Germany exhorts Indian firms for more investments

NEW DELHI: Germany has laid out the "red carpet" for Indian firms, underlining their potential for investments in the European nation, German Ambassador Martin Ney said here.

"German companies alone have invested a total of 9.7 billion Euros in India since 2000. If we compare this number to Indian investments in Germany one conclusion becomes quite clear. There is still some potential the other way round," Ney said while addressing an event yesterday.

"That is why the new federal states of the Eastern region of Germany and the Embassy have laid out the red carpet," he said.


Germany's economic development agency held roadshows in India to attract the country's businesses to invest in ICT clusters in the Eastern part of the European nation.

The Germany Trade & Invest has held roadshows in Mumbai, Bengaluru and Delhi, eyeing investments from Indian companies, especially those belonging to the information and communications technology (ICT) sector.

"We have for example German companies well established in manufacturing but they have huge difficulty to adapt to the digital agenda.. There is a good fit between established manufacturers in Germany, many of them SMEs, and ICT companies in India," Germany Trade and Invest CEO Jurgen Friednich said. He was also speaking at the event.

Friednich said around 150 companies participated in the roadshows on opportunities in East Germany ICT clusters across Mumbai, Bengaluru and Delhi.