Business Daily from THE HINDU group of publications
Saturday, Feb 07, 2009
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Business Daily from THE HINDU group of publications Saturday, Feb 07, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Industry & Economy
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Automobiles Indo-German panel signs pact to boost ties in auto sector
Mr Sontosh Mohan Dev, Union Minister of Heavy Industries Our Bureau New Delhi, Feb. 6 The Indo-German Joint Working Group on Automotive Sector has signed a declaration of intent to deepen ties between the two countries in the automotive sector. This working group, which will include representatives from the German and Indian automobile industries, will particularly intensify Indo-German cooperation in the development of efficient automotive technologies and alternative fuels & drives. The declaration was signed between Mr Surajit Mitra, Additional Secretary and Chairman, Indian delegation, and Mr Wolfgang Hahn, Director-General, Strategic Planning and Chairman, German delegation, in the presence of Mr Sontosh Mohan Dev, Minister of Heavy Industry and Public Enterprises, and Mr Tiefensee, Minister Transport, Building and Urban Affairs, Germany. Addressing the inaugural meeting of the group, Mr Dev said, “The German auto industry has been hit hard by the global economic downturn and our auto sector is also not insulated. Therefore, this initiative between our countries is even more relevant and essential today.” He further added that during the downturn it is essential that auto companies maintain their tempo for R&D investments. In this context India is in a unique position of having twin advantages of possessing one of the largest pools of talented scientists, engineers and technicians in the world available at extremely competitive costs. During the deliberations, the Indo-German JWG on the automotive sector decided to form three working sub-groups for achieving the above objectives set by the JWG including technology group, institutional cooperation group and training and skill development group. More Stories on : Automobiles
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