Minister highlights German expertise
Indian companies to invest in German State of Thuringia’s industries such as Optics, automotive and mechanical engineering.
The call was made by Wolfgang Tiefensee, Minister of Economic Affairs, Science and Digital Society of the German State of Thuringia, on 11 Feb 2019.
He urged the Indian industries to position Thuringia on its business and investment radar and reap the advantages that the state had to offer.
Addressing Indian industry representatives in New Delhi, Tiefensee said that Thuringia lies at the heart of Europe.
It is home to an optics industry that leads the world, an automotive industry that boasts of global players such as Daimler, Opel/PSA, Magna, Bosch, BMW or Borg Warner and offers excellent conditions in mechanical engineering for generating innovations and launching internationally successful products and technologies.
The Thuringian Minister aid that the state has a high density of scientific institutions where investors and companies will find a conducive environment for innovation.
About 10,000 scientists are doing research in the state at more than 40 institutes and universities in close cooperation with businesses, he added.
The interaction with the visiting minister was organised by the Federation of Indian Chambers of Commerce and Industry (FICCI).
On the occasion, an MoU was signed between Thuringian Manufacturer Gramme-Revit and Indian distributor WB for a new food supplement against arthritis, named ‘DuoVital’.
Dr Jasper Weick, Charge de’ Affairs, Embassy of Germany in India, said that India and Germany were dynamic free market economies with the two-way trade rising by 10% in 2017 and is expected to do even better in 2018.
Investments in both directions were thriving and close to 1,700 German companies were doing business with and out of India.
Rakesh Bakshi, Senior Executive Committee member, FICCI and Chairman & MD, RRB Energy Ltd, noted that Thuringia was known the world over for its medical technologies, expertise in mechanical engineering and the automotive sector and was fast emerging hub for climate change mitigation technologies.
India, he said, can ill afford to ignore German advances in technology, just as Germany can benefit from India’s large market. fiinews.com
