New Delhi, Oct 25: Prime Minister Narendra Modi invited German businesses to invest in India during the 18th Asia-Pacific Conference of German Business 2024, asserting that there is no better time or place for investment than India. He encouraged foreign investors to engage with India's growth narrative, participate in the "Make in India" initiative, and contribute to the vision of "Make for the World."
Highlighting Germany's commitment, Modi noted the significant increase in visas for skilled Indian workers, from 20,000 to 90,000 annually, which he believes will further bolster Germany’s economic growth.
"This is the ideal moment to become part of India's growth story as the country transforms into a global trade and manufacturing hub," he stated, underscoring India's robust foundations of democracy, demographic advantage, demand, and data.
The Prime Minister emphasized that India is making unprecedented investments in infrastructure—roads, railways, airports, and ports—and that the Indo-Pacific region is crucial for global future.
The conference marked the first of its kind in 12 years. Modi outlined the government’s vision for India to become a developed nation by 2047, mentioning the recent release of Germany's "Focus on India" document aimed at enhancing bilateral relations.
He highlighted India as an emerging hub for diversification and risk mitigation, presenting vast business opportunities for German firms. Modi asserted, "What could be a better place than India?"
He identified four key pillars of India’s growth: talent, technology, innovation, and infrastructure, driven by the aspirations of the Indian populace. The country is prioritizing skill development and democratizing technology, with significant initiatives in sectors like artificial intelligence, semiconductors, green hydrogen, and space technology, creating avenues for investment and collaboration.
Modi encouraged the visiting delegation to explore India’s rich culture, cuisine, and shopping opportunities. Currently, bilateral trade exceeds USD 30 billion, with hundreds of German companies operating in India and increasing Indian business presence in Germany.
