VOIWORLD
India’s growth story has been attracting global investments over the years, and in yet another boost to its prospects, the Indian embassy in Berlin organised the “Make in India, For the World” event on November 14, 2023. The programme was arranged so as to provide information on opportunities and inducements for German companies to invest in India. The event was held in collaboration with the Department for Promotion of Industry and Internal Trade and ‘Invest India’, which is the National Investment Promotion and Facilitation Agency of the Government of India. It is also the first point of reference for the global investment community.
Speaking on India’s robust economic growth and the many benefits it provides to German investors were Ambassador Harish Parvathaneni and Secretary Shri Rajesh Kumar Singh of the Ministry of Commerce and Industry’s Department for Promotion of Industry and Internal Trade. German companies were urged to invest in India by Dr. Andreas Nicolin, Head of Department, Investment Screening and Asia Pacific, Federal Ministry for Economic Affairs and Climate Protection in Germany. A presentation on the many industries in which India offers advantages to investors was delivered by Shri Balamurugan, Joint Secretary in the Department for Promotion of Industry and Internal Trade. Industry representatives discussed their experiences conducting business in Germany and India at a spirited panel discussion.
Notably, Germany is India’s largest commercial partner in the European Union, and the two countries have strategic cooperation. Germany is aware of India’s importance in the Indo-Pacific area, especially in light of the ongoing political and economic unrest there. Since 2001, the two nations have had strong connections and have discovered new areas of collaboration, including start-ups, digitalization, sustainable energy, e-mobility, smart cities, and digital agriculture.
As per a report by KPMG, for German enterprises, political stability (62%), the availability of a highly trained workforce (56%), and relatively cheap labour costs (45%) are the three most essential aspects when choosing a location in India. As of right now, Germany ranks sixth among foreign direct investors in India. In the current year, 53% of German businesses want to increase their investments here. Merely 36% of the organisations had plans to do so two years ago. Nearly three-quarters of the corporations (73%) aim to invest in India during the next five years. Compared to 2021, that is twice as many.
https://www.voiworld.com/netherlands-announces-end-of-golden-visa-scheme-will-it-impact-indians/
