Strengthening Indo-German business relations
To discuss current business topics and provide a platform for exchange among companies, an Indo-German Business Forum, organized by VDMA, the German Mechanical Engineering Industry Association, was held in New Delhi on 28th July.
The agenda of the summit was to bring together representatives of all segments and branches of the VDMA member companies and to discuss the latest developments in the Indian market including GST, localization and export positioning. The summit was attended by the top Management of the VDMA member companies.
In his statement as the chief guest, Dr. Jasper Wieck, Deputy Chief of Mission, highlighted the important role of VDMA for Indo-German business relations, as it represents key industries of Germany. He highlighted the importance of the friendship between India and Germany in a changing world.
"Two particularly important aspects of the relations between our two countries are trade and investment.” One way to facilitate trade and investment further would be a Free Trade Agreement. “Prime Minister Modi as well as Chancellor Angela Merkel reaffirmed their strong commitment to a Free Trade and Investment Agreement between the EU and India during the intergovernmental consultations", said Dr Wieck. "We are well advised to use this momentum, and it is important that the industry itself explain to governments both in India and in Europe how important such a Free Trade Agreement is for business." He also congratulated the VDMA on its 125th anniversary. Enlarge image Rajesh Nath, Managing Director, VDMA India Office (© German Embassy New Delhi)
Rajesh Nath, Managing Director, VDMA India Office in his welcome address referred to recent reforms such as the GST and also highlighted the developments of the Indo-German trade. "The VDMA business barometer clearly shows that a majority of our member companies are optimistic about the economic development in India and plan to expand activities in one way or the other." The topics of the presentations and panel discussions included the 'Impact of GST on German Manufacturing Industry', 'Localization and Export Positioning', and 'Challenges in Manufacturing Industry in India'.
The panel discussion that followed focused on technical questions related to GST, but also underlined the necessity for skill development and vocational training. Enlarge image
Through the business ventures of its members, VDMA is actively engaged in priority initiatives of the current Government of India, such as 'Make in India', 'Smart Cities' and 'Skill India'.
VDMA is Europe's largest industrial network and, with more than 3,200 member companies, represents around one million jobs in Germany. This year marks the 125th anniversary of the VDMA.