MUMBAI: Governor Jishnu Dev Varma called for stronger economic, technological and innovation partnerships between Maharashtra and the German state of Hessen.He said the Mumbai-Frankfurt and Maharashtra-Hessen connect could open new opportunities for industry, investment, research and global trade.Varma was speaking at the Maharashtra-Hessen Economic & Technology Dialogue organised by PartexAI at NSE in Mumbai on Thursday. Minister President of the German state of Hessen Boris Rhein was present.Varma said Frankfurt is the financial heart of Germany and one of Europe’s leading financial centres, while Mumbai is India’s financial capital, home to its leading banks, capital markets, corporate headquarters and investment community.Varma described Maharashtra as India’s largest state economy. He said the state contributes around 13.5% of India’s national income, 15.5% of industrial output and approximately 15% of the country’s exports.Varma told the German delegates that between 2000 and 2025, Maharashtra attracted about 31% of all foreign direct investment entering India.Varma said Maharashtra offers a vast market, a diversified industrial base, capital, technology, talent, research institutions, infrastructure and global connectivity. He said the state’s population of around 130 million is greater than that of many countries in the world.He said Maharashtra has a large pool of engineers, doctors, technologists and skilled professionals who provide a strong foundation for international collaboration.Referring to the existing partnership between Maharashtra and Germany, Varma said Maharashtra and Baden-Württemberg have cooperated since 2015.Mumbai has emerged as a major centre for finance, fintech, logistics and international trade, while Pune is one of India’s foremost hubs for automotive manufacturing, engineering, IT and research.Varma noted that Maharashtra produces around 23% of India’s motor vehicles, with global companies including Mercedes-Benz, Volkswagen, Continental and Bosch already forming part of its industrial ecosystem.Rhein praised India’s revolution in the field of UPI transactions. He said Hessen has a 40,000-strong Indian community that is making an immense contribution to the state’s economy.Founder and CEO of PartexAI and co-founder Gaurav Tripathi shared their experience of working in Hessen.CEO of National Stock Exchange Ashish Chauhan also spoke on the occasion. Varma and Hessen’s Minister President Boris Rhein were given a tour of NSE.
