German investors buckled up as Modi govt appear promising

Foreign investors are more optimistic about investing in India contemplating the considerable differences that the Modi- led government has brought in these past ten months.

Tracing back to what German ambassador Micheal Steiner said on Wednesday, “The climate in India has indeed changed. There is more optimism now, a greater confidence, there is also investment coming into India…the mood has changed,”

The recent visit of Prime Minister Narendra Modi’s recent visit to France, Germany and Canada is aimed at wooing the foreign investment to boost economic growth and provide jobs for the estimated 12 million youth, who enter the Indian labor market every year.

Inaugurating the Hannover Messe, the world’s biggest business fair where around 400 Indian companies had taken 7,000 sq. m of space at the fair to showcase the best of local technology and expertise; with German chancellor Angela Merkel, assured that India is working on a “predictable and transparent” environment to open up investments.

Strongly convincing about his new campaign Make In India, he suggested that Make in India is not just a slogan or a brand but a national movement. He also said, “We are creating an environment that is stable, where rules will not be changed frequently and there will be no surprise elements.”

The Prime Minister was also accompanied by commerce and industry minister Nirmala Sitharaman, who attended a round table with the German Chancellor and invited them to invest in India.
He individually met the CEOs Lutz Bertling of Bombadier Transportation, Hubert Lienhard of Voith, Olaf Koch, Metro AG and Dirter Zetsche of Daimler.

From Germany, P.M Modi will travel to Canada, where he will visit Ottawa, Toronto and Vancouver. Canada is the 11th largest economy in the world and its top five pension funds when added together are worth $700 billion, according to S. Swaminathan, additional secretary in charge of the America’s division in the foreign ministry.

The overall objective of the visit is to elevate, diversify and deepen and impart new vigour through concrete steps,” said the German ambassador.

• About the Author

About Sanika Govekar

An avid reader with a love for English, an achiever; she has a burning desire to succeed. She wants to make a difference to the society and strongly believes that self-discipline and a monumental work ethic can beat natural ability. Aim to Major in Economics.