Boosting India’s domestic manufacturing push should not lead to a situation where foreign investors feel marginalised, Germany’s ambassador to India, Philipp Ackermann, said at a press conference organised at the German embassy on Tuesday. Alongside highlighting the need for more infrastructure and skilled labour, Ambassador Ackermann also flagged the risk of protectionism in attracting foreign investments into India from countries like Germany. He said, “We understand the Indian government’s wish and desire to promote more manufacturing but it should not lead to a situation where foreign investment and investors get marginalised.”
Ackermann also noted that concluding the free trade agreement (FTA) negotiations between India and the European Union by year-end seemed “ambitious”. “There’s a fair chance that that’s not going to happen. My hope is to do it as quickly as possible. We are very much in favour of a free trade agreement and we are pushing hard but there is still a long way to go,” he added.
Register to continue reading this story
Google
Facebook
Email
Already have an account? Sign in