During the 18th Asia Pacific Conference of German Business held in New Delhi on Friday, Vice-Chancellor and Federal Minister for Economic Affairs and Climate Action of Germany, Robert Habeck, underscored the pressing need for Germany to recalibrate its trade policies. He emphasized the importance of diversifying trade relationships to reduce dependencies on major partners, particularly China and Russia. In his address, Habeck stated, “We are in a very complex situation, and we have to reshape, recalibrate our economic success story these days. Diversifying our trade politics, finding new partners, and deepening our partnerships is of Germany's highest political and economic importance right now.”

The vice-chancellor acknowledged the increasing scepticism and geopolitical tensions that necessitate this strategic diversification. He outlined India's vital role in these economic shifts, asserting, “India is one of the most important partners here in this region, but also in the world. We cannot afford not to have an EU Free Trade Agreement.” This statement reflects Germany's recognition of India as a key player in fostering international trade and economic collaboration.

Habeck further positioned Germany as an attractive investment destination, remarking, “If you like to invest in Germany, the single market is one of the big advantages.” He reflected on Germany's historical reliance on globalization, particularly in its energy trade with Russia and commercial ties with China, while recognizing the challenges posed by the evolving global landscape.

Supporting Habeck's insights, Roland Busch, Chairman of the Asia Pacific Committee of German Business and CEO of Siemens, echoed the need for investments in energy, manufacturing, and local ecosystems. He emphasized that enhancing job creation and fostering growth in high-end manufacturing and green technologies are critical for navigating future economic challenges.

The discussions at the conference highlighted the strategic imperative for Germany to adapt its trade policies amid changing global dynamics. As India and Germany strengthen their partnership, the potential for collaboration in various sectors, including technology and sustainable development, presents a promising path forward for both nations.

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