German firms see India as manufacturing, R&D hub, not just market: Goyal
Reported by Business Standard, not nibnow. We are not the publisher of this story, only the source is.
German companies are planning to expand manufacturing, R&D and innovation activities in India, which could create jobs and boost technology transfer in the country.
German companies are increasingly viewing India as a strategic hub for manufacturing, research and development, and innovation alongside its role as a key consumer market, Commerce and Industry Minister Piyush Goyal has said. Addressing the media after concluding his two-day visit here, the minister said he held a series of bilateral meetings with representatives from companies including Siemens Healthcare, Bertelsmann Investment, Volkswagen and Skoda. "The CEOs echoed one message - German compa
India is a large consumer market and increasingly attractive for foreign firms seeking lower-cost production and a talent pool for research, while German firms such as Siemens, Volkswagen and others are major exporters and technology investors worldwide.
- •Announcements of specific investment projects or joint ventures between German firms and Indian partners
- •Follow‑up policy initiatives or incentives announced by the Indian government to support foreign manufacturing and R&D
- •Potential impact on trade balances and employment figures as projects move from planning to implementation