Germany likely to discuss role in DMIC with PM
Updated: Apr 06, 2013 03:47:05pm
New Delhi, Apr 6 (KNN) Germany is expected to take up with Prime Minister Manmohan Singh its interest in participating in the ambitious Delhi-Mumbai Industrial Corridor (DMIC) which could act as a gateway for several German firms, including technology-driven SMEs into India.
Delhi-Mumbai Industrial Corridor is a mega infra-structure project of USD 90 billion with financial and technical aids from Japan, covering an overall length of 1483 KMs between the political capital and the business capital of India, i.e. Delhi and Mumbai.
Germany is likely to show its interest during Prime Minister Manmohan Singh’s forthcoming visit to Berlin on April 10, where he will be holding an inter-governmental consultation with Chancellor Angela Merkel.
The Germany's Mittelstand companies (Small and Medium Enterprises) are a very important part of the country's economy and they contribute 50 per cent to the country’s GDP and employ about 70 per cent of the country’s workforce. The strengths of German SMEs include the swift realization of marketable products, an international focus, a high degree of specialization and the ability to successfully claim niche positions in the market.
It is expected that if Germany becomes a partner in DMIC, this could act as a gateway for several German firms to enter the Indian market and set up its several manufacturing units in India.
Germany, is believed to be keen on participating in the Chennai-Bangalore industrial clusters.
German products are known for quality and reliability and Indian companies are likely to learn from their expertise. Further the country will have access to international quality products, at a lower cost.
German companies in India today employ 173,000 people directly and another 300,000 indirectly by way of exclusive agents, suppliers, franchisees and vendors. The partnership could create more job opportunities.
India and Germany are likely to sign several pacts in areas including renewable energy, trade, infrastructure and education during Prime Minister's visit to Berlin next week.
They are also expected to talk about a green corridor - the non-conventional energy route for which they will set up a fund of up to Euro one billion credit fund.
The first round of meetings was held in New Delhi in May 2011 during Chancellor Angela Merkel's visit. The prime minister had last visited Germany in December 2010.
Those accompanying him include External Affairs Minister Salman Khurshid, Commerce Minister Anand Sharma, Renewable Energy Minister Farooq Abdullah, Human Resource Development Minister M M Pallam Raju and Science and Technology Minister S Jaipal Reddy.
Germany is India's largest trading partner in Europe and bilateral trade with the country had registered an 18.4 per cent increase to touch 18.37 billion euro in 2011. Germany is also the 8th largest foreign direct investor in India. (KNN)
Delhi-Mumbai Industrial Corridor is a mega infra-structure project of USD 90 billion with financial and technical aids from Japan, covering an overall length of 1483 KMs between the political capital and the business capital of India, i.e. Delhi and Mumbai.
Germany is likely to show its interest during Prime Minister Manmohan Singh’s forthcoming visit to Berlin on April 10, where he will be holding an inter-governmental consultation with Chancellor Angela Merkel.
The Germany's Mittelstand companies (Small and Medium Enterprises) are a very important part of the country's economy and they contribute 50 per cent to the country’s GDP and employ about 70 per cent of the country’s workforce. The strengths of German SMEs include the swift realization of marketable products, an international focus, a high degree of specialization and the ability to successfully claim niche positions in the market.
It is expected that if Germany becomes a partner in DMIC, this could act as a gateway for several German firms to enter the Indian market and set up its several manufacturing units in India.
Germany, is believed to be keen on participating in the Chennai-Bangalore industrial clusters.
German products are known for quality and reliability and Indian companies are likely to learn from their expertise. Further the country will have access to international quality products, at a lower cost.
German companies in India today employ 173,000 people directly and another 300,000 indirectly by way of exclusive agents, suppliers, franchisees and vendors. The partnership could create more job opportunities.
India and Germany are likely to sign several pacts in areas including renewable energy, trade, infrastructure and education during Prime Minister's visit to Berlin next week.
They are also expected to talk about a green corridor - the non-conventional energy route for which they will set up a fund of up to Euro one billion credit fund.
The first round of meetings was held in New Delhi in May 2011 during Chancellor Angela Merkel's visit. The prime minister had last visited Germany in December 2010.
Those accompanying him include External Affairs Minister Salman Khurshid, Commerce Minister Anand Sharma, Renewable Energy Minister Farooq Abdullah, Human Resource Development Minister M M Pallam Raju and Science and Technology Minister S Jaipal Reddy.
Germany is India's largest trading partner in Europe and bilateral trade with the country had registered an 18.4 per cent increase to touch 18.37 billion euro in 2011. Germany is also the 8th largest foreign direct investor in India. (KNN)
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