Vaishnaw urges German companies to invest in India

Asserting that India offers political and economic stability, Railways and Electronics & IT Minister Ashwini Vaishnaw has urged German companies to invest in the country.

Speaking at the TV9 Global Summit in Stuttgart, Germany, he said that India was growing steadily at 6-8 per cent and was poised to continue this trajectory for many years to come. “Consider including India in your supply chain. India hosts over 1,800 global capability centres across virtually every sector. We offer a vast pool of talent, with world-renowned capabilities in IT.”

The success of our government is evident from the fact that good economics can also make good politics, he said, adding that while many democratic nations have faced turmoil, India remains a trusted partner, offering both political and economic stability.

Vaishnaw said India had a very healthy balance sheet, with debt at 57 per cent of the GDP, well below the debt levels seen in other large economies. “This success is not a coincidence. It is the result of a clear, well-thought-out strategy and meticulous execution,” the Minister said.

He said India’s growth strategy is based on four pillars: public investment in physical, social and digital infrastructure; large number of inclusive growth programmes; focus on manufacturing and innovation; and simplification of legal and compliance structures.

The Narendra Modi government has repealed over 1,500 outdated laws and removed 40,000 unnecessary compliance requirements, Vaishnaw said. “New legislations, such as the Digital Personal Data Protection Act and the Telecom Act, now provide a transparent framework for today's digital economy,” Vaishnaw noted.