German cos seek expansion in Maha despite global uncertainty: Consul General

Pune: German consulate general Mumbai Christoph Hallier on Thursday said German companies operating in India are looking to expand investments and operations despite global geopolitical uncertainties and supply chain disruptions, underlining their long-term confidence in the Indian market.Speaking after chairing a meeting of around 40 CEOs and directors of German companies at the Mercedes-Benz Group plant in Chakan, Hallier said German businesses remained committed to strengthening their footprint in India. "We are strong and reliable partners. It is the foundation from which we want to continue to operate," Hallier told reporters."German companies have come to stay and most have further expansion plans. Overall, the outlook is bright. We are celebrating 75 years since the establishment of bilateral diplomatic ties, which we can see continuing to grow," he added.The meeting was attended by representatives of German companies operating in India along with Maharashtra principal secretary for industries, investment and services P Anbalagan and senior officials of MIDC.Director general of the Indo-German Chamber of Commerce (IGCC) Jan Noether said German investment in India stands at nearly USD 15.5 billion currently. "Maharashtra accounts for close to 50% of German investments in India. Tamil Nadu has around 15% and Karnataka approximately 13%," Noether said, adding that all major listed German companies have a presence in India.Nearly 1,800 German companies operate in India across sectors such as automotive, chemicals, engineering and plastics.Noether said the next phase of growth would come from medium-sized, family-owned German firms with annual turnovers of around one billion euros, many of which are increasingly looking to India for manufacturing and expansion opportunities.He also highlighted the rapid growth in bilateral trade between India and Germany over the past 15 years. "Trade between the two countries has grown from around 10 billion euros to over 47 billion euros. Germany is India's largest trading partner within the EU and also the ninth-largest investor in India," he said.On the proposed India-EU Free Trade Agreement, German officials said businesses are optimistic about its potential impact once implemented. Noether said the agreement is expected to particularly benefit medium-sized German companies and significantly boost trade and investments over the next five years."German companies also understand that long-term success in India requires a local manufacturing and operational footprint. They are looking for stable and predictable rules," he said. India's engineering talent, manufacturing capabilities and long-term partnership potential are the main drivers attracting German companies, he added."We are seeing growing interest from German businesses, reflected in the increasing number of high-level visits to India. Our Chamber is currently coordinating around 20 business delegations," Noether said.Anbalagan said the state government would facilitate faster expansion approvals for German companies. "We will expedite land allotments for them. We are also considering a tripartite mechanism involving IGCC to reduce approval timelines. Through the My3 single-window system, companies will be guided through the entire process," he said.
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