German auto industry targets investments from India
German automobiles are known worldwide. Now the industry is focusing on India’s enormous market. On 23 and 25 January, Germany Trade & Invest is hosting two investor events, the Indo-German Automotive Industry Forum, in New Delhi and Chennai to mark this window of opportunity for cooperation between the two countries.
In 2011, market share for German cars doubled and suppliers exported 53 percent more to India. In a sign that these trends are set to continue in 2012, Germany's industry made up the largest single country representation at New Delhi's Auto Expo at the beginning of January. At the same time, Germany's cutting-edge R&D and high standards for efficiency and quality make it an ideal partner for Indian suppliers and automakers.
Indian automotive companies are gaining momentum and notice around the world. With Tata's takeover of Jaguar and Land Rover as well as the company’s concept of an affordable electric vehicle introduced at the Detroit auto show, international markets are increasingly in focus for the country’s automakers.
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"Germany is an ideal destination for Indian companies because of its culture of innovation, outstanding infrastructure, and access to the entire European market. Especially the ingenuity found in eastern Germany makes the country attractive for potential partners from India," said Michael Pfeiffer, Chief Executive of Germany Trade & Invest.
In eastern Germany, Volkswagen, Mercedes, Porsche, BMW and Opel all operate modern factories that take advantage of the excellent infrastructure and well-trained workforce. This is also true for countless suppliers that joined the major manufacturers in these regions. Eastern Germany will be the focal point of the investor events next week. The industry forums mark Germany Trade & Invest’s first events as part of this year’s Germany & India: Infinite Opportunities celebrations.
"In 2010, Germany exported over nine billion euros in goods and services to India and imported more than six billion euros worth. At this point there are approximately 280 Indian companies with several thousand employees already active in Germany. There is definitely strong potential for growth in these areas and the automotive industry is an excellent place to start," continued Michael Pfeiffer.
