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This week's edition takes a look at involvement of European businesses and organisations in the newly opened metro line in Bengaluru, Germany’s AEG’s strategic partnership with a local player, and more must-know news.
Coming soon: our next guest article! Fellow Riser Adithya Nataraj Ramalingam, a seasoned expert and long-standing contributor to the green hydrogen sector in both Germany and India, will share insights on “Green Hydrogen: Unlocking India–Germany Synergy in the Global Energy Transition” with us.
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Rise of the Week: Europe’s Involvement in Bengaluru’s Newly Opened Metro Line
Bengaluru is known for its notorious traffic jams. In order to improve commuting times between residential zones and key employment hubs such as Bengaluru’s famous tech parks, major public infrastructure developments had been initiated to counter the city’s rapid urbanisation. After 8 years of development involving significant European expertise and financing, The Yellow Line of Bengaluru’s metro system began operations.
Image source: Alden Maben via Unsplash (2025) - representation of Bengaluru metros only
On Sunday August 10th, Prime Minister Modi inaugurated Bengaluru’s new metro line which started operations the following day. Bengaluru’s metro development is one of many examples of India’s ongoing infrastructure push (USD 1.723 Trillion on infrastructure between FY24 and FY30 - find details in issue 15) that we have frequently highlighted, and showcases the immense opportunity for European businesses and organisations in the country.
And the timing couldn’t be more critical. Since the start of the project, Bengaluru’s population has grown by more than 40% to around 14 million today and is in eager need for infrastructural support. The new line will help ease traffic issues in “India’s Silicon Valley” by facilitating daily commutes to the city’s tech hubs, on top of saving 1.4 million tons of CO2 emissions annually and reducing toxic gases.
The following European businesses and organisations played key roles in financing and executing the Yellow Line:
Country | Sector | Organisation | Details |
|---|---|---|---|
Germany | Financial Institutions | KfW Development Bank | Lead financier with EUR 340 million loan on behalf of German Federal Ministry for Economic Cooperation and Development (BMZ) |
Railway Technology | Siemens AG | ||
Tunneling Technology | Herrenknecht AG | ||
Railway Consulting | DB Engineering & Consulting | ||
France | Financial Institutions | Agence Française de Développement (AFD) | Co-Financing |
Railway Systems Engineering | SYSTRA | JV with DB | |
Luxembourg | Financial Institutions | European Investment Bank (EIB) | Co-Financing |
Switzerland | Electric Systems | Linxon | |
Elevator Systems | Schindler | ||
Italy | Health & Safety | Italcertifer |
Similar contributions and opportunities are actively pursued in other metropolitan areas all over India, including India’s bullet train projects. Infrastructure has always been the foundation of economic transformation in developing economies, and India’s substantial commitments hint that European businesses across all sectors have a narrow window of opportunity to position themselves in the fastest growing major economy.
Sources: New Indian Express, KfW Development Bank, Herrenknecht, Siemens, DB, Linxon, EQS, Times Property
What Else is Rising?
Germany’s AEG Secures Strategic Partnership
As global energy markets become increasingly interconnected, India's ambitious clean energy transition is creating lucrative opportunities for European technology companies. German power systems specialist AEG Power Solutions has secured an exclusive licensing deal that positions it at the heart of India's emerging green hydrogen sector.
Our partnership with Statcon Energiaa represents a significant milestone in advancing the global energy transition. By combining AEG PS’s cutting-edge rectifier technology with Statcon Energiaa’s local expertise, we are enabling scalable and sustainable hydrogen production in India.
AEG Power Solutions, a German leader in critical power solutions, has signed signed an exclusive license-and-supply agreement with Indian manufacturer Statcon Energiaa for rectifier systems used in green hydrogen electrolysers. These rectifier systems are essential components that convert AC power to the precise DC power required for hydrogen production, making them critical infrastructure in any green hydrogen operation.
