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“Make in India” at EBS Universität

28 October 2016 | By: Pressestelle EBS Universität

Good economic relations are of extraordinary importance – this applies to both Germany and India alike. The “largest democracy” and fastest growing economy in the world has especially been interested in constantly developing the existing potentials for collaboration and exploiting them more extensively under Prime Minister Narendra Modi, who is in office for two years now. This was emphasized by the Consul General of the Republic of India, Raveesh Kumar, and the CEO of the Frankfurt branch of the State Bank of India, Rana Ashutosh Kumar Singh, in the context of a lecture and discussion evening on the German-Indian economic relations at EBS Universität.

Both countries maintain close bilateral relationships. Germany assists India in its search for a new geopolitical, economic and regional role. The partner country of last year’s Hannover Messe has attracted attention for two years and wants that to be understood as invitation to German companies to engage in India even more extensively. “Some companies still hesitate and observe how we proceed, but we are convinced that we can also win their confidence,” promises Raveesh Kumar. Even though both countries would have different cultures and world views, their interests would be similar. As a diplomat, his task would be paving the way for cooperation between these poles. India would offer a huge local market, low site costs and a competitive exchange rate. These factors would also be attractive for the German mid-sized sector. “We always try to consult companies at the best and explain to them both opportunities and concerns. Finally, however, it is their decision if they want to invest in our country. If they won’t come to us, maybe other will do instead,” explains Kumar. His impression would be that a whole string of investors are eager but don’t have the knowhow doing this step by their own. It would therefore be the interest of both nations to further increase the bilateral trade volume, which he estimates at 17 billion euros in the last year.

Also Rana Ashutosh Kumar Singh is committed to this mission and held a lecture on the topic “Creating opportunities and bridging gaps: The important role of a financial service provider for India in Germany”. As the largest and oldest commercial bank in India the State Bank of India would like to support companies in Germany in questions of financing, trade and partnership. „The State Bank of India has been engaged in Germany for over 50 years and can rely on an extensive pool of experience. Thus, we are the ideal local contact for German and Indian companies,” explains Kumar Singh. As a successful example he mentions the long-term commitment of Siemens India to rail systems and subway projects.

Afterwards both guests answered the questions of the attendees among whom were many Indian students of EBS Business School. The exchange of views between the countries was rounded off by a drink in the historical wine cellar of Schloss Reichartshausen.

As one of the leading universities of economics and business administration in Germany, EBS Universität has a strong international orientation. Among its 232 partner universities around the globe are five economically and three legally oriented universities in India. At the moment roughly 100 students from India are enrolled at EBS Universität and demonstrate the great importance of bilateral relations on the educational level. Moreover, a dual degree agreement with the Indian Institute of Management enables EBS students to get a further degree from a renowned Indian Business School in addition to their Master’s degree and at the same time acquire a thorough understanding of the political and economic environment in India.

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