Is India Set To Secure A $1.5 Billion German Investment? Union Minister Piyush Goyal Answers

Union Minister of Commerce Piyush Goyal has disclosed a possible deal between country and a Germany based chemical company. The union minister has stated that the German company has planned to invest $ 1.5 billion in the Indian market over the next 12 months.

 Additionally, without disclosing the name of company and the state where a land will be allotted for the project he said, both the shareholders, state Chief Minister and head of the concerned company are scheduled for a discussion on this Sunday. 

“The company will have the allotment of land in his hand, and we will have a billion-and-a-half dollars of foreign direct investment coming into the country over the next 12 months", Goyal said at a session of the Union Internationale des Avocats (UIA) as per reported by PTI.

Adding the further details about the said project, Goyal stated that the company is looking for a parcel of land about 250 acres near a port. 

Government Efforts To Attract Foreign Investment

Talking about the measures that are being taken by the government to attract foreign investors, he underscores that the governments are not going overzealous with the regulations and also neglecting minor offences. The government is also taking care of any unnecessary law hindrance faced by the companies to improve the business environment of the country. 

He also reflected on the need of a strong and credible arbitration system which may be useful in reducing the judicial delays as it will result in a smooth operating business ecosystem. 

Signifying the importance of empowering mediation and arbitration in the country, he said, “We will obviously have disputes, we will obviously have areas of disagreement, and if we can keep the courts unclogged, our desire to become a global manufacturing hub will get a big boost".

FDI From Germany

India receives massive foreign direct investment from this European country. According to government data, Germany is the ninth largest investor in India with 15 billion FDI between April 2000 to December 2024.