German CEOs see India as a key supply chain destination: Ambassador

German companies are looking at India as one of the most important prospective destinations in the backdrop of the need for diversified global supply chains, according to India's ambassador to Germany Ajit Gupte.

- Utpal Bhaskar

"What has happened as a result of the conflict and also the covid-19 pandemic is that there is growing realization in Europe and particularly in Germany, that you need to build global resilient supply chains, that they can no longer depend on sourcing everything, manufacturing everything in one particular country. And that they need to rebalance, they need to de-risk," Gupte told Mint in an interview on the sidelines of the News9 Global Summit in Stuttgart during 21-23 November.

"De-risking is a phrase which I have heard in the short time when I have met German CEOs. And they are looking at various options," he said. "India is certainly one of the most important prospective destinations that they are looking at. But to be frank, they are also looking at other countries like Malaysia, Thailand, Mexico. So, there is competition."