New Delhi: German companies have evinced interest towards investment in the high-tech market of India which is expected to be the highest performing country among the BRIC nations, according to a study.
The study conducted by the Indian embassy in Berlin in partnership with EY (Ernst & Young) found high market readiness in India for high-tech products. It noted that Indo-German collaboration in high-tech manufacturing can become an important part of the Make in India initiative.
Pointing towards a set of challenges that are impacting German companies' investment decisions, the study said India has strong IT and Space sector capabilities that German companies could benefit from.
It lauded recent initiatives taken by the government on FDI, ease of doing business and infrastructure, saying these can significantly impact the business environment in high-tech sectors.
"Indo-German collaboration in High-Tech manufacturing has the potential to favourably impact both economies," it said.
The roadmap suggested to boost engagement in high-tech manufacturing entails forging a transformative collaboration between the two countries in manufacturing technologies that goes beyond buyer-seller cooperation.
"A (German) industry delegation would visit India in November 2015 to promote the Make in India drive in areas of automobiles, renewable energy, bio-tech and other MSME segments," Dr. Corinna Fricke, Minister Counselor, Head of the Economic and Commercial Division, Embassy of Germany, said at a Ficci conference.
She added that the bilateral relations between India and Germany had deepened and there was huge scope for cooperation for the two countries.
The study calls for promotion of joint and wholly owned ventures through strong industry linkages, R&D collaborations and skill development across a wide range of high-tech sectors.
The roadmap also recommends facilitating entry of German companies and their technologies to India across the high-tech sectors and to identify steps that can help create a favorable environment for High-Tech trade and collaborations.
It suggests initiating Indo-German high-tech partnership at the political level with the involvement of industry and other stakeholders and creation of appropriate political, administrative and economic instruments for high-tech trade.
