Commerce and Industry Minister Piyush Goyal announced on Saturday that a German chemical company is set to invest $1.5 billion in India, with a state already securing land for the project. While the minister withheld the company’s identity and the state’s name, he revealed that the company’s CEO is scheduled to meet with the state’s chief minister on Sunday. The company will soon receive land allocation and the country is expected to see a significant foreign direct investment inflow of $1.5 billion over the next year, Goyal stated during a session at the Union Internationale des Avocats (UIA) conference.
The company is seeking about 250 acres of land near a port for its operations. Germany ranks as the ninth-largest investor in India, with the country receiving approximately $15 billion in FDI between April 2000 and December 2024. Goyal emphasized that numerous businesses are increasingly exploring opportunities in India.
The minister also highlighted the government’s efforts to enhance the country’s business environment by easing compliance requirements and decriminalizing minor offenses. These reforms are fostering renewed confidence among investors, and the government is committed to addressing any legal barriers or unfair market practices, such as predatory pricing.
In discussing arbitration, Goyal pointed out its potential to reduce judicial delays, provided both parties are genuinely committed to accepting arbitration outcomes. He acknowledged concerns about the quality of arbitration and stressed the importance of ensuring fair and just proceedings, free from undue corporate influence.
He emphasized the need to strengthen the arbitration process to build confidence among all stakeholders. Furthermore, he advocated for greater use of arbitration and mediation in India’s business practices. According to Goyal, as India continues to grow and strengthen its manufacturing sector, effective dispute resolution will be essential in supporting the country’s ambition to become a global manufacturing hub.
