Success Echoes from the 1st Indo-German Mittelstand Business Summit
The 1st Indo-German Mittelstand (SME) Business Summit, held on June 8, 2021, served as a pivotal platform for experts to discuss globalization through digitalization, and delve into entry and expansion strategies into Indian and German markets from the perspective of Mittelstand companies. The summit, organized virtually due to the ongoing pandemic, was a collaborative effort between the Federation of Indian Chambers of Commerce & Industry (FICCI) in Germany and the German Association for Small and Medium-sized Enterprises (BVMW).
Highlights and Achievements:
Exploration of New Opportunities: One of the major focal points of the summit was to explore and grab the opportunities that the Indian market presents for German Mittelstand. The discussions revolved around four key areas of collaboration which include Artificial Intelligence & Digitalization, and Environmental Sustainability among others34.
Cross-Border Collaborations: The summit facilitated dialogue on fostering cross-border collaborations, thereby opening up new vistas for cooperation between the Mittelstand companies of both nations.
Expert Insights: The summit saw a congregation of experts who shared their views on how digitalization can act as a catalyst for globalization, and how Mittelstand companies can strategize their entry and expansion into the respective markets of India and Germany.
Networking: Even though the summit was held virtually, it provided an ample networking platform for stakeholders from both countries to interact, share insights, and discuss potential collaborations.
Policy Discourse: There was a significant emphasis on understanding and navigating the policy frameworks of both countries to facilitate smoother business transitions and operations.
The 1st Indo-German Mittelstand Business Summit not only underscored the potential for increased cooperation between German and Indian Mittelstand companies but also set the tone for future engagements and collaborations. The event highlighted the myriad possibilities that lie ahead for both nations in forging a strong business alliance, especially in the realms of digitalization and sustainability. The success of the summit reflects the mutual enthusiasm and readiness among the Mittelstand community to explore and seize the burgeoning opportunities in each other’s markets.
