German Firms Eye India Base: CEOs plan major manufacturing, R&D expansion; tied to India-EU FTA

German companies are shifting their perspective of India from merely a market to a strategic manufacturing partner. Minister Piyush Goyal emphasized the potential for collaboration in manufacturing, innovation, and research and development during his recent visit to Germany. He noted that the India-EU free trade agreement is expected to enhance business activities and investments. Many German firms are planning substantial expansions in India, potentially doubling or tripling their operations soon.