German firms eye India for future tech collaborations in manufacturing sector
New Delhi: As India is on the brink of becoming the fourth-largest economy in the current fiscal, an increasing number of German companies have ramped up their hunt for Indian partners with the intention of providing future technologies in the manufacturing sector.
The German companies are looking for local partners to help Indian businesses in advancing production in areas such as green energy, semiconductor, and pharmaceutical sectors, among others.
"India is an important market; it's a growing market and has a huge amount of talent, and we are looking for talent because we are developing new technologies. We are the experts in the production field, and we are developing from the first sketch until the start of production. What we are doing here is we have invited our potential customers to this place (India)," said Rainer Wittich, CEO of EDAG Production Solutions GmbH & Co. KG.
"Many customers are going more and more into this activity. They want to build up the production areas more in the field of new technologies like green energy, electrolysers, semiconductors, and medicine pharma, and there we can help with our expertise," Wittich added.
The Indo-German Chamber of Commerce, in association with the Indian arm of Germany-based EDAG Group, organised an event to explore business partnerships with emerging local companies and talent to facilitate manufacturing.
Talking to ANI during the event in New Delhi, Stefan Halusa, Director General at Indo-German Chamber of Commerce, said, "So we're talking about smart factories, we're talking about smart people, we're talking about smart product development, and all of that contributes to the smart industry and for that we are getting very good responses because it gives a glimpse of what the industry could be like in a couple of years."
Answering the question of increased interest of German companies in India, Halusa said three factors are attracting German companies towards India, and they are local markets and economic growth, scale and capabilities of the economy.
"The first (factor) is the local market. The Indian economy is growing and it will continue to grow over the next couple of years. So if you look at growth around the world, India is one of the first and most important countries to look at. The second is scale. You look at India for export as well, to invest here also for exporting your goods and services, and the third one is the capabilities," he added.
Halusa further added that India has become a hub for research and development (R&D), which is another major factor towards the greater interest of German companies.
"A lot of global capability centres are here, so it becomes a hub for research and development and engineering, and this combination is unique, and this is why German companies are looking for growth around the world. This is why they come to India," Halusa added.
Going further, Halusa asserted that the German companies are waiting for the ongoing India-EU Free Trade Agreement (FTA) to be concluded, as Germany currently does not have an FTA with India.
"Our companies, of course, tell us that they're waiting for the FTA to be concluded because that could really be a game changer for German and European companies. Because India has already concluded trade agreements with a whole number of countries but not with Europe. So there is a risk for us to fall behind, and this is why it's so important for the German and European industry that actually now comes to a conclusion," he added.
The trade between two countries has reached USD 26.10 billion, with Indian exports at USD 9.83 billion in 2023-24. Indian imports from Germany reached USD 16.27 in FY24. Germany is currently the 10th largest trading partner in exports for India in April-October 2024.
On the government front, leaders of both partner countries have underscored the crucial importance of a comprehensive Free Trade Agreement, Investment Protection Agreement and an Agreement on Geographical Indications between the European Union and India.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Times of Oman
4 hours ago
- Times of Oman
German firms eye India for future tech collaborations in manufacturing sector
New Delhi: As India is on the brink of becoming the fourth-largest economy in the current fiscal, an increasing number of German companies have ramped up their hunt for Indian partners with the intention of providing future technologies in the manufacturing sector. The German companies are looking for local partners to help Indian businesses in advancing production in areas such as green energy, semiconductor, and pharmaceutical sectors, among others. "India is an important market; it's a growing market and has a huge amount of talent, and we are looking for talent because we are developing new technologies. We are the experts in the production field, and we are developing from the first sketch until the start of production. What we are doing here is we have invited our potential customers to this place (India)," said Rainer Wittich, CEO of EDAG Production Solutions GmbH & Co. KG. "Many customers are going more and more into this activity. They want to build up the production areas more in the field of new technologies like green energy, electrolysers, semiconductors, and medicine pharma, and there we can help with our expertise," Wittich added. The Indo-German Chamber of Commerce, in association with the Indian arm of Germany-based EDAG Group, organised an event to explore business partnerships with emerging local companies and talent to facilitate manufacturing. Talking to ANI during the event in New Delhi, Stefan Halusa, Director General at Indo-German Chamber of Commerce, said, "So we're talking about smart factories, we're talking about smart people, we're talking about smart product development, and all of that contributes to the smart industry and for that we are getting very good responses because it gives a glimpse of what the industry could be like in a couple of years." Answering the question of increased interest of German companies in India, Halusa said three factors are attracting German companies towards India, and they are local markets and economic growth, scale and capabilities of the economy. "The first (factor) is the local market. The Indian economy is growing and it will continue to grow over the next couple of years. So if you look at growth around the world, India is one of the first and most important countries to look at. The second is scale. You look at India for export as well, to invest here also for exporting your goods and services, and the third one is the capabilities," he added. Halusa further added that India has become a hub for research and development (R&D), which is another major factor towards the greater interest of German companies. "A lot of global capability centres are here, so it becomes a hub for research and development and engineering, and this combination is unique, and this is why German companies are looking for growth around the world. This is why they come to India," Halusa added. Going further, Halusa asserted that the German companies are waiting for the ongoing India-EU Free Trade Agreement (FTA) to be concluded, as Germany currently does not have an FTA with India. "Our companies, of course, tell us that they're waiting for the FTA to be concluded because that could really be a game changer for German and European companies. Because India has already concluded trade agreements with a whole number of countries but not with Europe. So there is a risk for us to fall behind, and this is why it's so important for the German and European industry that actually now comes to a conclusion," he added. The trade between two countries has reached USD 26.10 billion, with Indian exports at USD 9.83 billion in 2023-24. Indian imports from Germany reached USD 16.27 in FY24. Germany is currently the 10th largest trading partner in exports for India in April-October 2024. On the government front, leaders of both partner countries have underscored the crucial importance of a comprehensive Free Trade Agreement, Investment Protection Agreement and an Agreement on Geographical Indications between the European Union and India.
