Innovative Indian Companies Drawn to Eastern GermanyBy Germany Trade And Invest, PRNE
Monday, November 29, 2010
BERLIN and MUMBAI, December 1, 2010 - The number of Indian investors in Germany continues to rise,
with 255 Indian companies active in Germany today. Most recently, Kalyani
subsidiary Kenersys inaugurated its wind turbine production plant in the
Eastern German state of Mecklenburg-Vorpommern. Generous incentives and low
costs have drawn high-tech Indian companies to Eastern Germany in recent
years. In order to meet the increasing interest by Indian companies, Germany
Trade & Invest is hosting two investor events on December 2 in Chennai and
December 4 in Mumbai to showcase the advantages of doing business in Europe's
Between 2005 and 2008, Indian FDI stocks in Germany nearly
quadrupled to EUR 310 million. In terms of greenfield and brownfield
investment projects, India is the third most important Asian investor in
Germany. Over 40 percent of these projects are in the information and
communications technology and software industry. The industries currently
flourishing in Eastern Germany - namely renewable energies, microelectronics,
machinery and equipment and the automotive industry - match with India's
current growth industries.
A highlight of the events will be a keynote address by P.
Natarajan, Managing Director of Sanmar Metals Corporation. He will share the
success of his iron foundry - Eisenwerk Erla, a specialized automotive
supplier - in the Eastern Germany Schwarzenberg. Representatives from the
federal state of Thuringia will also discuss opportunities with participants.
Michael Pfeiffer, Chief Executive of Germany Trade & Invest, will address
business representatives at both events.
Michael Pfeiffer: "Germany is currently experiencing one of
its strongest economic growth periods in the past twenty years. Business
confidence is at an all-time high. Indian companies are playing a part in
this boom and we gladly welcome newcomers. There has not been a better time
to invest in Germany, especially in the growth industries of Eastern
Indian investors in Germany represent a broad range of
industries in diverse regions of the country. Companies like the Kalyani
Group with its recently inaugurated wind turbine production plant in
Mecklenburg Vorpommern are a testament to Eastern Germany's attractiveness to
Eastern Germany stands out as an investment location as it
combines the benefits of Eastern and Western Europe. Eastern Germany provides
a stable investment environment and carries the weight of Europe's largest
economy. At the same time, labor costs remain approximately 30 percent less
than in western Germany and generous incentives are available for new and
existing businesses. Eastern Germany also offers affordable land and office
pricing, often cheaper than in India's cities.
Germany's transportation and communications infrastructure -
ranked first worldwide by the World Bank's 2010 Logistics Performance Index -
is a boon to Indian companies looking to reach the European market as well as
IT companies seeking a strong technological backbone. Investments by Jet
Airways (aerospace), Hexaware Technologies (software & IT services), Dabur
India (pharmaceuticals), and Ensoft Informatics Private (semiconductor
industry) confirm Germany's appeal.
Germany Trade & Invest is the foreign trade and inward
investment promotion agency of the Federal Republic of Germany. The
organization advises foreign companies looking to expand their business
activities in the German market. It provides information on foreign trade to
German companies that seek to enter foreign markets.
Contact: Germany Trade & Invest Robert Scheid Email: email@example.com T: +49(0)30-200099-170 F: +49(0)30-200099-111
Contact: Germany Trade & Invest, Robert Scheid, Email: robert.scheid at gtai.com, T: +49(0)30-200099-170, F: +49(0)30-200099-111
Tags: Berlin And Mumbai, December 1, Germany, Germany Trade and Invest, India