German companies view India as manufacturing, R&D & innovation hub: Piyush Goyal
Commerce and Industry Minister Piyush Goyal has said that German companies are increasingly viewing India as a strategic destination for manufacturing, research and development (R&D), 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.
Following the completion of his two-day visit to Germany, the he said that he had engaged in several bilateral discussions with representatives from companies including Siemens Healthcare, Bertelsmann Investment, Volkswagen and 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.’
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. Currently, around 2,000 German companies are operating in 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.
