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Germany is betting big on India.

Mainly because it wants to reduce its dependence on China.

German Chancellor Olaf Scholzwill be visiting New Delhi this week.

He will lead a high-level delegation that includes most of his cabinet including the foreign and defence ministers.

Scholz will meet Prime Minister Narendra Modi on Friday October 25h, before presiding over the seventh round of Indian-German government consultations.

And on top of the german chancellor’s agenda will be getting greater access to the vast Indian market.

Scholz, who will take with him most of his cabinet including the foreign and defence ministers, will meet Indian Prime Minister Narendra Modi on Friday before presiding over the seventh round of Indian-German government consultations.

Germany’s Economy Minister Robert Habeck will arrive a day earlier to open the biennial Asia-Pacific Conference of German Business.

The bilateral visit comes at a crucial time for Germany and its economy

Germany’s economy is heavily export-oriented economy... and its going through a second consecutive year of contraction.

There are concerns and worries over a trade dispute between the European Union and China.

Something that could have serious consequences for German companies.

Not surprisingly, India becomes a preferred choice to counter the over-dependence on China.

German direct investments in India were around 25 billion euros or $27 billion in 2022, about 20% of the volume invested in China. And experts say there’s potential for that number to go up to 40%.

a recent survey reveals that nearly 60 percent of German businesses plan to increase investments in India in FY 2024-25, with 78 percent intending to boost investments over the next five years.

according to a study by consultancy KPMG and the German Chambers of Commerce Abroad (AHK), German firms cite bureaucracy, corruption and India's tax system as investment hurdles

Despite those hurdles, German companies across the board, from carmakers to logistics firms, are still quite optimistic about India as a destination. They’re looking to tap into the skilled young workforce, even as India becomes a cheaper cost base for them. India’s cosistent economic growth at around 7% is also a crucial factor influencing their positivity.

German logistics giant DHL plans to invest half a billion euros in India by 2026, tapping into a fast-growing e-commerce market.

Iconic german carmaker Volkswagen which has been hit by falling sales in China and high production costs at home, is looking to join hands with companies in India for joint production. It has two factories already and signed a supply deal with local partner Mahindra early this year.

India and Germany have a strategic partnership, with both nations maintaining close bilateral and trade ties since 2001. And it looks like that partnership is set to go to the next level now


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