The German State of Bavaria with its well-balanced economy offers considerable scope for investment by Indian companies in a spectrum of areas.
Given its central location and the quick and easy access to the whole of Europe, Bavaria could be a springboard to cater to nearly half a million consumers across many countries. This fact has not missed the attention of Indian companies as many of them have established a base there.
According to John Kottayil, Executive Director, State of Bavaria India Office, here, “There are more than 400 Bavarian and Indian joint ventures.”
Addressing a meeting organised by the Bangalore Chamber of Industry and Commerce (BCIC) here on Wednesday, he said the German State had signed a memorandum of understanding with Karnataka in 2007, which the two States followed up developing an action plan in 2009 to implement the intents. Though some of the well-known brands in various industries such as BMW, Audi, Siemens and Puma are from them, Bavaria is not just for big companies but also for lots of small and medium-sized companies, he said.
Automotive, financial services, pharmaceuticals and biotechnology, medical technology, ICT, financial services and media were some of the areas in Bavaria that offered considerable market potential. Managing Director of Infocore group Eshan Shariff, whose company is into product innovation for original equipment manufacturer such as Daimler, said Germany provides the right platform for innovation. Companies planning to invest in Germany would be better off taking the support of the network groups as there were lots of rules.
BCIC senior vice-president Anuj Sharma said India and Bavaria were keen to expand the bilateral ties.
