Berlin: German companies plan to double or triple their growth in India over next three to five years as they look to cut costs, expand manufacturing and become more competitive in global markets, commerce and industry minister Piyush Goyal said Friday at conclusion of his visit to Germany.
Goyal proposed licensing arrangements under which India and Germany could work as trusted partners on technologies they co-create and help develop skills of Indian youth. While stressing need to bring Indian talent back to country, he ruled out any China-style programmes to reverse brain drain.
"Children from developed countries will ultimately have to come to countries like India, Africa, Latin America, whose growth engine of future is there... So we are working on that," he said.
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Each one of them tells me about their global capability centres, in a big way in India, where they employ lakhs of talented young boys and girls," Goyal said. "There are more than 2,100 GCCs in India." "Gradually, this is obviously going to result in co-creation and co-innovation also but I would like to go step by step," minister said, inviting German research institutions to set up operations in India.
According to minister, promising areas for cooperation include power, electronics, semiconductor, automotive, quantum computing, smart manufacturing, automotives and auto components, batteries, logistics and agriculture. At separate interaction, he said no company in India produces LED screens.
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Analytically, German pivot to India as partner reflects China-plus-one and US tariff bullying. For India, which has $83 billion trade deficit with China and depends on Chinese handset brands 68%, German co-creation offers alternative tech source. If India builds ecosystem not China-style programmes, talent may return - need enabling environment, not just salary.
Tags: #PiyushGoyal #Germany #CoCreation #GCC #BrainDrain #MakelnIndia #Siemens #Volkswagen #IndiaGermany #PartnerNotMarket