Potential for Growth
India is becoming increasingly significant both as a global economy and as Hamburg's trading partner. In 2019, the country was among Hamburg's ten most important trading partners with a trade volume of EUR 2.6 billion. Among non-European trading partners, India now ranks third, even ahead of Japan, making it the most important Asian market for Hamburg companies alongside China.
Especially for the Port of Hamburg, the past year began with positive developments. At the beginning of 2019, India had risen into the top ten most important trading partners of the port. In the first half of the year, 106,000 TEU (20-foot standard containers) were handled in Hamburg in direct traffic with Indian ports. This is an increase of 17 per cent.
Although, for the year 2019 as a whole, container traffic with India in direct traffic remained slightly below the previous year's level at 200,000 TEU, it achieved growth of over three per cent with transhipment volumes via Sri Lanka (+11.2 per cent to 123,000 TEU; new volume record in Hamburg). (Compare. Fourth Quarterly Report Hafen Hamburg Marketing)
Hamburg Companies in India
Many companies from Hamburg are active in India: More than 700 companies declare to maintain business relations to India. Key sectors include wholesale and foreign trade, logistics, engineering and electronic equipment, management consultancy and retail. According to the Ministry of Corporate Affairs in India, investments by Hamburg-based companies are estimated at an amount of over EUR 100 million. 55 Hamburg-based companies have a branch in India - including Beiersdorff, Hapag-Lloyd, Jungheinrich, Stulz, Lufthansa Technik, and many more.
Indian Companies in Hamburg
Hamburg is also becoming increasingly important as a business location for Indian companies. According to Hamburg Invest, the number of Indian companies in Hamburg is growing continuously and currently counts over 50. In 2019, five new Indian companies were acquired to locate in Hamburg.
Economic Forums, Actors and Institutions
A whole range of actors maintain business dialogue with India through networks and institutions, the German-Indian Round Table (GIRT) taking a leading role. This is an open platform for small and medium-sized enterprises which was founded in Hamburg in 2001 with the aim of promoting economic relations between Germany and India. GIRT is one of the initiators of India Week Hamburg which has presented Hamburg- India activities since 2007. Other significant actors are the Hamburg Chamber of Commerce, Hamburg Invest, the German Asia-Pacific Business Association and the Hamburg Ministry of Economics, Transport and Innovation.
Market Access to India
Not only in Hamburg but also in India companies receive support and advice.
In 2011, the Senate Chancellery together with the Hamburg Chamber of Commerce, Hafen Hamburg Marketing e.V., Hamburg Invest and Hamburg Messe und Congress GmbH (HMC) set up the Hamburg Representation Mumbai (HRM) at the Indo-German Chamber of Industry and Commerce (IGCC). With its specific knowledge about India and Hamburg in the fields of economy, politics, industries, culture and education, the team is available as consultants and mediators.
Hamburg Representation Mumbai (HRM) supports the establishment and deepening of economic relations between Hamburg and its Indian partners by, among other things, organising delegations, assisting with trade fairs and making contacts with relevant companies and associations on site.
Furthermore, the Hamburg Ambassador Amita Desai, Managing Director of the Goethe-Zentrum and the German Research Foundation, promotes the Hanseatic City in Hyderabad on an honorary basis.