Visit of German Chancellor to India: Expansion of economic cooperation

The re­cent his­to­ric vi­sit of Ger­man Chan­cellor Olaf Sc­holz to In­dia on Fe­bru­ary 25-26, 2023, lea­ding a team of se­nior of­fi­ci­als and a high powered de­le­ga­tion of Ger­man com­pa­nies, is ex­pec­ted to strengt­hen the eco­no­mic ties bet­ween the two coun­tries. It is the first stan­da­lone vi­sit by any Ger­man Chan­cellor to In­dia since the com­men­ce­ment of the In­ter-Go­vern­men­tal Con­sul­ta­tion me­cha­nism since 2011.

Sc­holz had mee­tings with the In­dian Prime Mi­nis­ter, Na­ren­dra Modi and the Pre­si­dent of In­dia, Drou­padi Murmu. He also held a busi­ness round­ta­ble with in­dus­try lea­ders from both coun­tries in an ef­fort to make it ea­sier for Ger­man com­pa­nies to ex­pand in­vest­ments in In­dia. Fur­ther­more, the Ger­man Chan­cellor wants to sup­port ef­forts to fi­na­lise the Free Trade Agree­ment bet­ween EU and In­dia.

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Sec­tors like Di­gi­tal Trans­for­ma­tion, Fin­Tech, IT and Te­lecom­mu­ni­ca­tion and Re­ne­wable En­er­gies were in fo­cus and Sc­holz said that the Go­vern­ment would like es­pe­cially to en­cou­rage IT pro­fes­sio­nals from In­dia to work in Ger­many. For this, he wants to fa­ci­li­tate the im­mi­gra­tion of In­dian ex­perts in Ger­many. In this area Eb­ner Stolz can as­sist with glo­bal mo­bi­lity so­lu­ti­ons.

Du­ring the vi­sit, In­dia and Ger­many si­gned five MoUs, pri­mary among those being the ‘In­dia-Ger­many Vi­sion to Enhance Coope­ra­tion in In­no­va­tion and Tech­no­logy’ and ‘Let­ter of In­tent bet­ween De­part­ment of Sci­ence & Tech­no­logy and Fraun­ho­fer In­sti­tute for So­lar En­ergy Sys­tems for Coope­ra­tion in Green Hy­dro­gen and Clean En­ergy Tech­no­lo­gies’ un­der go­vern­ment-go­vern­ment le­vel.

In the area of en­ergy, both si­des de­ci­ded to fur­ther the ties un­der the Indo-Ger­man Green and Sus­tai­nable De­ve­lop­ment Part­nership.

Se­cu­rity and de­fence coope­ra­tion was ano­ther area of in which both si­des agreed to work to­ge­ther.

The Chan­cellor said that there are 1,800 Ger­man com­pa­nies cur­rently ope­ra­ting in In­dia that have crea­ted “tens of thousands of jobs” and are among the lar­gest for­eign in­ves­tors. “The in­ten­tion is that this will con­ti­nue. These in­vest­ments will be ex­pan­ded and the num­ber of em­ployees will be mas­si­vely in­crea­sed. The va­rious agree­ments con­clu­ded by the eco­no­mic ope­ra­tors in my de­le­ga­tion are a sure sign of this” he ad­ded. En­te­ring new mar­kets is a spe­cial kind of chal­lenge for com­pa­nies, in which cul­tu­ral as­pects have to be ta­ken into ac­count in ad­di­tion to the eco­no­mic cha­rac­te­ristics. Eb­ner Stolz M&A In­dia Desk com­bi­nes all the re­qui­re­ments for suc­cess­ful mar­ket entry by Ger­man com­pa­nies in In­dia and In­dian com­pa­nies in Ger­many and gi­ves sup­port in the areas of au­diting, tax ad­vice, le­gal ad­vice and ma­nage­ment con­sul­ting.

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