President of IGCC urges German companies in India to increase collaboration

By admin October 31, 2013 10:48 am IST

Dr. Armin Bruck, Managing Director and Chief Executive Officer, Siemens Ltd., who has been elected as the President of Indo-German Chamber of Commerce (IGCC) for 2013-14, has called upon German companies in India to increase collaboration.
Dr. Bruck commented, “India has all the vital factors that can make it a global manufacturing and innovation hub. Together with a growing educated middle-class, regular inflow of qualified engineering talent and a steadily growing industrial landscape, India’s domestic market provides the perfect launching pad for innovation.”
With world-class technical expertise and competence, German companies have helped corporates and governments in India to meet the growing demands for innovative and sustainable technology solutions in the areas of energy, industry, healthcare, infrastructure, urban development, transportation and logistics, among others.

“For German companies who aim to develop a footprint in India and also for Indian companies who seek technology partnerships with German companies, the IGCC offers a great business platform. We want to build stronger partnerships, and contribute to innovation and sustainability here in India. Partnership, innovation and sustainability – these three principles are central to our work,” added Dr. Bruck.
At present, there are over 500 Indo-German joint ventures, including technical and financial, operational in India. 1,623 financial collaborations have been approved for Germany since 1991 (7.8 per cent) of a total of 20,768 for all countries. 1,117 technical collaborations (13.7 per cent) of Germany have been approved out of a total 8,151 for all countries since liberalisation. Together, German companies in India employ over 173,000 employees and have nearly 150 manufacturing and R&D centres.
Dr. Bruck was elected as the President of IGCC for one year at the 57th Annual General Meeting of the IGCC on September 22, 2013.
According to the IGCC Business Monitor 2013 survey, this year, German businesses foresee a steady, moderate continuation of their investment activity.