Financial Daily from THE HINDU group of publications
Tuesday, Feb 17, 2004
Financial Daily from THE HINDU group of publications Tuesday, Feb 17, 2004 |
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Industry & Economy
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Foreign Trade Bavarian team keen to strengthen ties Our Bureau
Mr Edmund Stoiber, Minister President, Bavaria (right), and Mr K.N. Shenoy, past President-CII, at the Indo-Bavarian business meeting in Bangalore on Monday. — G.R.N. Somashekar
Bangalore , Feb. 16 A HIGH-LEVEL team from the German State of Bavaria is on a visit to India seeking to widen and consolidate its ties in various sectors. Dr Edmund Stoiber, Bavaria's Minister President and Leader of the German Opposition, who started his three-city visit from here as the head of a 60-member business delegation, invited collaborations in areas such as electronics, automotive, aerospace, biotechnology, environment, medical equipment, transport, ports and highways among others. Bavaria, the largest and economically strongest and hi-technology German State, he said, is home to Audi, BMW and Siemens and has added 1,000 new foreign companies in recent years. When the 15-nation European Union admits ten new members this May, Bavaria, Germany's technology Capital, would be the gateway to this market of 450 million people. The 28 universities and higher education centres can do well to have young Indian innovators, Dr Stoiber said. He was speaking at an Indo-Bavarian business meeting organised by the Confederation of Indian Industry. The team is visiting Delhi and Mumbai between February 18 and 21. The CII past President, Mr K.N.Shenoy, said over 100 Bavarian companies have set base in India including Siemens AG, Munich Re and Allianz. The investment promotion body GotoBavaria is based in Bangalore.
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