Business Daily from THE HINDU group of publications
Sunday, Nov 02, 2008
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Business Daily from THE HINDU group of publications Sunday, Nov 02, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Industry & Economy
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Foreign Trade Web Extras - Outlook German State opens representative office in Pune Our Bureau Pune, Nov 1 Rheinland-Pfalz became the second German State to open a representative office in India at Pune on Saturday, following on the heels of NordRheinland-Westfalen, which inaugurated its representative office here recently. A joint project between Investitions-und Strukturbank Rheinland-Pfalz (ISB) GmbH, the State’s central economic development organisation, and the Indo-German Chamber of Commerce, it aims to woo Indian investors to Germany and assist German companies to set up businesses here. Rheinland-Pfalz is home to global players like BASF, Daimler (trucks) and Opel. The foremost exporter in Germany with an export rate of 50 per cent, the State also produces two-thirds of Germany’s wine. Amongst the Indian companies with a presence there is the forgings major Bharat Forge Ltd. Mr Hans-Georg Schneider, head of department, Investment Promotion, Ministry of Economics, Transportation, Agriculture and Viniculture, said, “All the companies in our State are looking for this market to grow.”
He identified the automotive components sector as one of the important areas of interest. The other focus area will be viticulture, he said, adding, “This is our chance to promote German wines here.” Mr Bernhard Steinruecke, Director-General, IGCC, said companies would have access to the vast IGCC network in India through the representative office. Currently, about 1,800 German companies, including nearly 50 from Rheinland-Pfalz, have a presence in India as subsidiaries, joint ventures JVs or partnerships. Of these, nearly 200 are in the Pune region. More Stories on : Foreign Trade | Outlook
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