Spartan Sparsh Hoist Training Meet 2016
Tangible economic reforms and strong resolutions taking place under the present government would certainly place India on a major growth trajectory, said Dr Martin Ney, German Ambassador to India, while discussing Germany's contribution to "Make in India" and Indo-German economic relations at a Press Conference, reports S.K.Khanna.

Germany is India's second-largest bilateral partner with a record commitment of Rs.11,000 crore in the country said Dr Ney, adding that Indian PM's meeting with German Chancellor, Angela Markel, last year, it has opened up a new strategic economic phase with Germany committing upto Rs.12,600 crore towards sustainable urban development for improving living conditions in urban India. Germany- based companies have developed technologies that make cities more liveable and are committed to help India to make a success of its Smart Cities mission by providing cutting–edge technologies.

Germany is the seventh largest foreign investor in India with $8.64 billion worth Foreign Direct Investment (FDI), accounting for three percent of the total FDI of $288.6 billion during April 2000-March 2016.

While appreciating the "Make in India" campaign, he said that it has the potential of being a big game changer, but its prime focus should be on manufacturing quality products and rendering efficient services. "If India continued its focus only on meeting the demands of the domestic market, it would never produce goods and services of world-class standard," cautioned the Ambassador.

He added that major concerns of Germany's companies doing business in India are non-availability of land, high duties on goods, shortage of skilled manpower, absence of Investment Protection Agreement between India and the European Union, and impasse in the proposed India-EU Free Trade Agreement (FTA) negotiations etc, which need to be resolved to take the Indo-German economic cooperation to a new exciting phase.

Delivering a technical presentation on VDMA (Verband Deutscher Maschinen–und) Anlagenba, German Engineering Federation, President, Dr Reinhold Festge informed that VDMA founded in 1892, is all set to celebrate its 125th anniversary next year. VDMA is Europe's largest industrial network with more than 3,150 member companies, representing around one million jobs. VDMA opened its first office in India way back in 2000, its second outpost in a foreign country after Japan. Many Germany–based mechanical engineering companies have increased their commitments in India significantly in the last ten years. Around 550 VDMA, member companies are largely represented in various Indian regions. Direct investment in India by the German mechanical engineering sector is €800 million. Germany's mechanical and plant engineering sector believes in India's potential. VDMA welcomes the Indian government's efforts to significantly increase the share of its industry in the economy and create an environment that encourages investment as India continues to be a large market for Germany's mechanical and plant engineering products and services.

Indo German Economic Relations

Speaking about the 'Make in India' campaign, he said that as India intends to expand and modernize industrial production and improve the infrastructure, modern German machinery products could help India to make giant leaps forward by way of higher productivity and more efficient operations.

Welcoming GST, he said that its fast implementation would bring about simpler processing procedures and create a harmonized market in India, with lower production costs will give further boost to the economy.

In his concluding remarks, Dr. Festge said, "there is a lot of potential for Indo-German cooperation to further improve India's economic relations with Germany's mechanical engineering industry as India was the most important market for us."
Click Here
To Know More or to Contact the Manufacturer
Please let us know your name.
Invalid Input
Please let us know your Designation.
Please let us know your Contact Number.
Please let us know your email address.
Please brief your query.
Our other Value-Added Services:

To receive updates through e-mail on Products, New Technologies & Equipment, please select the Product Category(s) you are interested in and click 'Submit'. This will help you save time plus you will get the best price quotations from many manufacturers, which you can then evaluate and negotiate.

Invalid Input
Invalid Input
Invalid Input
The 2nd edition of India’s conference on CVF Off Highway held at Eros Hotel, Nehru Place, New Delhi, brought together senior professionals from the construction, mining, earthmoving, tractor, and agriculture equipment industry

Read more ...

ICEMA organizes 3rd Finance Conclave to tackle financing issues faced by Construction Equipment buyers for taking up infra development projects. ICEMA’s third annual conclave was held on 15th March’22 at Hotel Taj President

Read more ...

