Modi’s new mantra for blending India’s Dynamism with Germany’s Precision

New Delhi: Setting the tone for enhanced India-Germany business relations, Prime Minister Narendra Modi called for blending India’s dynamism and innovation with Germanys precision and engineering to take bilateral economic relations to new heights. Raising the bar for business ties, PM Modi and German Chancellor Olaf Scholz, who is in a two-day state visit, jointly inaugurated of  the 18th Asia-Pacific Conference of German Business (APK 2024) in New Delhi on October 25. The meeting, attended by over attracted 650 participants, focusing on enhancing trade, investment, and strategic cooperation between India, Germany, and the Indo-Pacific countries. In his keynote address at the conference, PM Modi exhorted Germany to join India’s growth story. “This is the right time to join India  growth story.” “When India dynamism meets Germany& precision, when Germany  engineering meets India  innovation, when Germany technology combines with India  talent, a brighter future is envisioned for the Indo-Pacific region and the world,” he said. In his keynote address, Prime Minister Narendra Modi highlighted the deepening partnership between India and Germany, particularly in economic and strategic domains. Referring to the significance of Chancellor Scholz’s visit, PM Modi stated, “Chancellor Scholz has come to India for the fourth time. His visits, first as Mayor and now three times as Chancellor, show his deep focus on India- Germany relations.” He also emphasized the ongoing naval exercises between the two countries and the upcoming seventh Inter-Governmental Consultations (IGC) as signs of strengthening ties. Alluding to the 25th anniversary of India-Germany Strategic Partnership, PM Modi highlighting a roadmap for the next 25 years. He praised Germany’s recent decision to increase the number of visas for skilled Indian workers from 20,000 to 90,000 annually, calling it a boost for both countries growth. In his remarks, Chancellor Scholz underscored Germany’s desire to expand defence cooperation with India. “Our overall message is clear, we need more cooperation, not less,” Scholz stated. He added that during the inter-governmental consultations, both sides would work towards integrating their militaries and enhancing defence ties. Germany, traditionally not a close defence partner with India, is now seeking to play a larger role in India’s diversification of arms sources, particularly as India seeks to reduce its reliance on Russian weaponry. One of the key developments in this area is Germany’s push for a $5 billion submarine deal, with Thyssenkrupp vying to build six conventional submarines for the Indian Navy. Germany is betting on India’s growing defence market as part of its strategy to reduce reliance on China. Scholz also highlighted the need for progress in the stalled free-trade pact negotiations between India and the European Union. “We need swift progress on these talks,” he urged. However, Indian Trade Minister Piyush Goyal  expressed concerns over the EU’s demands, particularly regarding access to India’s dairy sector. Goyal suggested a deal could be reached if the EU respected India  sensitivities, with German Economy Minister Robert Habeck echoing the need to prioritize industrial sectors over agriculture in the talks. PM Modi’s address touched on India’s role as a hub for global trade and manufacturing, stating that India’s trade with Germany has surpassed $30 billion. “India is becoming a major centre for diversification and de-risking,” he said, encouraging further investment under the Make in India, Make for the World initiative. PM Modi also emphasized the importance of the Indo-Pacific region for global stability, sustainability, and growth. “The world needs stability and sustainability, trust, and transparency,” he said, stressing the significance of the Indo-Pacific for future global growth. (Ananya Singh contributed inputs for this article)