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Written by 7:06 am Manufacturing Processes

India is one of the most important trading partners in world, says Germany’s Vice-Chancellor and Federal Minister for Economic Affairs and Climate Action of Germany, Mr. Robert Habeck

During the 18th Asia Pacific Conference of German Business held on Friday in New Delhi, Vice-Chancellor and Federal Minister for Economic Affairs and Climate Action of Germany, Mr. Robert Habeck, emphasised the necessity of recalibrating Germany’s trade policies. He highlighted the importance of diversifying away from dependencies on major partners like China and Russia. He stated, “We are in a very complex situation, and we have to reshape, recalibrate our economic success story these days. Diversifying our trade politics, finding new partners, and deepening our partnerships is of Germany’s highest political and economic importance right now.” He acknowledged that increasing scepticism and geopolitical tensions necessitate this diversification.

He underscored India’s vital role in navigating these economic shifts, asserting, “India is one of the most important partners here in this region, but also in the world. We cannot afford not to have an EU Free Trade Agreement.” He positioned Germany as an attractive investment destination, remarking, “If you like to invest in Germany, the single market is one of the big advantages.” He further reflected on Germany’s historical reliance on globalisation, particularly in energy trade with Russia and commerce with China, while acknowledging the challenges posed by the evolving global landscape. Chairman of the Asia Pacific Committee of German Business and CEO of Siemens, Mr. Roland Busch, supported his views, emphasising the need for investments in energy, manufacturing, and local ecosystems to enhance job creation and foster growth in high-end manufacturing and green technologies.


Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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