Union Minister Ashwini Vaishnaw Invites German Companies to Invest in India

GG News Bureau
Stuttgart, 22nd Nov. Union Minister for Electronics and Information Technology, Ashwini Vaishnaw, has urged German companies to invest in India, highlighting the country’s political and economic stability as key advantages. Speaking at the TV9 Global Summit in Stuttgart on Thursday, Vaishnaw emphasized India’s steady growth rate of 6-8 percent and its potential for sustained growth in the coming years.

He encouraged German businesses to consider India as a vital part of their supply chains, pointing out that the country is home to over 1,800 global capability centers spanning various sectors. “We offer a vast pool of talent, with world-renowned capabilities in IT,” Vaishnaw said, underscoring the nation’s robust workforce.

The minister also highlighted India’s resilience amid global political and economic uncertainties. “While many democratic nations have faced turmoil, India remains a trusted partner, offering both political and economic stability,” he added.

Vaishnaw pointed to India’s healthy economic fundamentals, noting that the country’s debt is at 57 percent of GDP, significantly lower than other large economies. He credited India’s strategic growth model, based on four pillars: public investment in infrastructure, inclusive growth programs, focus on manufacturing and innovation, and the simplification of legal and compliance structures.

In line with Prime Minister Narendra Modi’s vision of “minimum government, maximum governance,” Vaishnaw highlighted the government’s efforts to streamline processes, including the repeal of over 1,500 outdated laws and the removal of 40,000 compliance requirements. He also noted the introduction of new legislations like the Digital Personal Data Protection Act and the Telecom Act, which provide a transparent framework for India’s growing digital economy.

This call for investment comes as India continues to strengthen its position as a global economic powerhouse, attracting more international businesses to tap into its vast market and talent pool.