India: Chances for the German electrical industry
According to the ZVEI, the Indian electrical market currently has a volume of approx. EUR 61 bn with an annual growth rate of 3%.
Many German companies in the electrical industry, including medium-sized companies, are already operating in India, some of them in joint ventures.
The reform and modernization strategy just announced by the Indian Prime Minister may open up big market opportunities for the German electrical industry and its innovative products.
In 2013 the volume of exports by German electrical companies to India stood at EUR 1.8 bn, which is relatively small, so that there is still potential here.