And for a Friday after the AGM of the IGCC, some thoughts….. some musings…..
The delegation of the Indo-German Chamber had a very successful trip to Germany culminating in the AGM at Frankfurt, attended by the German Ambassador to India H.E. Dr. P. Ackerman and the Indian Ambassador H.E. P. Harish. There is undoubtedly a much greater appreciation and recognition of the fast changing and vastly improved physical Infrastructure; the awesome digitilisation leaps made by India, stability of its financial systems even in the aftermath of the Covid pandemic and the ripple effects of the War in Ukraine. The India-EU Free trade agreement, a true Game-Changer, is being very seriously pursued and will hopefully fructify by end 2023. Both countries recognise each other’s long standing relationship based on mutual trust and strong Democratic Values. Every company would now have to pursue the “China-Plus-One” strategy, a Win-Win for both countries.
Global consultants KPMG released at the AGM, highlights of their most recent German-India Business Outlook 2023; The major advantages for Investments in India, Political Stability, Availability of abundant English speaking Technical employees and competitive labour costs. Visiting the various organisations in Germany, the dilemma faced by the Mittlestand companies is striking. One such case I observed; CLOSS, a pioneer in welding technology with history of more than 100 years of sustained growth in the town of Hager. Now with more than 550 employees, but with diminishing competitive advantage has been taken over by the Chinese behemoth. How the “German Value” systems, innovation capability and local societal sustainability will be maintained is cause of grave concern. Presently the German CEO of the Company reports to his Chinese bosses. He is maintaining a fragile equilibrium. It’s tough; will it sustain?? Food for thought for German Industry leaders to ponder.
Meeting young Indian CEOs and successful Professionals, as also knowing that more than 30,000 students from India are currently in various educational institutions in Germany, is greatly satisfying. Let’s support India-Germany relationships, the sustainable way, the mutually trusting way, the SEEGOS way.