Piyush Goyal invites German companies to diversify investments in India

Berlin [Germany], October 23 (ANI): Commerce and Industry Minister Piyush Goyal on Thursday met German Federal Minister for Economic Affairs and Energy Katherina Reiche in Berlin, during which he highlighted India's large talent pool and its push for Ease of Doing Business.

Piyush Goyal invited German businesses to diversify their investments in India.

"I highlighted how India's large talent pool, combined with our push for Ease of Doing Business, offers attractive prospects for German companies to diversify investments and strengthen supply chain resilience," the minister wrote on X.

"Our discussions focused on deepening Indo-German ties in trade and investment, joint industrial and technological partnerships in green energy, new and emerging technologies, as well as defence," Piyush Goyal wrote on X.

The talks also covered Germany's commitment to finalising the India-EU FTA.

Separately, during his ongoing visit to Germany, Piyush Goyal participated in a Round Table discussion with CEOs of German Mittelstand (SME) companies and Indian businesses.

The Indian minister highlighted the key opportunities India offers in innovation and sustainable manufacturing, and discussed ways for Indian and German companies to collaborate, strengthen trade and investment ties, and build strong industrial partnerships for mutual growth.

Goyal's visit to Germany marks a key milestone in enhancing India's engagement with Germany and holds particular significance as the year 2025 marks the 25th anniversary of the India-Germany Strategic Partnership, highlighting the depth, resilience, and long-standing strength of bilateral ties.

Minister Goyal's meetings are designed to facilitate high-impact interactions with senior government officials, industry leaders, and business associations in both countries, the commerce ministry had said in a statement on Wednesday.

The Minister will also hold a high-level meeting with Xavier Bettel, Deputy Prime Minister and Minister of Foreign Affairs and Trade of Luxembourg, to discuss the strengthening of bilateral trade relations, Luxembourg's forthcoming State Visit to India, current regional developments, and key international issues.

A key component of the visit will include a series of one-on-one meetings with CEOs of leading German companies such as Schaeffler Group, Renk Vehicle Mobility Solutions, Herrenknecht AG, Infineon Technologies AG, Enertrag SE, and Mercedes-Benz Group AG, the ministry had said in the statement. (ANI)

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