Additionally, 78 percent of respondents expect increased sales and 55 percent expect increased profits for the current financial year, up 7 percent from the previous year, according to a report by KPMG in Germany. and the Indo-German Chamber of Commerce. (AHK India).
The top three location factors that make India attractive are low labor costs (54 percent), political stability (53 percent) and qualified specialists (47 percent), according to key findings from the Outlook report. "German Indian business leaders 2024".
"India continues to show enormous potential. And it continues to gain importance as a location for regional manufacturing and global development," said Stefan Halusa, CEO of AHK India.
Around 45 percent of German companies want to use India until 2029 as a production location for both the local and Asian markets.
Expectations for the next five years are even more positive: 82 percent expect an increase in turnover and 74 percent expect higher profits.
"With the re-election of Prime Minister Narendra Modi, German companies hope that many structural problems will be resolved. These include infrastructure deficits in the transport, energy, information and communication sectors, the complex tax system and highly regulated regional regulations. different." explained Andreas Glunz, Managing Partner of International Business at KPMG in Germany.
By 2029, 37 percent of respondents expect sales growth of more than 20 percent and 25 percent of them anticipate profit growth of more than 20 percent, according to the report.
Compared to other Asian countries, 69 percent of German companies see the steady growth of India's economy as a particular advantage, and the weakening of China's economy aggravates this view.
The most populous country in the world offers German companies enormous potential. Currently, a third (33 percent) use India as a production location for the local market. By 2029, 45 percent of companies intend to do so, the report mentions.
The top three location factors that make India attractive are low labor costs (54 percent), political stability (53 percent) and qualified specialists (47 percent), according to key findings from the Outlook report. "German Indian business leaders 2024".
"India continues to show enormous potential. And it continues to gain importance as a location for regional manufacturing and global development," said Stefan Halusa, CEO of AHK India.
Around 45 percent of German companies want to use India until 2029 as a production location for both the local and Asian markets.
Expectations for the next five years are even more positive: 82 percent expect an increase in turnover and 74 percent expect higher profits.
"With the re-election of Prime Minister Narendra Modi, German companies hope that many structural problems will be resolved. These include infrastructure deficits in the transport, energy, information and communication sectors, the complex tax system and highly regulated regional regulations. different." explained Andreas Glunz, Managing Partner of International Business at KPMG in Germany.
By 2029, 37 percent of respondents expect sales growth of more than 20 percent and 25 percent of them anticipate profit growth of more than 20 percent, according to the report.
Compared to other Asian countries, 69 percent of German companies see the steady growth of India's economy as a particular advantage, and the weakening of China's economy aggravates this view.
The most populous country in the world offers German companies enormous potential. Currently, a third (33 percent) use India as a production location for the local market. By 2029, 45 percent of companies intend to do so, the report mentions.
