A Milestone of Cooperation: The Partnership between BVMW and Nasscom

 A Milestone of Cooperation: The Partnership between BVMW and Nasscom

The collaboration between the German Association for Small and Medium-sized Businesses (BVMW) and the National Association of Software and Service Companies (Nasscom) from India marks a significant milestone in fostering bilateral trade and business relations between the two nations. On June 1, 2022, the two associations signed a Memorandum of Understanding (MoU), setting the stage for deepened cooperation.

The objective of the Partnership:

The partnership aims to promote economic relations between India and Germany, particularly expanding the bilateral trade and business relations between Indian IT companies and German small and medium-sized enterprises (SMEs)​. Within the framework of this collaboration, the associations plan to actively promote investments, joint ventures, and the exchange of business delegations. Moreover, they plan to jointly organize activities such as seminars, conferences, and trade fair exhibitions in both countries. The goal is to create strong links between both organizations in digital technologies, enabling German and Indian companies to expand their digital business in the partner country.

Significance of the Partnership:

The signing of the MoU was assessed as an important step towards a sustainable relationship between German SMEs and the Indian IT sector, emphasizing a strong win-win partnership at eye level​. The strategic collaboration will facilitate the development of mutually beneficial relationships by enabling cross-sharing of non-confidential information.

Enriching Interactions:

The partnership was formalized during an event at Hannover Messe 2022, which underscored the great advantage of cooperation between Germany and India in the realm of digital transformation. The event provided a platform for exchange among German and Indian businesspeople, associations, and academic institutions to bring innovative products and solutions to the global market. It was highlighted that German and Indian companies can learn from and complement each other to drive innovation together and bring it to the global market​.

The collaboration between BVMW and Nasscom exemplifies successful international cooperation aiming at leveraging the strengths and resources of both nations to achieve common goals and create a win-win situation beneficial for both the German and Indian economies.