German Ambassador Philipp Ackermann Talks About German Investments in India and Upcoming Visit of Chancellor Olaf Scholz

New Delhi, India – German businesses see India as a very stable place to invest, according to German Ambassador Philipp Ackermann. He anticipates increased German investment in India after the India-EU Free Trade Agreement resolves tax and tariff issues.

In an interview, Ackermann mentioned the possible visit of German Chancellor Olaf Scholz in October, where business and trade relations will be discussed. Migration will also be a key topic.

German India Business Outlook 2024 Survey

Speaking at the release of the German India Business Outlook 2024 survey, Ackermann said, “The survey shows that German businesses are very optimistic about India. Almost 80% of German businesses want to expand, reinvest, build more factories, and invest more in India.”

He noted that German businesses see enormous potential in the Indian market due to its impressive growth rates, making it a stable place to invest.

India-EU Free Trade Agreement

Philipp Ackermann called the long-pending India-EU Free Trade Agreement a “game changer.” Although no specific deadline has been set, he mentioned that the ninth round of negotiations had just concluded. He emphasized that the German government is very supportive of the FTA.

“An FTA will bring clear solutions and regulations on tariffs and trade, which would be a great benefit for German businesses,” Ackermann added.

Upcoming Visit of Chancellor Olaf Scholz

Ackermann also provided details about the possible visit of German Chancellor Olaf Scholz in October. The Chancellor, along with parts of his cabinet, will travel to Delhi to discuss future programs and projects with their Indian counterparts. Business relations, trade relations, and migration will be key topics on the agenda.