New Delhi: Upbeat on the second fastest
growing economy in the world, about 1,000 German firms may
invest in India in the next five years, the head of
Baden-Wurttemberg, regarded as the most successful German
state, said on Tuesday.
"I am sure, in next five years 1,000 more companies from
Germany and may be 200 from our state would be interested in
investing in India," Guenther H Oettinger, the Minister-
President of State of Baden-Wuerttemberg (Germany) said here.
About 1,800 German firms, including Porsche, Siemens,
BMW, Voith and Audi have already invested in India which is
being seen as the potential German manufacturing hub for the
Asian market.
Indian industry and workers match the quality of Europe's
and North America's, Oettinger said at the CII meeting.
With over six per cent expansion, the Indian economy is
the second fastest growing after China despite global
recession.
German Ambassador to India Thomas Matussek also addressed
the meeting stating the India-German bilateral trade is
expected to touch USD 27 billion by 2014 from over USD 18
billion in 2008.
India's major exports to Germany include garments,
machinery and instruments, electronic goods and transport
equipment, while imports comprises machinery, iron and steel,
machine tools and organic chemicals.
Bureau Report
First Published: Wednesday, November 18, 2009, 00:35