The Economic Times
The financial system in a country plays a pivotal role in enhancing its trade relations with other economies. The efficiency of banks and financial institutions is critical for companies engaged in trade-related activities. As one of the premier banks in India, HSBC has been actively involved in helping Indian companies, including small and medium enterprises, execute their trade transactions smoothly.
Puneet Chaddha, managing director and head, commercial banking, HSBC India, feels that Indo-German trade offers enormous opportunities that are waiting to be tapped. Though the global meltdown is likely to affect the volume of trade, the bankers feel there are positives as well that bode well for the future.
Speaking on the sidelines of the Indo-German Trade Summit jointly organised by HSBC and The Economic Times, he said, "The inherent strengths of the industrial environment in India and Germany are complementary. Whilst strong technical expertise and industrial research characterise the German industry, a strong underlying production capability along with the ability to quickly integrate innovations and a strong IT capability are demonstrated by Indian firms.
This ensures that there are significant avenues to establish mutually beneficial relationships between Indian and German companies." "We do expect growth on the longer term and capex investments are likely to strengthen. Consequently, the growth areas would continue to be machinery and equipment imports from Germany. Key exports from India would be garments and also software and offshoring services," added Bhriguraj Singh, senior vice-president and head, trade services, HSBC India.
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