German Firms Eye India Base: CEOs plan major manufacturing, R&D expansion; tied to India-EU FTA

In a transformative move, German companies are recognizing India as a vital center for manufacturing and innovation. (Pic Credit PTI) German companies are increasingly looking at India as a strategic base for manufacturing, research and development (R&D), and innovation, in addition to viewing it as an important consumer market, commerce and industry minister Piyush Goyal has said.Speaking to the media after completing his two-day visit, Goyal said he held several bilateral meetings with representatives of major German companies, including Siemens healthcare, Bertelsmann investment, Volkswagen and Skoda.“The CEOs echoed one message — German companies no longer see India only as a market, but as their partner, as a base for manufacturing, for research and development, for innovation,” he said.Goyal said the combination of German precision and research capabilities with India's skilled workforce, talent and manufacturing potential could reshape global perceptions of the country. He also highlighted the opportunities arising from investments in India's growth story.Around 2,000 German companies currently operate in India. The minister's visit focused on exploring ways to expand tr...