Germany Leverages India to Decrease Dependence on China

• Chancellor Olaf Scholz leads a delegation to India, aiming to reduce Germany's reliance on Beijing by tapping into India's market.
• Despite hurdles like bureaucracy and corruption, 82% of German firms expect their revenues to grow in India over the next five years.
• German logistics giant DHL plans to invest half a billion euros in India by 2026, targeting the rapidly growing e-commerce market.
• Volkswagen, facing falling sales in China and high production costs at home, is considering new partnerships in India for joint production.
• Trade between Germany and India hit a record high in 2023, with India expected to overtake Germany and Japan to become the world's third-largest economy by the end of the decade.

Source: Reuters