Market Size, Infrastructure Draw Indian IT Companies to GermanyBy Germany Trade And Invest, PRNE
Saturday, February 5, 2011
NASSCOM India Leadership Forum 2011
BERLIN and MUMBAI, February 7, 2011 - Indian FDI stocks in Germany have nearly quadrupled since
2005. Almost half of all new investment projects are in the information
technology (IT) industry, including software and communications. Germany
Trade & Invest representatives will be at this year's National Association of
Software and Services in India (NASSCOM) conference in Mumbai, India, from
February 8-10, 2011.
"With the largest market in Europe and excellent economic
growth rates, we have witnessed a surge in investor interest from India,"
according to Peter Alltschekow, Managing Director of Marketing &
Communications and Director for Eastern Germany at Germany Trade & Invest.
Due to this spike in interest by Indian companies, Germany Trade & Invest is
increasing its presence at its existing Mumbai office this year.
Germany's information and communications technology (ICT)
industry is Europe's largest, with EUR 128 billion in revenue recorded in
2009. The federal government's announcement of its new ICT strategy -
Deutschland Digital 2015 - confirms its commitment to making Germany a top
location for ICT companies. The initiative seeks to increase research
activities in ICT-related fields and accelerate the commercialization of
research results. Cloud computing and Internet security are specifically
identified as focal points.
Richard Offermann, Director of Service Industries at Germany
Trade & Invest in Berlin: "Germany is the top high-tech investment location
in Europe, thanks to innovative companies, generous research funding and a
first-rate infrastructure. Cloud computing, mobile data services, embedded
security and shared service centers are especially on the rise."
Over 61 new investment projects by Indian companies have been
recorded between 2003 and 2009, overwhelmingly in IT, communications and
software. Nearly half - 43 percent - of the projects fall in these high-tech
industry segments. Over 255 Indian companies are currently present in
Germany, a figure expected to grow in 2011.
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.
Germany Trade & Invest Andreas Bilfinger Email: email@example.com T: +49(0)30-200099-173 F: +49(0)30-200099-111
Germany Trade & Invest, Andreas Bilfinger, Email: andreas.bilfinger at gtai.com, T: +49(0)30-200099-173, F: +49(0)30-200099-111
Tags: Berlin And Mumbai, February 7, Germany, Germany Trade and Invest, India