The German Ambassador Dr Philipp Ackermann has said that Delhi will host the next round of India-German Intergovernmental Consultations (IGC), which is led by the German Chancellor and Indian prime minister along with respective ministers from both sides.
Speaking to our diplomatic correspondent Sidhant Sibal, he said, “That’s a bi-annual exercise. The last conversations were in 2022 in Berlin and now, I think, in the second half of October, more or less, we hope. Dates are not fixed yet.”
The ambassador lauded the Indian business climate and explained, ” You see almost 80% of German companies in India want to put more money into India to expand business here..There is a great respect for the solid Indian growth rates, which is, you know, basically the basis for a growing business”.
According to a survey by KPMG in Germany and the Indo-German Chamber of Commerce Nearly six in ten German companies are planning to increase their investments in India during the current financial year.
These were findings of the “German Indian Business Outlook 2024” which pointed to low labour costs, political stability and qualified specialists as the key region that makes India attractive to German Businesses.
Sidhant Sibal: My first question to you is we have seen this report, What does this report talk about regarding the business climate here in India and the opportunities for the German businesses?
Dr Philipp Ackermann: So, you have seen the report, the survey, it is the 3rd survey in a row and what we see is an enormous increase in trust and, you know, belief in the Indian business environment. We see a tremendous idea and, an enormous willingness to invest in India, to reinvest in India. You see, almost 80% of German companies in India want to put more money into India to expand business here, and I think that shows three things. First of all, there is a huge potential in the Indian market, which is seen by the term business. There is a great respect for the solid Indian growth rates, which is, you know, basically the basis for a growing business and third, not least, the stability of the environment. We have seen the elections, we have seen the smooth, new government and I think people are very happy about how India has its anchor of stability in the region, giving them an opportunity to expand their business. So that’s very positive and I’m very happy that we are on the best ever level between India and Germany when it comes to economic relations and others.
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