Chancellor wants to recruit Indian talent in Germany
German Chancellor Olaf Scholz has assured his personal intervention in having the India-European Union Free Trade Agreement concluded at the earliest, acknowledging the importance to boost bilateral trade and investment.
Scholz also highlighted the need for investment protection pacts that will contribute significantly to expand India-German trade.
“We want to further deepen trade relations between the European Union and India and this is why we speak strongly for the free trade agreement. It is an important topic and I will get personally involved to ensure that this does not drag on,” the Chancellor said after holding wide-ranging talks with Prime Minister Narendra Modi in New Delhi on 25 Feb 2023.
“India has so much talent to offer and we want to benefit from that cooperation,” he said, assuring, “We want to recruit and attract that talent in Germany. The development of IT and software is booming in India.
“Germany wants deepening of trade relations between India and Europe.”
Prime Minister Modi has also underlined the importance of German investment in India.
Over 1,800 German companies are already working in India.
Germany is India’s largest trading partner in Europe.
“Along with being our largest trading partner in Europe, Germany is also an important source of investment in India,” said the Prime Minister after the meeting.
“Today, due to ‘Make in India’ and ‘Aatmanirbhar Bharat’ campaign, new opportunities are opening up in all sectors in India. The interest shown by Germany in these opportunities is very encouraging for us,” Modi said in a statement released after his talks with Scholz.
India and Germany are increasing mutual cooperation under the Triangular Development Cooperation for the development of third countries. In the last few years, the People-to-people relations between us have also strengthened. And this relationship will be further deepened with the Migration and Mobility Partnership Agreement signed in last December.
Modi visited Germany last year and announced Green and Sustainable Development Partnership. “Through this, we are expanding cooperation in the areas of Climate Action and Sustainable Development Goals. We have also decided to work together in areas like Renewable Energy, Green Hydrogen and bio-fuels.”
The Prime Minister elaborated, “Security and defense cooperation can become an important pillar of our strategic partnership. Together we will continue to make efforts to fully realize our untapped potential in this area.”
Scholz is due to visit India again for the G20 Summit to be held in September.
Scholz and Modi also interacted with top executives from Indian and German companies to discuss ways to deepen economic ties.
Scholz and his business delegation had a successful meeting with Indian business leaders while some good and important agreements were signed.
Said the Prime Minister, “We also got to hear useful thoughts and suggestions from industry leaders of both countries, on topics such as Digital Transformation, FinTech, IT, Telecom and Diversification of Supply Chains.” fiinews.com
