The CEOs of Volkswagen and Mercedes, Oliver Blume and Ola Källenius, welcomed the trade agreement between India and the EU, which also includes a phased reduction of automotive tariffs.
Speaking to the news channel “Welt” on Tuesday, Mercedes boss Källenius said, “This is very good news for the EU, for Germany and for India. If we can strengthen trade relations with this rapidly growing economy, it will also support the German export industry. I think this is the best news of the day”.
Källenius pointed out that Mercedes has been investing in India’s growth market for some time. “We are already engaged in research and development there as well as production, and we have grown rapidly in recent years. If the market opens up even further, we have the opportunity to expand our footprint even more”.
Volkswagen’s CEO, Oliver Blume, likewise welcomed the agreement. On “Welt”, he remarked, “We see this positively. Volkswagen is a globally operating company. We support every initiative for trade agreements in the regions of the world. India is now the world’s third‑largest automotive market. We will now carefully examine the details of the trade deal. India is very dynamic in its development, and therefore there are opportunities for Volkswagen there”.
