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The India-Germany CEOs Forum convened in the capital on 25 October, bringing together top business leaders and policymakers from both nations to deepen bilateral economic ties.
Prime Minister Narendra Modi and German Chancellor Olaf Scholz attended the high-level meeting, which focused on key themes of innovation, skill development, and resilient supply chains. Held alongside the Asia Pacific Conference 2024, the forum served as a critical platform for fostering collaboration between Indian and German businesses across sectors such as IT, automotive, defense and aerospace, and renewable energy.
Key Themes Addressed
- Innovation and Digitalization: The forum highlighted the transformative potential of digital technologies in industry. Business leaders discussed integrating advanced digital solutions to drive efficiency and innovation, ensuring both economies remain competitive in the global market.
- Skilled Workforce and Training: Addressing the growing demand for skilled labor, the forum stressed the importance of workforce development. Indian and German stakeholders agreed on the need for joint vocational training programs to meet industry needs and equip workers for future challenges.
- Strengthening Supply Chains: With disruptions in global supply chains posing significant challenges, the forum prioritized resilience and diversification. Leaders proposed collaborative measures to ensure stability and sustainability in critical supply networks.
Fast Track Mechanism Recognized as a Success
Both nations acknowledged the achievements of the Indo-German Fast Track Mechanism, which has effectively addressed trade and investment hurdles. Discussions underscored its importance in facilitating smooth business operations, with a commitment to continuing its role in resolving bilateral trade issues.
Shared Vision for Economic Growth
The forum also reflected on the longstanding presence of German businesses in India and the growing footprint of Indian companies in Germany.
Both Prime Minister Modi and Chancellor Scholz emphasized the importance of enhancing trade linkages, leveraging the opportunities presented by each nation’s strengths. “India offers immense opportunities for global businesses, and we look forward to building deeper collaborations with Germany to unlock this potential,” said Prime Minister Modi during the discussions.
Chancellor Scholz highlighted the significance of India as a partner in innovation and sustainability. “Germany is committed to fostering economic partnerships with India, particularly in areas critical to the future, such as clean energy and advanced technologies,” he stated.
Platform for Expanding Opportunities
As part of the Asia Pacific Conference 2024, the CEOs Forum provided a stage for showcasing India’s potential as an investment hub for German companies. Participants left with a shared sense of purpose, aiming to strengthen economic cooperation and build resilient, forward-looking partnerships between the two nations.
