Stuttgart Germany will be a reliable partner in India’s efforts to become a developed nation and the two countries should join hands to forge a prosperous future for the world, Prime Minister Narendra Modi said on Friday, outlining his vision for the two sides to work together in areas ranging from digitalisation to manufacturing.
Europe is an important strategic region for India because of geo-political relations and trade and investment, and Germany is “one of our most important partners” within this region, Modi said while delivering a virtual address to the News9 Global Summit in the capital of the southwestern German state of Baden-Württemberg.
Addressing a gathering that included the political leadership of Baden-Württemberg, representatives of leading German businesses and Union minister of communications Jyotiraditya Scindia, Modi pointed to the age-old ties between the two countries that had been strengthened in recent years through trade and investment and a growing Indian diaspora.
“A strong foundation has been created in India on which the structure of Viksit Bharat (developed India) will be built. And Germany will be a reliable partner in this,” Modi said, speaking in Hindi.
“As an ancient civilisation of the world, we have always welcomed people from around the world and made them a part of our country. I invite you to become an associate for the creation of a prosperous future for the world.”
Germany’s prowess in manufacturing and engineering are of great importance as India moves towards becoming a big manufacturing hub of the world, and India provides manufacturers joining the “Make in India” initiative production-linked incentives, he said while pitching the country as an investment destination.
Read more: ‘Democracy in our DNA, never moved with expansionist vision’: PM Modi in Guyana
Noting that more than 1,800 German companies are operating in India and have invested $15 billion in the past few years and bilateral trade is currently worth $34 billion, Modi said: “Today, many German companies are active in India. I invite these companies to increase their investments. There are many such German companies that have not made a base in India. I invite them too to come to India.”
In this context, Modi highlighted the factors that make India an attractive investment destination, including his government’s mantra of “reform, perform transform”. The government formulated new policies in every sector, it prepared for fast growth in the 21st century by ending red tape and improving ease of doing business, it ended more than 30,000 compliances, strengthened banks to ensure timely and affordable access to capital, and changed and simplified the complicated tax system, he said.
“A progressive and stable policy-making environment was made in the country so that business can move forward,” he added.
Modi recalled the Asia-Pacific Conference of German Businesses (APK 2024) that was held in Delhi last month after a gap of 12 years and reiterated that this is the right time for Germany to join India’s progress. “India’s dynamism meeting Germany’s precision,
Germany’s engineering joining with India’s innovation – this should be the effort of all of us,” he said.
With the India-German strategic partnership completing 25 years in 2024, Modi also pointed to the important contributions made by the German government’s recent “Focus on India” document and a new India-specific skilled labour strategy.
“I have faith that bilateral trade will increase even more in the coming years…India today is the world’s fastest growing large economy. Every country wants to forge a partnership with India for its progress. Germany’s ‘Focus on India’ document also is a big example of this. This document shows how today, the whole world is acknowledging India’s strategic importance,” he said.
Modi also highlighted other aspects of the age-old relations between the two sides, such as the role played by two German merchants in the printing of the first Tamil and Telugu books in a European country.
About 300,000 Indians currently live in Germany and 50,000 Indian students are enrolled in German universities, making them the largest cohort among foreign students, Modi said while highlighting the people-to-people connections between the two sides.
Modi lauded TV9 Network for organising the global summit along with VfB Stuttgart and Baden-Württemberg and the launch of the News9 English channel on Friday and said: “The theme for this summit is ‘India-Germany: A roadmap for sustainable growth’ and this is a sign of the responsible partnership of the two countries.”
He added, “I am happy that a media outlet from India is making an effort to connect with Germany and the German in today’s information era. Through this, the Indian people will have a platform to understand Germany and its people.”
Speaking on the theme “India: The biggest turnaround story” before the address by Modi, Scindia said that under the prime minister’s leadership over the last decade has resulted in a country “that is far more confident, a country that is far more consequential as an economy, and a country that is marching down the path of progress at lightspeed”.
Scindia added, “Today, there is not a single country across this world where Indian products or Indian brands are not known, where Indian products and Indian brands have etched their quality and their capability. Indian supply chains today extend to every continent across the globe and India today has become the go-to destination for every multinational, every rising company and every startup.”
