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Germany to Support Mittlestand (SMEs) investment in India
Embassy of India
Berlin
Press Release
Germany to support Mittelstand (SMEs) investment in India
The State Secretary for Economics & Energy Mr. Matthias Machning today said at the Annual Meeting of the Indo-German Chamber of Commerce (IGCC) in Dusseldorf that the Government of Germany was fully supportive of the Make In India Mittelstand(MIIM) Programme of the Embassy of India, Berlin to bring new medium size German companies to invest in India. In response to the suggestion by Ambassador of India to Germany Gurjit Singh, the State Secretary said that infrastructure, including Railways and Smart Cities would be a major focus of the new economic engagement between India and Germany. Ambassador Gurjit Singh while thanking the Government of Germany for their new investment designs added that German companies could participate in Make in India Mittelstand, Smart Cities, Digital India and similar investment programmes with the support of development finance offered by Germany.
Ambassador Singh also emphasised the need for Germany to look at India as an innovation hub focussing on R&D Centres and encouraging start-ups, particularly keeping in view Digital India and Start-Up India initiatives of Government of India. This would be the best way to connect the Industry 4.0 programme of Germany with opportunities in India.
State Secretary Machning strongly supported this suggestion and said that both German large and medium companies should follow this suggestion so that German manufacturing in India becomes more efficient through the inclusion of advanced technology and services.
On the occasion of the 60th anniversary of Indo-German Chamber of Commerce (IGCC), a positive note was set by members of the Chamber, who expressed positive appreciation of the business environment in India and indicated steady growth of German investments in India. Several CEOs of German companies established in India, spoke about their positive experiences and encouraged new companies to join them. A special publication of the Embassy of India aimed at bringing a new perspective of India to the German minds was presented on the occasion.
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