Germany: Engineering Excellence
Germany is the manufacturing core of Europe with an approximate output of $ 830 billion. Its global reputation for engineering excellence translates to strong performance for its manufacturing industry, making it a leader in automobiles, machinery and industrial equipment. Luxury car brands such as BMW, Mercedes-Benz, Audi, and Volkswagen reflect Germany’s reputation for quality, performance, and engineering sophistication. In addition to the automobile sector, Germany also is a significant producer of industrial machinery, automation technologies, and precision tools to enable industries worldwide.
"We want to shape the transformation of the automotive industry and not chase after it," Friedrich Merz, Chancellor of Germany said. "And we want to take advantage of the great opportunities that lie in this transformation for the German automotive industry and for Germany as a whole."
Germany has a strong footprint in chemicals, pharmaceuticals, and renewable energy. It has a strong commitment to sustainability, which has pushed technological advances in areas of green technology, especially wind energy and solar energy equipment.
India: A Rising Manufacturing Hub
India has rapidly climbed the ranks in manufacturing, nearing an output of $500 billion. With its "Make in India" initiative and a youthful labor force, India is positioning itself as a global power in manufacturing and innovation. India's automotive industry is one of the most resilient industries, especially in two-wheeler production.
India stands uniquely poised to emerge as a global manufacturing powerhouse amid the challenging geopolitical environment, according to Mahindra & Mahindra Group CEO and Managing Director Anish Shah.
Fossil pharmaceuticals are another major sector in which India, known as the "pharmacy of the world," has a large global market share for manufacturing generic drugs and vaccines. India also has a significant steel, cement, and textile sector servicing both local and export demand. Industries such as IT hardware, space technology, and defence equipment indicate India's aspirations to join the global manufacturing landscape.
T V Narendran, CEO, Tata Steel said, "Unlike China which built a large manufacturing economy and now is trying to make it green, India can build a large manufacturing economy which is greener than the one that China built over the last 20-30 years,"