At the recent 18th Asia-Pacific Conference of German Business (APK 2024), Prime Minister Narendra Modi underscored the deepening relationship between India and Germany. This forum serves as a vital platform for enhancing business collaboration between the two nations, showcasing their commitment to strengthening economic ties.
Celebrating 25 Years of Strategic Partnership
This year marks a significant milestone, as it is the 25th anniversary of the India-Germany strategic partnership. PM Modi expressed optimism for the future, stating that the next 25 years would elevate their collaboration to new heights. He emphasized the importance of working together to tackle global challenges while fostering economic growth.
Key Developments at the Forum
One of the critical announcements made during the conference was Germany's plan to significantly increase the number of skilled worker visas granted to Indians from 20,000 to 90,000 annually. This decision reflects Germany's recognition of India's skilled workforce and aims to bolster economic growth in both nations.
The release of the “Focus on India” document by the German Cabinet was another highlight, outlining strategies for collaboration in various sectors. The document emphasizes the role of India and Germany as two strong democracies working together for global good, paving the way for a more robust partnership.
Economic Growth and Bilateral Trade
Trade between India and Germany has reached over $30 billion, with both countries actively seeking to increase their economic engagement. German companies have established a significant presence in India, while Indian firms are expanding their operations in Germany. PM Modi encouraged businesses to leverage India's capabilities under the "Make in India, Make for the World" initiative, which aims to position India as a global manufacturing hub.
Looking Ahead
The India-Germany CEO Forum represents a promising step towards enhanced economic cooperation, with both nations committed to navigating the complexities of a changing global landscape. As they celebrate their historical partnership, the focus will be on innovation, sustainability, and mutual growth.
In conclusion, the recent discussions and developments highlight the importance of continued collaboration between India and Germany, ensuring that both nations can thrive in an increasingly interconnected world.
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