New Delhi [India], January 7 : The global head of cultural engagement at BMW Group, Thomas Girst has expressed his optimism for India's growth. He highlighted the growing international interest in India's potential and the unique role companies like BMW can play in its journey, Khalsa Vox reported.
He made the remarks during his participation in the 2024 India Art Fair. He said, "We're cheering from the sidelines for this giant to rise even more," according to Khalsa Vox report.
India Art Fair, organised by Angus Montgomery Arts, featuring major artists, galleries, and institutions from prominent developed countries was held in Delhi from February 1-4.
Speaking about the commercial opportunities presented by India, he stressed BMW's deeper engagement with the country. He stated that BMW's sponsorship of the art fair showcases a long-standing commitment to cultural initiatives, spanning over 50 years.
Thomas Girst said he considers art a powerful tool for dialogue, promoting critical thinking and social engagement. He called these qualities crucial for a thriving democracy like India.
He spoke about the significant gap between BMW's current sales in India and the country's vast population, hinting at immense potential for future growth. BMW's decision to develop a manufacturing plant in Chennai in 2007 reflects this belief.
He considers India not just as a market but also as a source of inspiration, collaborating with young artists like Shashikanth Thavudoz to infuse their vehicles with local flavour. He also acknowledged the inherent tension that exists between corporate social responsibility and profit generation.
Girst noted that BMW's cultural initiatives benefit the art scene and contribute to brand image and reputation. He considers this a mutually beneficial relationship where art enhances the brand while the company gives resources and exposure to artists, according to Khalsa Vox report.
He called on India to further invest in contemporary art, recognizing its critical and political potential. He thinks that a vibrant art scene fosters innovation and social progress, qualities that can propel India's rise on the global stage, Khalsa Vox reported.
Recently, the International Monetary Fund (IMF) in its growth forecast for 2024, predicted that India will emerge as the fastest-growing economy yet again with a robust growth of 6.5 per cent.
On the other hand, other major economies will be showing modest growth. As per the report, the US will grow at 2.1 per cent, Germany will grow at 0.5 per cent, France at 1 per cent, Japan at 0.9 per cent and China at 4.6 per cent.
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