INVITING German businesses to invest in the country, Prime Minister Narendra Modi on Friday said there is no better place for investment than India and this is the right time to join the country’s growth story. Addressing the 18th Asia-Pacific Conference of German Business 2024 here, the Prime Minister emphasised that the time was ‘right’ for foreign investors to participate in India’s growth story, join ‘make in India’ initiative and ‘make for the world’. He also said the confidence that Germany has expressed in India’s skilled manpower is amazing as the European nation has decided to increase visas for the skilled Indian workforce from 20,000 to 90,000 per year and this will give a further push to the economic growth of Germany. “This is the right time to join India’s growth story... India becoming a global trade and manufacturing hub,” Modi said, adding, today India stands on strong pillars of democracy, demography, demand and data. He further said that India is doing record investments in roads, railways, airports and ports and the Indo-Pacific region is very important for the future of the world. The conference was held on Friday after a gap of 12 years. Modi said that the Government has prepared a roadmap for making India a developed nation by 2047 and in this important time, the German Cabinet has released a “Focus on India” document to further strengthen ties between the two countries.

 

H\e added that India is becoming a major hub for diversification, de-risking, trade and manufacturing, and it provides huge business opportunities for German firms. For investors and businesses, he said, “what could be a better place than India?” He added that the four key pillars of India’s growth are talent, technology, innovation, and infrastructure, and to drive all this, “we have the power of aspirational India (AI). India is focussing on skills and democratisation of technology and its important missions related to sectors such as artificial intelligence, semiconductor, green hydrogen, and space technology too provide opportunities for investments and collaborations, the Prime Minister said. He added that the visiting delegation should enjoy India’s culture, cuisines and shopping also. The bilateral trade is over USD 30 billion at present. Hundreds of German companies are operating in India while Indian firms are also increasing their presence in Germany.

 

 

PRIME Minister Narendra Modi on Friday said the ongoing conflicts in Ukraine and West Asia are a matter of concern and India is ready to make every possible contribution for restoration of peace. His remarks came after talks with German Chancellor Olaf Scholz, who called upon India to contribute to find a political solution to the conflict in Ukraine that has been raging for a long time. “The ongoing conflicts in Ukraine and West Asia are a matter of concern for both nations. India has always been of the view that war cannot be a solution to problems. India is ready to make every possible contribution for the restoration of peace,” Modi said after the 7th Inter-Governmental Consultations with the visiting German Chancellor. Modi said he and Olaf agreed that the global forums established in the 20th century were inadequate to address the challenges of the 21st century. “There is a need for reforms in multilateral institutions, including the UN Security Council,” the prime minister said. Earlier, initiating the IGC, the strategic partnership between India and Germany has emerged as a strong anchor at a time when the world is faced with tensions, conflicts and uncertainty.

 

Modi said India-Germany ties were a transformational partnership of two capable and strong democracies and not a transactional relationship. “The world is passing through times of tensions, conflicts and uncertainty. In the Indo-Pacific region, there are serious concerns about the rule of law and freedom of navigation. In times like this, the strategic partnership between India and Germany has emerged as a strong anchor,” he said. The Prime Minister recalled that this was Scholz’s third visit to India and marked the “triple celebration” of the friendship between India and Germany. “In the last IGC in Berlin in 2022, we took important decisions for our bilateral cooperation. In two years, there has been encouraging progress in various sectors of our strategic relations.

 

There has been increasing cooperation in areas such as defence, technology, energy, green and sustainable development that have become symbols of mutual trust,” he said. Modi also welcomed the ‘Focus on India’ strategy announced by Germany. “I am delighted that to expand and elevate our partnership, we are taking several new and important initiatives and moving from the ‘Whole of Government’ to the Whole of Nation approach,” he said. The IGC framework was launched in 2011 and allows for a comprehensive review of cooperation and identification of new areas of engagement between the two countries across various sectors.