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- India Rising #1
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Thank you for subscribing to India Rising. This is the very first issue of the newsletter and I’m glad that you are part of my journey of sharing insights about the Indo-European landscape. From EU-India Trade Agreements to the impact of new electric vehicle policies and latest developments in India’s real estate market, we have a broad mix of topics.
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Rise of the Week - EU-India Free Trade Agreement
The EU and India have a much stronger economic partnership than many know:
Over 6,000 European companies are present in India
The EU is India's largest trading partner, ahead of the US and China.
Trade in goods has increased by almost 90% over the past decade and reached EUR 124 billion (12.2% of total Indian trade) in 2023 according to the European Commission
The development of the EU-India trade particularly accelerated over the past few years and the momentum is expected to continue. The following chart shows the rising trade since the year 2000 according to Eurostat:
To strengthen those ties further, a delegation of the European Commission incl. its President Ursula von der Leyen met Prime Minister Narendra Modi and his government on February 27th-28th to discuss opportunities to take the EU-India Strategic Partnership to the next level.
In this era of intense geostrategic competition, Europe stands for openness, partnership, and outreach. We seek to deepen ties with one of our most trusted friends and allies—India. Europe and India are like-minded partners, bound by the shared conviction that democracy best serves the people. That’s why one of the first visits of the new Commission is to India. We are committed to strengthening our strategic partnership to advance trade, economic security, and resilient supply chains, along with a common tech agenda and reinforced security and defence cooperation.
Both sides agreed on three core areas for the future of the EU-India cooperation:
Trade and technology
Security and defence
Connectivity and global partnership
Amongst other major announcements, both sides agreed on one key goal: reaching a deal for the EU-India free trade agreement still in 2025. In addition to Germany’s large delegation visit to India in 2024, this is a promising step and a positive sign for the upcoming update of the European Commission’s EU-India Strategic Agenda which is expected in the coming months.
Sources: European Commission (Feb 28 2025), European Commission (Feb 21, 2025)
What else is Rising?
Delhi’s EV Policy 2.0 Aims for 95% Adoption of Electric Vehicles
A new policy proposed by the Delhi government shows the ambitious plans of electric vehicle adoption in India. The EV Policy 2.0 targets an electric vehicle share of 95% of all new vehicle registrations by 2027. Intention is to not only fast-track EV adoption in India’s capital, but to keep the leadership position in the country.
To make it more attractive, purchase incentives for
Electric two-wheelers (motorbikes etc.)
Three-wheelers
Trucks and cars
alike are considered. Furthermore, investments into public charging infrastructure are planned and it might become mandatory for new developments to provide charging stations.
The European automotive sector faces significant challenges amid industry transformation. While the industry may hope to replicate their Chinese market success in India by targeting its growing middle class, they may be caught off guard by India's rapid adoption of electric vehicles. Historically, regulatory policies often begin in major metropolitan areas before expanding nationwide. Success remains viable for European automakers, but will likely require comprehensive electrification strategies to materialize.
Source: Times of India
Morgan Stanley - India 3rd Largest Economy by 2028
Based on a recent evaluation by Morgan Stanley, India is expected to become the world’s 3rd largest economy by 2028. Expected to reach a GDP of USD 5.7 trillion by 2028, this means that India would overtake Germany that year after overtaking Japan to become the 4th largest economy globally in 2026.
The implication is that India will be the world's most sought-after consumer market, it will undergo a major energy transition, credit to GDP will rise and manufacturing could gain share in GDP.
Some of the main reasons that are supposed to lead to this positive development are
Robust population growth of the already largest population globally
India’s functioning democracy and macro focused policy
Better infrastructure
Improving social outcomes
Per Morgan Stanley, this trajectory will be subject to external impacts such as global growth rates as well as US policy changes incl. tariffs against India. But overall, it’s more of a question when and not if.
Source: Morgan Stanley
Quick Risers
The German automotive supplier Schaeffler is evaluating the establishment of a Global Capability Centre (GCC) in India as part of its global strategy to enhance software and digital capabilities. The company is undergoing a broader transformation towards electrification, digitalisation, and climate neutrality and already runs a mechatronics center in Pune and 900 engineers strong capability center in Bengaluru. (Source: Autocar Professional)
Ericsson, Volvo Group, and Airtel announce research collaboration on Digital Twins & XR over 5G Advanced in India. The collaboration with one of India’s leading telecommunication companies is supposed to strengthen capabilities in connectivity for real-time simulations, design prototyping, and immersive training across multiple factory and industrial sites. (Source: Ericsson)
Allianz is selling its Joint Ventures with Indian Bajaj-Group for EUR 2.6 Billion and plans to reinvest, potentially start its own business. Europe’s largest insurance company considers offering its services in the Indian market directly and not only act as investor. This can be seen as confirmation of India’s market opportunities. (Source: Die Zeit)
Bengaluru real estate developer Bagmane Group is likely to acquire Cognizant Technology Service’s 560,000 sqft large tech campus in Chennai. The property could potentially allow for 3 million sqft of additional development for Chennai’s IT sector. (Source: The Economic Times)
Spotlight - Indo-German Young Leaders Forum 2025
Source: Indo-German Young Leaders Forum
Since 2017, the Indo-German Young Leaders Forum hosts its annual conference to promote bilateral exchange. Application for this year’s conference in New Delhi (October 9-12, 2025) is open until March 30, 2025.
Take a look and apply via this link!
Curiosity Corner
Your random facts & stories about India and the Indo-European friendship.
India's ancient trade route (with Europe) was more important than the Silk Road ever was. The balance of trade overwhelmingly was in favour of India and that is why you find tens of thousands of Roman coins. In fact, more Roman coins have been found in India than in any other country except Italy.
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