Arti Bali
New Delhi, Jan 9 (UNI) In a significant vote of confidence for India’s manufacturing ambitions, Germany’s 75-year-old Remmers Group has partnered with Indian coatings leader Teknovace in a Rs 300-crore joint venture, positioning India as a “global export hub for high-performance coatings” serving markets across Europe, Africa, and Southeast Asia.
The deal marks a strategic shift for the German industrial giant, which deliberately chose India over other international locations as rising costs squeeze European manufacturers. “The Indian market emerged as the most favorable option,” said Dirk Sieverding, CEO and owner of Remmers Group, citing India’s “entrepreneurial dynamism,” “strategic location,” and “stable trade relationships.”
The partnership comes amid an accelerating shift by European and American companies away from China-centric supply chains, with India emerging as a primary beneficiary.
Unlike typical foreign investments focused on India’s domestic market, this joint venture will use India as a manufacturing base to export globally, including back to Europe.
“This goes far beyond a financial investment,” Sieverding emphasised. “We’re building a long-term partnership with technology transfer, shared capital, and no exit pressure, a global manufacturing hub serving multiple continents.”
The announcement gains added significance as it coincides with union Commerce Minister Piyush Goyal’s visit to Brussels for critical FTA negotiations, underscoring the deepening India–EU economic corridor. The ministerial visit follows the resumption of FTA talks in June 2022 after a nine-year pause, as businesses on both sides recognize a transformative opportunity.
The Indo-German joint venture further crystallises India’s position as a global manufacturing hub serving Europe, Southeast Asia, Russia, the Middle East, and Africa.
Sieverding noted that the convergence of geopolitical shifts, economic disruption, and India’s unique advantages has created a distinctive moment for global expansion.
In an exclusive conversation with UNI, Sieverding said the collaboration was driven by Remmers Group’s desire to expand beyond Europe, where it has a 75-year legacy. He highlighted Teknovace’s entrepreneurial spirit, innovative technology, and rapid growth as key factors in the partnership, noting that the two companies complement each other technologically and strategically.
Rising manufacturing costs in Europe, diversification of supply chains away from China, and India’s democratic stability and strategic location have created what industry leaders describe as a generational opportunity to convert global uncertainty into sustained growth. Increased demand from Europe and the US has followed as buyers shift sourcing from China to India.
Pankaj Singh, Managing Director of Teknovace, emphasized the benefits of the partnership, including access to advanced European technologies, capital infusion, and international market exposure. “This is more than an investment; it’s a long-term partnership with no exit pressure, enabling us to accelerate growth and technology development,” he said.
Nikhil Mahapatra, Founder and Director of Teknovace, added that the venture would establish India as a global manufacturing hub as disruptions in China and unpredictability in other global markets have made India an attractive and reliable destination for international investment.
The joint venture also focuses on sustainability and innovation, including reducing CO₂ footprints, integrating sustainable raw materials, and strengthening R&D capabilities. Partnerships with global clients such as IKEA underscore the emphasis on high standards and eco-conscious practices.
With balanced diplomacy, shared democratic values, and strong trade relationships, India is increasingly viewed as a reliable manufacturing and investment destination, positioning both the country and the joint venture to convert global uncertainty into long-term growth.
