German Firms Eye Indian Partnerships To Boost High Tech Manufacturing

(MENAFN- KNN India) New Delhi, Jun 9 (KNN) As India approaches the milestone of becoming the world's fourth-largest economy in the current fiscal, German companies are stepping up efforts to partner with Indian firms to introduce advanced technologies in manufacturing.

Sectors such as green energy, semiconductors, and pharmaceuticals are the primary focus for German firms seeking collaboration.“India is a growing market with immense talent.

We're here to offer our expertise in production technologies and connect with potential partners,” said Rainer Wittich, CEO of Germany-based EDAG Production Solutions GmbH & Co. KG.

The Indo-German Chamber of Commerce, in partnership with EDAG Group's Indian division, hosted an event in New Delhi to foster business collaborations with Indian companies and professionals.

Stefan Halusa, Director General of the Indo-German Chamber of Commerce, emphasised India's growing relevance in global manufacturing.

“Smart factories, smart talent, and innovative product development are at the heart of this transformation. The response has been very encouraging,” he said.

Halusa cited three key reasons behind Germany's growing interest in India: its rapidly expanding market, large-scale production capabilities, and robust R&D ecosystem.“India is not just a local market; it's also a base for exports and innovation. German companies see great potential here,” he added.

He also highlighted the importance of the India-EU Free Trade Agreement (FTA), still under negotiation.“The FTA could be a game changer. Without it, there's a risk of falling behind other global players,” Halusa noted.

Bilateral trade between India and Germany stood at USD 26.10 billion in 2023-24, with Indian exports at USD 9.83 billion and imports at USD 16.27 billion. Germany remains India's 10th largest export partner.

(KNN Bureau)

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