Delegation from the Federal State of Hessen visits Mumbai, November 5-7, 2015

(L-R) Dr. Stephan Bredt, Minister Al-Wazir with Minister of Industries, Government of Maharashtra, Subhash Desai and Consul General Michael Siebert Enlarge image (© Ministry of Industry, Government of Maharashtra)

A 43-member strong delegation from the Ministry of Economics, Energy, Transport and Regional Development from the German Federal State of Hessen led by Deputy Minister-President (Deputy Chief Minister) Tarek Al-Wazir visited Mumbai from November 5-7, 2015. The delegation had a robust 2-day programme comprising of meetings with several high ranking officials from the Government of Maharashtra as well as financial institutions such as the RBI and SEBI amongst others. The main purpose of the visit in Mumbai was the potential cooperation between Frankfurt/Rhein Main as the financial center of Germany and the Euro zone on the one hand and Mumbai, in its capacity as the financial capital of India, on the other.

The delegation began its string of meetings with the Hessen-Mumbai Finance and Business Forum hosted by the Indo-German Chamber of Commerce, where the delegation members had an opportunity to meet with representatives from the Indo-German finance and economic sectors. This was followed by a meeting with the Minister of Industries, Government of Maharashtra, Subhash Desai, where the delegation exchanged ideas about the possible business and investment locations in the states of Maharashtra and Hessen. Minister Al-Wazir and Consul General Siebert then hosted a joint reception, where again members of the business and finance community had an opportunity to mingle with the members of the delegation. 

The highlight of the evening was the meeting of the delegation with the Chief Minister of Maharashtra, Devendra Fadnavis. The Minister and his delegation members exchanged information about the current political and economic scenario in Maharashtra as well as the various government initiatives such as Make in India, Skill India and Digital India.

On the second day, the delegation met with the Deputy Governor of the Reserve Bank of India, H. R. Khan, where they held talks about the financial markets in India and the prospects of special financial zones in India. This was followed by a visit to Godrej & Boyce where the delegation got an opportunity to tour the plant.

The delegation concluded its Mumbai visit with a visit to the Securities and Exchange Board of India (SEBI), where the delegation members held talks about the capital markets, payment, settlement and correspondent banking in India.

Delegation from the Federal State of Hessen visits Mumbai