German firms eye India for future tech collaborations in 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. (ANI)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
3 minutes ago
- Hindustan Times
Landmark Group to invest ₹400 crore in low-density luxury project on Gurugram's Dwarka Expressway
Gurugram-based Landmark Group will invest nearly ₹400 crore in its low-density luxury housing project 'Landmark SKYVUE' at Sector 103 on Dwarka Expressway, the company said on August 20. Landmark's Group chairman Sandeep Chillar (second from left) said that the new project, located in Gurugram's Dwarka Expressway, is spread across 4 acres and will feature just 240 apartments. Spread across 4 acres, the project will feature just 240 apartments and has a revenue potential of around ₹1,200 crore. Scheduled for delivery in four years, SKYVUE has been launched at ₹17,500 per sq ft, with apartments priced between ₹4.99 crore and ₹6.78 crore, the company said. 'We will invest ₹400 crore in the construction of our new project 'Landmark SKYVUE',' Landmark Group chairman Sandeep Chillar told reporters. 'It is a low-density development with 60 apartments per acre compared to the conventional 90–100.' He said the company has owned the land parcel since 2009 and has already cleared all approval charges with the government. He said the demand in the Gurugram market remains strong, driven by new infrastructure developments, including the opening of the Dwarka Expressway. The project forms part of an 11-acre land parcel, with Phase I delivered in 2013 and Phase III planned for FY2026. Phase II, spread across 4 acres, will offer 240 three-side-open residences in 3BHK + utility and 4.5BHK + utility formats. The towers will rise 40 floors above a three-level podium that will house retail, a 1-lakh sq ft club, and wellness facilities. The project will also feature a rooftop observatory. Also Read: Gurugram's affordable housing projects face residents' ire as missing 24-metre road becomes symbol of deeper crisis 'Our aim is to craft a community that combines design but doesn't compromise on comfort. We aim to put special emphasis on the modern-day needs of Indian families, including digitally forward amenity zones, skypad pickleball court, Japanese restaurant 'Sora', and a wellness-oriented club called 'Skydome' offering a meditation zone, plunge pool, and USFDA, CE, and ISO approved cryotherapy,' he said. Chillar said the company would fund the construction cost with the help of internal accruals, bank loans and advances from customers against sales. Also Read: Is Gurugram's luxury real estate boom sustainable? Experts weigh in on price and demand trends The company has so far delivered 15 housing and five commercial projects, mostly in Delhi-NCR. It has other projects in its pipeline for FY2025-26, including the largest single tower commercial project measuring 2.2 million sq. ft. on Golf Course Extension Road, a high street retail project, and a large mixed-use project, both situated on Dwarka Expressway.
The Hindu
5 minutes ago
- The Hindu
Aadhaar to be used for Starlink KYC, says UIDAI
SpaceX's satellite internet service Starlink will use Aadhaar to validate Indian users under Know-Your-Customer (KYC) rules, the Unique Identification Authority of India (UIDAI) announced on Wednesday. The Elon Musk-owned service has already obtained orbital slot appointments and a Global Mobile Personal Communications by Satellite (GMPCS) authorisation from the Department of Telecommunications (DoT), but is yet to roll out. Parnil Urdhwareshe, Director at Starlink India, was with UIDAI CEO Bhuwnesh Kumar, where Starlink officially registered as a Sub-Authentication User Agency and Sub-eKYC user agency, allowing it to accept Aadhaar details from customers for the purpose of authenticating them. 'The use of Aadhaar authentication by a global satellite internet provider demonstrates the scalability and reliability of India's digital infrastructure,' UIDAI said in a statement. 'Aadhaar e-KYC will facilitate the onboarding of users seamlessly, ensuring compliance with regulatory requirements while delivering high-speed internet to households, businesses, and institutions.' Starlink has not started operations, even as its services have become available in recent weeks in Nepal, Bangladesh and Sri Lanka. The DoT is yet to administratively allot spectrum to the firm, and it is also likely working on compliance with security conditions imposed on GMPCS authorisation holders shortly before it received approval.
The Hindu
5 minutes ago
- The Hindu
In Moscow, Jaishankar raises challenge posed by tariff to India-Russia trade, calls for early conclusion of India-Eurasian Economic Union FTA
In the backdrop of U.S. President Donald Trump's imposition of penalty tariff on India, External Affairs Minister S. Jaishankar on Wednesday (August 20, 2025) in Moscow raised the challenge posed by 'tariff and non-tariff trade barriers' before Russia-India trade and called for 'early conclusion' of a Free Trade Agreement among India and the countries of the Eurasian region. Mr. Jaishankar made the remarks during the 26th Session of the India-Russia Inter-Government Commission for Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC) where the Russian side was being led by First Deputy Prime Minister of Russia Denis Manturov. Delivering his opening remarks Mr. Jaishankar said, 'tariff and non-tariff trade barriers, removing bottlenecks in logistics, promoting connectivity through the International North-South Transport Corridor, the Northern Sea Route and the Chennai-Vladivostok Corridor, effecting payment mechanisms smoothly' are the main issues before the IRIGC-TEC. He further said that Wednesday's meeting in Moscow also finalized the terms of reference of the India-Eurasian Economic Union Free Trade Agreement of which Russia has been a leading proponent as it aims at removing obstacles for overland trade among Russia, China, India and the Central Asian countries. '..we are all acutely aware that we are meeting in the backdrop of a complex geopolitical situation. Our leaders remain closely and regularly engaged,' said Mr Jaishankar indirectly referring to the trade-related anxieties in India-U.S. relation. He also raised the issue of trade imbalance in India-Russia trade that has expanded in the past few years as India's trade with Russia grew from $13 billion in 2021 to $68 billion in 2024-'25. India-Russia trade has risen sharply after Russia was hit with Western sanctions following the crisis in Ukraine. Bulk of this trade is in hydrocarbon that Russia supplies to India. As a result the earlier trade imbalance of $ 6.6 billion has risen to $58.9 billion. 'So, we need to address that urgently,' said Mr Jaishankar in his remarks.
