German Firms View India as Manufacturing & Innovation Hub
Piyush Goyal meets representatives to discuss India-Germany trade and manufacturing cooperation.
Key Highlights
Commerce Minister Piyush Goyal reveals German companies now view India as a strategic hub for manufacturing, R&D, and innovation, boosting bilateral ties.
Commerce and Industry Minister Piyush Goyal has stated that German companies are increasingly viewing India as a strategic destination for manufacturing, research and development, and innovation, while also acknowledging its importance as a major consumer market. The minister was in Germany to discuss measures to enhance bilateral trade and investment cooperation.
Key Details of the Diplomatic Visit
Following the completion of his two-day visit to Germany, the minister engaged in several bilateral discussions with representatives from various companies. The engagement highlighted a major shift in how European industry approaches the South Asian market.
The discussions involved leadership from several key organizations:
- Siemens Healthcare
- Bertelsmann Investment
- Volkswagen
- Skoda
He stated, ‘The CEOs echoed one message – German companies no longer see India only as a market, but as their partner, as a base for manufacturing, for research and development, for innovation.’
The Core Numbers and Operating Scale
The operational landscape currently reflects a strong foundation of cross-border corporate activity. The existing footprint demonstrates established commercial ties between the two nations.
The current operational scale includes the following metric:
- Approximately 2,000 German companies operating in India
He said German precision and research, combined with India’s skill and talent to innovate and manufacture for the future, and investing in the India growth story, will change the global perspective and outlook toward India. Further, he said relations between the two countries open doors not just for trade in goods and services, but also open the door for talent, innovation, co-creating, co-designing, co-developing, and co-manufacturing.