India-Germany synergy in AI adoption, semiconductors and green technology to drive global growth: Piyush Goyal

Minister Goyal emphasized that modern India is built on robust macroeconomic fundamentals, highlighting the nation’s commitment to reform, resilience, and readiness for future business opportunities.

During the inauguration of the 18th Asia Pacific Conference of German Business (APK) in New Delhi, Union Minister of Commerce & Industry Piyush Goyal articulated a vision of collaboration between India and Germany, merging Germany’s precision engineering with India’s scalable infrastructure capabilities. He expressed optimism that this partnership could yield extraordinary results on a global scale, particularly in areas like artificial intelligence (AI), semiconductors, the vibrant startup ecosystem, and green technology.

A Foundation of Strong Macroeconomic Fundamentals

Minister Goyal emphasized that modern India is built on robust macroeconomic fundamentals, highlighting the nation’s commitment to reform, resilience, and readiness for future business opportunities. He pointed out India's proactive role in combating climate change, recalling the nation’s pledge at the UN Climate Change Conference (COP21) in 2015. Goyal noted that India, in collaboration with the Global South, is working closely with developed countries to address environmental challenges. Currently, India is ranked 7th in the Climate Change Performance Index (CCPI) and is on track to exceed its nationally determined contributions (NDCs).

Economic Opportunities in the Asia-Pacific Region

Acknowledging the significance of the Asia-Pacific region, which comprises 60% of the world’s population, Goyal mentioned that by 2030, two-thirds of the global middle class will reside in Asia. This demographic transformation presents substantial opportunities for businesses aiming to expand their influence and capitalize on emerging sectors. “The Conference will be crucial for identifying emerging trends and addressing global challenges,” he said, underlining the need for collaboration in sharing best practices and driving technological advancements.

Cultural Richness and Strategic Partnerships

Expressing gratitude to the Asia Pacific Committee of German Business and the Indo-German Chamber of Commerce for organizing the event, Goyal called for deeper strategic partnerships between India and Germany. He encouraged participants to embrace the richness of Indian culture, particularly during the festive season stretching from Diwali to Christmas and New Year. In a poignant reflection, he quoted German philosopher Arthur Schopenhauer, urging attendees to appreciate the cultural diversity that India offers.

In conclusion, Goyal inspired the attendees with a quote from Rabindranath Tagore, “Reach high, for stars lie hidden in you. Dream deep, for every dream precedes the goal,” motivating them to envision a future where innovations and products crafted in India and Germany positively impact every corner of the globe.

The conference not only seeks to foster bilateral trade and investment but also aims to establish India and Germany as key players in addressing global economic challenges. With a focus on sustainability and technological collaboration, Goyal’s address set the tone for meaningful discussions that could lead to transformative partnerships in the years to come. The continued engagement between these two nations promises to leverage their strengths, ensuring economic growth and enhanced quality of life for their citizens.