Times of Oman
4 hours ago
- Times of Oman
Global smartphone shipment forecast for 2025 revised downward over tariff uncertainty: Report
New Delhi: Market intelligence research firm Counterpoint Research has lowered global smartphone shipment forecast for 2025. It has revised down its 2025 global smartphone shipment growth forecast to 1.9 per cent year-on-year from 4.2 per cent, citing uncertainties surrounding US tariffs. However, most regions will still likely see growth, except North America and China, according to Counterpoint Research's latest Market Outlook Smartphone Shipment Forecast Report. Price increases from cost pass-throughs remain a key focal point, although the tariff situation remains fluid and unpredictable. Commenting on the revised forecast, Associate Director Liz Lee commented, "All eyes are on Apple and Samsung because of their exposure to the US market. Although tariffs have played a role in our forecast revisions, we are also factoring in weakened demand not just in North America but across Europe and parts of Asia." Lee added, "We still expect positive 2025 shipment growth for Apple driven by the iPhone 16 series' strong performance in Q1 2025." Moreover, premiumisation trends remain supportive across emerging markets like India, Southeast Asia and Gulf countries - these are long-term tailwinds for iPhones, according to Lee. Counterpoint Research's current forecasts assume a relatively stable tariff environment through 2025, although the escalating rhetoric and uncertainty around trade policy could significantly impact manufacturer's pricing strategies, supply chain planning, and, ultimately, consumer demand. Commenting on projections for global smartphone shipment growth in 2025, Associate Director Ethan Qi said, "The bright spot this year - again - will likely be Huawei. We are seeing an easing around sourcing bottlenecks for key components at least through the rest of the year, which should help Huawei grab substantial share in the mid-to-lower-end segments at home."
Times of Oman
9 hours ago
- Times of Oman
Critical mineral investments stalled by economic uncertainty despite strong demand outlook: IEA
New Delhi: Investment decisions in the global critical mineral sector face significant market and economic uncertainties, despite strong expectations for future demand growth, according to the International Energy Agency (IEA). In its Global Critical Minerals Outlook 2025, the IEA added that investment momentum in critical minerals development weakened in 2024, rising just 5 per cent compared to 14 per cent in 2023. Adjusted for cost inflation, real investment growth stood at only 2 per cent, reflecting growing economic and market uncertainties despite strong long-term demand expectations. According to IEA, exploration activity plateaued after consistent growth since 2020. While spending rose for lithium, uranium, and copper, it declined sharply for nickel, cobalt, and zinc. The funding in startups also slowed, the IEA report added. The low mineral prices failed to trigger new investments and affected projects led by new market entrants. The report added that diversification is the watchword for energy security, but the critical minerals world has moved in the opposite direction in recent years, particularly in refining and processing. Between 2020 and 2024, growth in refined material production was heavily concentrated among the leading suppliers. As a result, the geographic concentration of refining has increased across nearly all critical minerals, particularly for nickel and cobalt, the report added. The average market share of the top three refining nations of key energy minerals rose from around 82 per cent in 2020 to 86 per cent in 2024 as some 90 per cent of supply growth came from the top single supplier alone: Indonesia for nickel and China for cobalt, graphite and rare earths. The report further notes that, despite surging demand, significant supply expansions--primarily from China, Indonesia, and the Democratic Republic of the Congo--have driven prices down, particularly for battery metals. The IEA said that the swift increase in battery metal production highlighted the sector's ability to scale up new supply more quickly than for traditional metals like copper and zinc. Since 2020, supply growth for battery metals has been twice the rate seen in the late 2010s. As a result, following the sharp price surges of 2021 and 2022, prices for key energy minerals have continued to decline and have returned to pre-pandemic levels. Lithium prices, which had surged eightfold during 2021-22, fell by over 80 per cent since 2023. Graphite, cobalt, and nickel prices also dropped by 10 to 20 per cent in 2024. Critical minerals such as copper, lithium, nickel, cobalt and rare earth elements are essential components of many of today's rapidly growing energy technologies - from wind turbines and electricity networks to electric vehicles. Demand for these materials is growing quickly as energy transitions gather pace.
