Asia-Pacific Conference 2024 in India

Business Opportunities and Geoeconomics: Perspectives on German-Asian Economic Relations Discussed in New Delhi

From 24 to 26 October, the 18th Asia-Pacific Conference of German Business (APK) took place in India’s capital, New Delhi, with the participation of Federal Chancellor Olaf Scholz and Prime Minister Narendra Modi. The APK, a leading biennial conference and exchange platform for the Asia-Pacific economy, is jointly organized by the Federal Ministry for Economic Affairs and Climate Action and the Asia-Pacific Committee of German Business (APA). The conference was led by Federal Minister for Economic Affairs Dr. Robert Habeck and APA Chairman and Siemens AG CEO Dr. Roland Busch. The OAV, as an APA supporting association, was one of the co-organizers.

Before an audience of 750 participants from business and politics, topics such as technological trends in industry, sustainability, economic security, and resource security were discussed. In a session on the theme of "Future AI," Asian start-ups presented their offerings and ideas through pitches, with the opportunity to win a prize. The accompanying program included a hockey series between the national teams of India and Germany.

A key takeaway from the various thematic discussions was the ongoing need to strike a balanced approach between mitigating complex geopolitical risks and seizing future business opportunities. The latter, as unanimously agreed by business representatives, remain abundant in the region and should be pursued with determination, creativity, and foresight. The realization of these opportunities hinges on consistent German-Asian cooperation, with Germany needing to further enhance its innovation capacity. At the conclusion of the conference, Seoul was announced as the host city for APK 2026.

The choice of New Delhi as the conference location was a deliberate decision to leverage the dynamic momentum currently present in German-Indian economic relations and to further promote the diversification of supply chains, production sites, and markets. In this context, the 7th edition of the Indo-German Intergovernmental Consultations, established in 2011, was also held under the motto "Growing Together – Innovative, Mobile, and Sustainable."

Alongside Chancellor Scholz, several German cabinet ministers participated in discussions with their Indian counterparts. These consultations focused on areas such as technology and innovation, employment and skilled labor, migration and mobility, climate protection, and defense cooperation. The agreements aim to provide a roadmap for strategic bilateral collaboration over the next two years. Among other initiatives, an "Indo-German Green Hydrogen Roadmap" was adopted, which seeks to make green hydrogen economically viable and to support global production and trade of green hydrogen.