13 Billion in 2024

New Delhi, Feb 14 (PTI) India's export of machinery & components to Germany jumped over four-fold to USD 4.13 billion in 2024 and is expected to maintain double-digit growth in coming years, according to the managing director of VDMA India office.

Addressing the second edition of LogiMAT India 2025, Rajesh Nath, Managing Director of the German Engineering Federation (VDMA) India Office said, "For the first time in 2023, exports of Indian machinery and components to Germany had surpassed the 1 billion USD mark."

The year 2024 witnessed the export of machinery and engineering goods crossing the USD 4.13 billion mark and expected this growth to double-digit in the upcoming years, he said.

LogiMAT India is the satellite show of Europe's biggest intralogistics exhibition, LogiMAT Stuttgart which is organised by Messe Stuttgart India.

LogiMAT India, a three-day-long event, will conclude on February 15 at the Bombay Exhibition Centre, Mumbai.

Nath said, "Indo-German trade has been developing very well, with an annual growth of nearly 8 to 10 per cent. Currently, this trade amounts to approximately 30 billion euros... We expect bilateral trade to maintain this growth rate in the coming period."

A key aspect of this bilateral trade is the machinery sector, which constitutes about 32 per cent of the total trade, he noted.

Exports of German machinery to India have reached approximately 4.5 billion euros, reflecting a growth of around 10 per cent compared to the previous year, he stated.

Sascha Schmel, Managing Director of Intralogistics and Material Handling Department in VDMA, said, "India is...a booming market, as evidenced by the rising GDP figures. This growth applies to both production and supply chains... Germany's interest in the Indian market is increasing daily, supported by the developments making headlines here."

Stefan Halusa, Director General of Indo-German Chamber of Commerce said, "Indo-German trade relationships have significantly expanded over the past few years. The positive aspect of these trade relations is their balance - there is no deficit on either side, which indicates a healthy trading environment."

India and Germany have established a strategic partnership, maintaining strong bilateral and trade ties since 2000.

Recently, both nations signed a Memorandum of Arrangement to facilitate mutual logistics support and exchange between their armed forces.

Germany is also India's largest trading partner in Europe.

Various initiatives illustrate this partnership, including the Market Entry Support Programme and the 'Make in India Mittelstand' (MIIM).

Additionally, Messe Stuttgart, Germany's one of the major organisers of trade fairs, congresses, and events, is assisting India in its vision of Viksit Bharat through Messe Stuttgart India.