Statcon Energiaa brings significant domestic manufacturing capabilities and established relationships within India's energy sector, positioning the partnership to scale rapidly as demand accelerates. For AEG, the agreement provides immediate access to India's expanding green hydrogen market without the complexity of establishing local manufacturing from scratch.
Why this matters? The upcoming guest article by our fellow Riser Adithya Nataraj Ramalingam will provide comprehensive insights on the market and the potential between Germany and India to partner more closely.
Sources: PV Magazine
What the Upcoming India-EU FTA Means for Stellantis’ Scaling Plans
European companies are adjusting their India market strategies in anticipation of the upcoming India-EU Free Trade Agreement. Stellantis, the multinational automaker behind brands including Fiat, Jeep, and Citroën, has announced plans that signal a broader shift in how European businesses approach the Indian market.
An India-EU FTA will work for both as we can export more India-made cars and also bring in some of the products from global, test the market, and then focus on localizing them if they work. Also, it can become an export opportunity for Indian components as they can be shipped to countries where we will be manufacturing.
India is the third largest automotive market globally, and European carmakers have struggled to gain market share against its Japanese, Korean, and domestic competitors.
Stellantis’ experience reflects this broader patter. The company has invested over INR 11,000 Crore (around EUR 1.2 billion) and operates three manufacturing sites in the country, yet has only sold 7,500 cars domestically last year. However, the company has found success in exporting make-in-India Citroën to the ASEAN countries, Egypt, and South Africa.
The just announced strategy update puts the upcoming India-EU FTA, and its regulatory easements, at the center:
Test and verify: In order to tackle the complexity of the market, Stellantis does now plan to test and verify global products in India before actually manufacturing them for the local market.
Export opportunity: India could become an integral part of Stellantis’ global supply chain by exporting key automotive components.
The pending India-EU Free Trade Agreement underpins this strategic shift. Expected tariff reductions would enable more efficient movement of components between European and Indian facilities, while making India-manufactured products more competitive for export.
It’s important to understand the sentiment around the FTA. It reflects European companies' recognition that India's market complexity requires careful preparation, but that the upcoming FTA might create conditions for more integrated and profitable operations across multiple sectors. A sentiment European businesses such as Germany headquartered ones do share as well (reported in issue 14), according to Stefan Halusa of the German-Chamber of Commerce.
Sources: The Economic Times
Quick Risers
German insurer ERGO announced a EUR 130 million investment at its GCC in Mumbai to drive Generative AI developments. (Source: GCC Rise)
US tech company IBM just opened an Agentic AI Innovation Centre at its Bengaluru GCC. (Source: Analytics Iindia Magazine)
India’s Reliance Jio is now the world’s largest telecommunications company serving over 480 million subscribers. (Source: The Economic Times)
US life science company Agilent recently inaugurated its new GCC in Manesar to drive R&D globally. (Source: eHealth)
IKEA opened its first store in Delhi, the next step of the Swedish retailer’s omnichannel strategy in India. (Source: Hindustan Times)
S&P Global upgraded India’s credit rating to ‘BBB’ from ‘BBB-’. (Source: The Economic Times)
Spotlight: Guest Article by Adithya Nataraj Ramalingam
Next guest article incoming: "Green Hydrogen: Unlocking India–Germany Synergy in the Global Energy Transition" by Adithya Nataraj Ramalingam.
Image: Adithya Nataraj Ramalingam (2025)
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Curiosity Corner
Your random facts and stories about India and the Indo-European friendship.
This week: the history of India’s first and oldest metro line: Kolkata Metro.
Kolkata Metro, launched on October 24th, 1984 with a 3.40km stretch between Esplanade and Bhowanipore, is India’s first and oldest metro. It was built through the 1970s-1990s into a north-south spine and later expanded into a multi-line network under Indian Railways.
European ties exist: a British-led underground proposal for Calcutta in the early 1900s foreshadowed the system, and in recent decades European firms, most notably German technology company Siemens, have supplied electrification and signalling on new corridors, while the city delivered India’s first under-river metro section beneath the Hooghly on the East–West line.
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