ZF Doubles Down on India with Renewed Vigor
ZF ($ 219 Mn – 2022-2026) - Aims at localization of advanced automotive technologies and building digital platforms like Mobility Marketplace and Mobility Cloud Platform.
Post the economic reforms and liberalization of the Indian market in 1991, Germany has gone on to become one of India’s most significant trade and investment partners.
Cumulatively, Germany has invested over $13.6 bn in India between 2000 and 2022. Key areas of investments have been transportation, electrical equipment, metallurgical industries, services sector (particularly insurance), chemicals, construction activity, trading and automobiles. Over 1,600 Indo-German collaborations and 600 joint ventures are represented in the Indian marketplace.
Prime Minister visited Berlin on 2 May 2022. A total of 14 agreements were signed in diverse fields such as green partnership, development cooperation, renewable energy, migration and mobility, economic cooperation and agriculture. Prime Minister and Chancellor also signed a Joint Declaration of Intent on a Green and Sustainable Development Partnership.
Germany and India co-operate on the issue of UNSC expansion within the framework of G-4 and consult each other in G-20 on global issues such as climate change and sustainable development. The last meeting of the G4 was held on the side-lines of the 77th UNGA in September 2022.
In April 2021, the German Federal Cabinet approved the signing of the amended framework agreement of the International Solar Alliance (ISA), and thereby confirming Germany's accession to the ISA.
On 7th March 2021, India and Germany marked the 70th anniversary of the establishment of diplomatic relations.
India and Germany agree to work together with focus on Artificial Intelligence (AI) Start-Ups as well as 'AI' research and its application in Sustainability and Health care.
Several institutionalized arrangements exist between India and Germany on bilateral and global issues, including Foreign Office Consultations, High Technology Partnership Group, High Defence Committee, Indo-German Energy Forum, Indo-German Environment Forum and Joint Working Groups in sectors such as skill development, automotive, agriculture, water and waste management.
India and Germany signed the Strategic Partnership in 2001, which has been further strengthened by the Intergovernmental Consultations (IGC) between the two Governments. The IGC allows for a comprehensive review of cooperation and a platform to identify fresh areas of engagement.
Germany is India’s largest trading partner in Europe. During 2022-23 (until August 2022), bilateral trade was $ 10.81 bn, an increase of 9.32% over the corresponding period in FY 2021-22.
Germany is the 9th largest investor in India, with cumulative FDI inflows of $14.13 Bn during April 2000- March 2023.
Some major Indian exports include machinery and mechanical appliances, textiles, and chemicals. Some major Indian imports include optical and medical instruments, machinery and mechanical appliances, vehicles, and accessories.
As per Indo-German Chamber of Commerce, there are more than 1,700 German companies in India. German investments in India have been mainly in sectors of transportation, electrical equipment, metallurgical industries, services sector (particularly insurance), chemicals, construction activity, trading and automobiles.
A Fast Track Mechanism has been set up for German companies in India under the DPIIT to expedite resolution of issues. The Make in India Mittelstand (MIIM) Programme was launched in 2015 to facilitate the entry of German MSMEs. As of November 2022, 152 companies are being facilitated through this programme with a declared investment of nearly Euro 1.47 bn.
Cultural and academic exchanges form an integral part of Indo-German relations. German scholarly interest played a key role in introducing Indian art, culture, literature and philosophy to the wider world. Max Mueller was the first scholar of Indo-European languages who translated and published Upanishads and Rigveda.
German interest in the Indian philosophy and languages resulted in the first Chair of Indology at the University of Bonn in 1818. The Government of India has funded several rotating chairs of Indian studies in German Universities.
The increased interest in Indian films manifests in the exclusive Indian Film Festival, Stuttgart and Indo-German Film Week in Berlin which witness a huge turnout regularly.
Ayurveda, the Indian traditional system of medicine, is being acknowledged as a complementary system of medicine in Germany. Several research institutions in Germany have been contributing to this development through international exchanges and research projects.
The International Day of Yoga 2022 was organized in Erfurt, capital city of the federal state of Thuringia, with an objective to raise awareness of Yoga and its benefits among school children.
There are approximately 34,134 (2022) Indian students who are studying in Germany, a number which is rising each year. Around 800 German students are studying or doing internships in India.
There are around 2.03 lakh (December 2021) Indian passport holders and Indian-origin people (about 1.60 lakh NRIs/Indian Passport holders and around 43,000 PIOs) in Germany.
ZF ($ 219 Mn – 2022-2026) - Aims at localization of advanced automotive technologies and building digital platforms like Mobility Marketplace and Mobility Cloud Platform.
The Department of Consumer Affairs and the German Federal Ministry for Economic Affairs and Climate Action signed the new Work Plan for 2023 during the 9th Annual Meeting of the Indo-German Working Group on Quality Infrastructure.
Kolkata-based e-mobility start-up Motovolt has made an initial investment of a million euro (INR 9 crore) in German EV start-up, eROCKIT for an undisclosed stake.
Bosch ($ 243 Mn 2022-2026) - Aims at localization of advanced automotive technologies and building digital platforms like Mobility Marketplace and Mobility Cloud Platform
German auto-maker Webasto has invested INR 250 cores to set up a sunroofs manufacturing facility in Pune.
Birkenstock, the global German lifestyle brand with a heritage in iconic footwear, has launched its e-commerce ‘1774’ in India.
Bosch Automotive Aftermarket inaugurated one of the largest Bosch Car Service (BCS) facilities in Panchkula, Haryana, to expand its workshop chain network. There are about 250 Bosch multi-brand car service points in India.
German agrochemicals major Bayer has inaugurated a new Ethiprole manufacturing plant at its Vapi site in Gujarat, with an investment of INR 200 crore (24 million euros). The new facility will cater to domestic demand as well as exports across the Asia Pacific and Latin America.
German footwear major Von Wellx inaugurated two footwear units in Uttar Pradesh, aiming to produce 5 million pairs of shoes annually. The company will invest around INR 300 crore in phases in three projects in the state, generating around 10,000 jobs.
German medical tech company Siemens Healthineers is set to make its single-largest investment in India of INR 1,300 crore (EUR 160 million) over the next 5 years, as it sets up a new innovation hub in Bengaluru.
Bosch Home Appliances plans to invest over $ 112 mn in the Indian market in the next 3-4 years through expanding their product portfolio. The Company aims to focus on personalized solutions, brand building, strengthening technology centre, including a transformation from conventional to digital offerings.
German consumer electronics maker Blaupunkt plans to invest $ 300 mn in the Indian television industry, along with its Indian partner Trigur Electronics, on marketing and at Trigur's plant in Sonepat, Haryana.
German steel major ThyssenKrupp will produce cold-rolled grain oriented (CRGO) electrical steel for the first time in India. The Company is the sole manufacturer of CRGO in the Country presently.
Deutsche Bank, Germany’s largest lender by assets, has acquired Mumbai-based fintech startup Quantiguous Solutions that will enable it to provide an open banking platform to its corporate clients across the world. This is the first acquisition for DB in India.
Siemens has launched its digitization platform 'Mindsphere' in India, along with four application centres in Pune, Noida and Gurugram (two). India will be among the top five global markets for Siemens AG in the coming years, as the German conglomerate company is preparing to tap a $ 1.5 tn opportunity in India’s manufacturing sector.
Germany-based equipment manufacturer Liebherr has set up their first refrigerator manufacturing unit in Aurangabad, Maharashtra with an investment of $ 73 mn to manufacture refrigerators locally.
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