German Electronic Industry asked to Invest in India

Source: india.com

Communications and Information Technology Minister Ravi Shankar Prasad invited the electronic industry in German to invest in India as he conveyed Prime Minister Narendra Modi‘s vision of a “Digital India” to German business leaders during his week-long visit to the European powerhouse.

The minister, in his address to the representatives of Zentralverband Elektrotechnik- und Elektronikindustrie (ZVEI), the apex association of electronics in Germany, and leading German electronics companies about the “make in India” policy of the new government and invited German companies to avail its benefits, the Consulate General of India, Frankfurt, said in a press release.

He emphasised on the need to have “speed, scale and skill” in manufacturing in order to be competitive and successful in the market. Patricia Solaro, senior ZVEI board member, welcomed India’s participation as the partner country at Hannover Fair 2015 and assured cooperation of German electronics industry at the upcoming fair.

Solaro commended the new manufacturing policy initiatives of the new government of India in the Electronic System Design and Manufacturing (ESDM) sector and assured to create awareness among the leading German electronics companies in this regard.  The German companies that attended the reception for the minister and the Indian delegation in Frankfurt included Siemens AG, Merck KgaA and ABB AG.

The Indian delegation also had meetings with Nokia, DKE/VDE, TUV, Heinen & Löwenstein and Bosch Sep 19 in Frankfurt. The meetings with DKE/VDE, Heinen & Löwenstein and Bosch were particularly fruitful and promising for investment in India.  Bosch representatives urged minister Ravi Shankar Prasad to include new R&D sector as well while creating new electronic manufacturing clusters in India with the help of foreign investors, while the minister asked the company to produce semi-conductors in India.

Bosch was asked to submit a concrete proposal that should not only be Bosch-intensive but focused on how India could do well in the sector and utilise manpower skills of the country.  The minister also addressed a session of the India Business Forum (IBF), Frankfurt Sept 19. The IBF, which has over 200 members, was set up by the Consulate General of India, Frankfurt, in 2013 to bring Indian professionals, businessmen and entrepreneurs on a common platform.

The minister while addressing the IBF community comprising representatives of prominent Indian companies such as TCS, Infosys, Wipro and HCL, gave an overview of the policy initiatives and priorities of his government. He also interacted with the IBF members to address their queries with regard to the policies of his ministry.

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