North Rhine-Westphalia: Set To Make Its Mark in India and Strengthen Indo-German Relationship – Join the Beat! | The Financial Express

North Rhine-Westphalia: Set To Make Its Mark in India and Strengthen Indo-German Relationship – Join the Beat!

NRW.Global Business, the state-owned trade, and investment agency of the state of NRW, supports Indian companies in settling or expanding projects in NRW and offers a comprehensive range of information on the business location.

North Rhine-Westphalia: Set To Make Its Mark in India and Strengthen Indo-German Relationship – Join the Beat!
Felix Neugart, CEO of NRW. Global Business GmbH © NRW. Global Business-India

North Rhine-Westphalia (NRW) is a highly diversified and attractive business location with conditions that offer Indian investors optimal opportunities for success. The state is the most important economic region in Germany and has for years been one of the most popular locations for foreign companies in Europe. For them, the location is a real success factor: NRW is an innovative and cosmopolitan state with plenty of room for investment – and literally Europe’s heartbeat! 

With 17.9 million inhabitants, NRW is the most populous of Germany’s 16 federal states. Around 160 million people live within a radius of 500 km around the state capital Düsseldorf – equivalent to almost one-third of all EU consumers. From no other location in Europe can so many people with such high purchasing power be reached within such short distances as NRW. Moreover, 17 of the 50 highest-grossing German companies have their headquarters in NRW, including Bayer, Bertelsmann, Deutsche Post DHL, Deutsche Telekom, E.ON, Henkel, and ThyssenKrupp. And more than 700,000 small and medium-sized enterprises form the economic backbone of the state. The almost 70 universities in NRW educate almost 770,000 students. Around 90,500 of them are studying computer science and electrical engineering. This talent pool has been growing steadily for years, an important location advantage not only for established market players in the digital economy but also for young startups.

The state is sought after by international investors from all over the world. NRW has established itself by far as the leading investment location for companies from all over the world compared to the 16 German federal states. More than 20,000 foreign companies are based there. Major Indian companies, such as Infosys, TCS, Wipro, Ashok LeylandBharat Forge, Kalyani Group, Arcelor Mittal, and Essar Steel already have business operations in NRW. This development is adding to NRW’s reputation as a trailblazer. 

German-Indian business relations on the rise

India and Germany have an excellent bilateral trade relationship. With Germany’s new INDO-Pacific strategy, India is seen as a potential partner with respect to trade exchange and investments. Dr. Tobias Traupel, Director General, Ministry of Economic Affairs, Industry, Climate Action, and Energy of the State of NRW recently discussed the policies of NRW for sustainability as well as the focus on the Indian market. He said that as part of the new INDO-Pacific guidelines, India holds a prominent space for Germany in building strategic alliances and is a valued partner. He added that the NRW region was seeking partnerships from Indian organizations in the field of deep tech, sustainability, innovation, and start-ups as the state was looking to transform its economy and that NRW’s traditional industry and start-ups could profit from collaboration with Indian companies and start-ups.

Achim Burkart, Consul General of Germany in Bangalore stated that both countries looked forward to an Indo-German decade. He added that India was at the center of German attention and both countries had much to contribute to each other in every sphere. He suggested that as part of this relationship, the NRW region could serve as a hub for developing products and services for the wider European scenario.

North Rhine-Westphalia – Europe’s Heartbeat, © NRW.Global Business

New Bangalore office to boost economic relationships

NRW.Global Business, the state-owned trade, and investment agency of the state of NRW, supports Indian companies in settling or expanding projects in NRW and offers a comprehensive range of information on the business location. Moreover, NRW.Global Business also assists businesses from NRW to expand their footprint on the Indian market. 

To nurture and promote the bilateral trade relationship between India and NRW, NRW.Global Business has recently inaugurated a branch office in Bangalore, the innovation hub of India to manage its operations in India. The office is headed by Ms. Ambika Banotra as Chief Representative. 

Felix Neugart, CEO of NRW.Global Business, highlighted the major strength and challenges while working in India mentioning that many Indian tech giants have already opted for NRW – especially because of the excellent market prospects, the research and university landscape, and the highly qualified specialists they find here. At the same time, the Indian market also offers excellent export prospects for the NRW economy, for example in the field of renewable energies. NRW.Global Business aims to build a bridge with its office and establish direct contacts with companies, associations, institutions, chambers, and politics.

The state of NRW was also a part of the 25th Edition of the Bangalore Tech Summit and presented a session on NextGen-Tech for Sustainability. It focused on sustainable ways in various sectors and highlighted the excellent cooperation between research institutions, academia, government, industry, and industry bodies in Germany as well as India. 

To reach NRW.Global Business in Bengaluru, please contact:

Ambika Banotra

Chief Representative – NRW Global Business – India

Tel: +91-9110215076 

Email: ambika.banotra@nrwglobalbusiness.co.in 

www.nrwglobalbusiness.com

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First published on: 02-12-2022 at 11:45 IST