On 30th May, the Indo-German Business Summit took place at the hotel Adlon in Berlin. The meeting dealt with the business relations of India and Germany and the actual status of the possible conclusion of an India-EU free trade alignment (FTA). Our Director of International Sales, Dr. Axel Ludwig participated the event as one of only 250 invited participants – a big honor! Elementar was invited because of its business engagement in India.
The main speakers were Dr. Angela Merkel, Chancellor of the Federal Republic of Germany and H. E. Narendra Modi, the Prime Minister of the Republic of India. Modi highlighted the huge potential that remains unatapped in the business relations between both countries, even if there are already existing 600 joint ventures, which are employing 200,000 people. He said: “I invite more and more German colleagues and companies to India. Our direction, desire and dreams create tremendous business opportunities.”
Merkel also took a stand regarding the faltering process of the FTA: “There are growing protectionist trends around the world but Germany believes the value chains are so deeply interconnected that we will continue to create fair trading conditions. Within this context, it is important that the FTA makes progress.” If you are interested, you could watch the speeches on YouTube.