Indo-German trade should touch Rs 26,000 crore (Rs 260 billion) in 2003 as a result of appreciation of the euro against the dollar which would result in a shift from dollar invoicing, D Kebschull, director, Indo-German Export Promotion Council, said on Wednesday.

Revaluation of the euro has improved the export possibilities for Indian trade, he said, adding Indo-German trade is expected to cross the magical figure of five billion euro (about Rs 26,000 crore) during calendar 2003.

In 2002, the bilateral trade between India and Germany was at 4.94 billion euro [Rs 23,000 crore (Rs 230 billion)] and given the shrinking German retail trade, the targeted five billion euro trade would be a significant achievement, he said.

In 2003, German exports to India are expected to be worth 2.3 billion euro, a dip of seven per cent, mainly due to steep increase in the exchange rate for euro while India's total exports to Germany should be 2.7 billion euro, an increase of about four per cent over 2002.