GERMAN – INDIAN BUSINESS SUMMIT

India has emerged as the fastest growing major economy in the world and is expected to be one of the top three economic powers of the world over the next 10-15 years, backed by its strong & dynamic democracy. India’s labour force is expected to touch 160-170 million by 2020, based on rate of population growth, increased labour force participation, and higher education enrolment, among other factors. In the words of Hon’ble Prime Minister of India, India offers the three ‘Ds’ for business to thrive – democracy, demography and demand. India’s manufacturing sector has evolved through several phases – from the initial industrialization and liberalization and to the current phase of global competitiveness. These opportunities may be in terms of partnerships, collaborations or joint ventures. These may in R&D, manufacturing, distributorship or local support. These may even be in terms of survey, sales or marketing where foreign companies seek information on India and its market.

   The Indian State Governments are rapidly emerging as significant players in the conduct of India’s economic diplomacy, which is a key component of India’s external engagements. Many Indian States such as Andhra Pradesh, Gujarat, Haryana, Karnataka, Madhya Pradesh, Maharashtra, Telangana have already proved to be an industrial hub for sales, manufacturing and production sectors and these States have been doing extremely well in terms of Industrial and Economic development. Huge potential is also available in the States of Bihar, Jharkhand, Uttar Pradesh, Uttrakhand.