As remarked by IGC Chairman, Prof. Nils Steiglitz, in a recent interview with Tagesschau, the importance of Indo-German relations increases in line with India demonstrating its economic potential. This has been also evident through recent visits of Chancellor Olaf Scholz, German Finance Minister Christian Lindner and Foreign Minister Annalena Baerbock to India.
As we see this vital relationship growing, our recent Indo-German Business Talk, recorded on 29 March, investigated the history of the Indo-German economic landscape, its relevance and trends, as well as topics such as: traditional versus frugal innovation, Germany’s Mittelstand and the prospects of an EU-India Free Trade Agreement.
IGC Deputy Chairman and moderator, Dr Matthias Catón, was joined by Ambika Banotra, Chief Representative of the NRW Global Business GmbH; Manoj Barve, India Head of BVMW (German Federal Association of SMEs); Hermann Mühleck, Partner at EY Frankfurt; Dr Amit Telang, Consul General of India in Frankfurt and Prof. Dr. Rajnish Tiwari, Professor of Global Innovation at Hochschule Fresenius and Co-Founder of the Centre for Frugal Innovation, Hamburg University of Technology.
There is a realisation that we are interlinked, we are dependent on each other, we have to work together and everything else falls in place.
Dr Amit Telang, Consul General, Consulate of India in Frankfurt
Reactions to current geopolitical developments have posed questions regarding if countries are becoming more inward-facing on open to continue investing outside of their borders; this is especially true after restrictions arose as a result of the global pandemic. The Webinar addressed these thoughts and the requirements needed to adapt and succeed when making investments.
As we need again more growth, as we need to get out of these dependencies, I believe that we will also see more investments in India; but currently it is only the interest which is increasing.
Hermann Mühleck, Partner at EY Frankfurt
We live in a frugal A.G.E and A.G.E I define as an acroymn: Affordable, Green, Excellence. So we are looking at excellent solutions, we are looking at affordability, and we are looking at environmental sustainability. Combining those types of solutions, that offers a tremendous scope for Indian and for German companies.
Prof. Dr. Rajnish Tiwari, Co-Founder of the Centre for Frugal Innovation, Technical University of Hamburg
Earlier they [Mittelstand companies] came [to India] as Tier 2 suppliers, but now SMEs are coming to India on their own to either export manufacturer components, explore the growing Indian market or thirdly to get services support.
Manoj Barve, India Head – BVMW
What lies ahead of the Indo-German investment landscape? How can one successfully invest, or establish their product in either country? Do we need to bring markets closer to home? Watch the entire stream below.
Interest is developing, the need is there and there is a lot of competence and expertise there which can be shared and companies from Germany and India are ready to exchange, learn from each other and I think that calls for a bright future ahead.
Ambika Banotra, Chief Representative of the NRW Global Business GmbH
The Indo-German Business Talk is a monthly webinar, free to Panelists and audience members. Subscribe to our Mailing List to be informed of future discussions.
