Prime Minister Narendra Modi addresses the News9 Global Summit
Prime Minister Narendra Modi addresses the News9 Global Summit
The Prime Minister Shri Narendra Modi addressed the News 9 Global Summit in Stuttgart, Germany, today, through video conference. Addressing the gathering, PM Modi said that this summit is an addition of a new chapter to the Indo-German Partnership. The Prime Minister said, “I am happy that a media group from India is trying to connect with Germany and the German people in today’s information age. This will also provide a platform to the people of India to understand Germany and the people of Germany.”
The Prime Minister stated that the summit is organized by India’s TV 9 in collaboration with F.A.U. Stuttgart and Baden-Württemberg in Germany. The theme of the summit is “India-Germany: A Roadmap for Sustainable Growth,” reflecting the responsible partnership between India and Germany, the PM remarked. The Prime Minister noted that over the past two days, the attendees have engaged in productive discussions on economic issues as well as topics related to sports and entertainment, highlighting the broad scope of collaboration between the two nations.
The Prime Minister Shri Narendra Modi emphasised Europe’s strategic importance to India, particularly in terms of geopolitical relations, trade, and investment, with Germany being one of India’s key partners. The year 2024 marks the 25th anniversary of the Indo-German Strategic Partnership, making it a historic year. The Prime Minister highlighted the notable events including Chancellor Scholz’s third visit to India and the Asia-Pacific Conference of German Businesses being held in Delhi after 12 years. Germany also released the “Focus on India” document and its first country-specific “Skilled Labor Strategy for India,” further strengthening bilateral ties, the Prime Minister added.
The Prime Minister noted that while the Indo-German Strategic Partnership has existed for 25 years, the relationship between the two countries dates back centuries. Notably, a German created Europe’s first Sanskrit grammar books, and German merchants introduced Tamil and Telugu printing to Europe. The Prime Minister said, “today, nearly 300,000 Indians live in Germany, with 50,000 Indian students studying there. In India, over 1,800 German companies have invested $15 billion in the last 3-4 years.” Bilateral trade between the countries stands at around $34 billion, and this trade will continue to grow in the coming years due to the strengthening partnership, the Prime Minister added.
The Prime Minister emphasised India as the world’s fastest-growing large economy, with which the world has an interest in partnering for growth. Germany’s “Focus on India” document reflects the world recognising the strategic importance of India. This shift is attributed to India’s reforms over the past decade, which have improved business conditions, reduced bureaucracy, and modernised policies across sectors. Key reforms include simplifying the tax system with GST, eliminating over 30,000 compliances, and stabilising the banking sector, the Prime Minister elaborated. Prime Minister Modi added that these efforts have laid a strong foundation for India’s future development, with Germany continuing to be a key partner in this journey.
The Prime Minister highlighted the India’s progress towards becoming a major global manufacturing hub, drawing parallels to Germany’s own development in manufacturing and engineering. Under the “Make in India” initiative, the country is offering production-linked incentives to manufacturers. India has made significant strides, becoming a leading country in mobile and electronics manufacturing, the world’s largest producer of two-wheelers, and the second-largest producer of steel and cement. This transformation marks India’s growing importance in global manufacturing.
The Prime Minister added that India is also the fourth-largest manufacturer of four-wheelers, and its semiconductor industry is poised for global success. This progress is attributed to recent government policies aimed at improving infrastructure, reducing logistics costs, easing business operations, and ensuring stable governance. India is making rapid advancements in physical, social, and digital infrastructure, with a notable global impact from its innovative digital technologies. India now boasts the world’s most unique digital public infrastructure.
The Prime Minister Shri Narendra Modi encouraged German companies already established in India to increase their investments and invited those not yet present to consider entering the Indian market. Emphasising that this is the right time to align with India’s growth, the Prime Minister called for the partnership between India’s dynamism and Germany’s precision, engineering, and innovation. The Prime Minister Shri Narendra Modi concluded his address by highlighting how as an ancient civilization India has always welcomed global partnerships and invited all to join in building a prosperous future for the world.
Addressing the News9 Global Summit. @News9Tweetshttps://t.co/bOCjBBMFPc