Germans warm up to 'Make in India' mission

Germans warmed up to Prime Minister Narendra Modi's "Make in India" mission at a seminar organised by the Indian consulate here in association with the Federation of Indian Chambers of Commerce and Industry (FICCI).

The seminar, "Doing business with India: a CEO Perspective", held Nov 13, commenced with an opening speech by Indian Consul General Raveesh Kumar, who briefed the audience of largely German delegates about the investment opportunities available in India post the initiatives taken by the new Narendra Modi government.

Sidharth Birla, president of FICCI, in his keynote address, talked about the opportunities available for German firms from the Indian industries' perspective.

The programme was followed by presentations by Klaus Hilleke, chief executive officer (CEO) of Simon Kucher & Partner on "Strategic lesson from Germany's hidden champions" and Talleen Kumar, CEO and managing director of Delhi Mumbai Industrial Corridor Project (DMICDC) who gave an overview of the huge opportunities available for German investors in industrial corridors in India.

The meeting was attended by top managerial representatives of around 60 German companies.

During their interaction with the Indian business delegation, German firms showed enthusiasm towards policy initiatives taken by the new government for economic reforms, namely, in the areas of liberalisation of labour laws, land acquisition, and taxation.

The business sentiment of the German investors seemed positive towards these policy initiatives and German firms are showing keenness to revisit their future investment plans in India. The German electronic industry is planning to take a delegation to India early next year to work out details of future investment by German electronics companies in India.

"Make in India" is an international marketing campaign slogan launched by Prime Minister Modi Sep 25 to attract businesses from all across the world to invest and manufacture in India.