Sharp Ply commemorated its completion of 21 years as a leader in the formwork industry with a grand celebration at Sakleshpur, Karnataka in March 2022. Guests and team members from Hyderabad, Chennai, Surat, Raipur, Vijayawada, Delhi

Read more ...

ICEMA organizes 3rd Finance Conclave to tackle financing issues faced by Construction Equipment buyers for taking up infra development projects. ICEMA's third annual conclave was held on 15th March '22 at Hotel Taj President in Mumbai

Read more ...

The Construction Equipment Rental industry is changing fast, and to stay relevant, rental companies will have to reinvent, consolidate, and find new avenues for growth. This was the focus of discussions at CERA’s virtual workshop on

Read more ...

Sandvik Mining and Rock Technology India was awarded the CSR Leadership Award for its efforts in 'Environment Conservation' at the 10th India CSR Awards in Bengaluru on 10th December 2021. The award was received by Ravi Arora, Marketing and CSR head from

Read more ...

The Japan-India Institute for Manufacturing (JIM) is the outcome of India’s and Japan’s commitment towards the ‘Manufacturing Skill Transfer Promotion Programme’. Through JIM and another project titled ‘Japan Endowed Courses (JEC), 30,000 candidates

Read more ...

Ferrocement Society India is promoting the ‘magical’ ferrocement technology for the last 13 years and has since organized 6 national conventions. The 6th Convention was held in Pune during 12-14 November 2021 at Firodiya Auditorium

Read more ...

The first international press conference of 2023 Changsha International Construction Equipment Exhibition (CICEE) took place in Shanghai during the China International Import Expo. Representatives from 64 domestic media and more than 10 international media

Read more ...

The KVMRT Putrajaya Line project has recently been recognised by three prestigious industry awards, namely: the Major Project of the Year (with a budget of over 500 million Euros) at the ITA Tunnelling Awards 2021, hosted virtually by the International

Read more ...

Rex Fuels in association with CSIR-CRRI organised a National Conference on Bitumen & Road Sector with the theme ‘New Technologies for Better Roads’ on 25th November 2021 at Taj Palace, New Delhi. The event, which saw over

Read more ...

As humanity reeled under the onslaught of Covid-19 and the resultant uncertainty, the world applauded the millions of essential services workers who toiled tirelessly at great risk to their personal health

Read more ...

Despite the pandemic, Changsha International Construction Equipment Exhibition (CICEE 2021) became a huge success with 1,450 exhibitors showcasing their products and technologies on an exhibit area

Read more ...

In an online event, GHH India along with its mining contracting subsidiary, GHH Bumi Mining Service, was awarded ‘Best Performing Business Partner’ by Vedanta Group/Hindustan Zinc Ltd (HZL)

Read more ...

In order to fully implement General Secretary Xi Jinping’s instruction on "building Hunan into a nationally advanced, important highland of manufacturing industry" during his inspection of the Hunan province

Read more ...

Over the years, the IEE Expo has positioned itself strongly as a networking and sourcing platform for elevator and escalator industry professionals, and where buyers can witness the latest technologies and conveniences

Read more ...

Government of India’s ambitious ₹111 lakh crore National Infrastructure Pipeline (NIP), which has already been announced and actioned upon, augurs very well for enabling sectors such as the Indian Construction Equipment

Read more ...

bauma CONEXPO INDIA - north India’s leading International Trade Fair for Construction Machinery, Building Material Machines, Mining Machines and Construction Vehicles - has been rescheduled from 3-6 November 2020

Read more ...

INTRALOGISTICA ITALIA is the only exhibition with a comprehensive offer dedicated to the most innovative solutions and integrated systems for industrial handling, warehouse management, materials storage and picking

Read more ...

The Indian Concrete Institute, Goa Centre, in association with Ultratech Cement Limited organized the 9th ICI-Ultratech Awards Nite on 19th February 2020 at Hotel Fidalgo, Panjim Goa. The annual event was attended by nearly 250 invitees

Read more ...

×
Sign-up for Free Subscription
'India Construction Week'
Weekly e-Newsletter on Construction Industry
Get the latest news, product launches, projects announced / awarded, government policies, investments, and expert views.