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Focus on strengthening IGCC as a business platform for collaboration, partnership and sustainability
Dr. Armin Bruck, Managing Director and Chief Executive Officer, Siemens Ltd., who has been elected as the President of Indo-German Chamber of Commerce (IGCC) for 2013-14, has called upon German companies in India to increase collaboration.
Dr. Bruck commented, "India has all the vital factors that can make it a global
manufacturing and innovation hub. Together with a growing educated middle-class,
regular inflow of qualified engineering talent and a steadily growing industrial landscape, India’s domestic market provides the perfect launching pad for innovation."
With the investment climate pointing to only a steady, moderate continuation of
investment activity (as indicated by the IGCC Business Monitor 2013 survey), the German corporate community are best placed to continue demonstrating their commitment to
India’s sustainable growth story only by leveraging each others’ strengths and underlying synergies.
With world-class technical expertise and competence, German companies have helped corporates and governments in India to meet the growing demands for innovative and sustainable technology solutions in the areas of energy, industry, healthcare,
infrastructure, urban development, transportation and logistics, among others.
"For German companies who aim to develop a footprint in India and also for Indian
companies who seek technology partnerships with German companies, the IGCC offers a great business platform. We want to build stronger partnerships, and contribute to
innovation and sustainability here in India. Partnership, innovation and sustainability - these three principles are central to our work," added Dr. Bruck. At present, there are over 500 Indo-German joint ventures, including technical and financial, operational in India. 1,623 financial collaborations have been approved for Germany since 1991 (7.8%) of a total of 20,768 for all countries. 1,117 technical collaborations (13.7%) of Germany have been approved out of a total 8,151 for all countries since liberalization. Together, German companies in India employ over 173,000 employees and have nearly 150 manufacturing and R&D centers.
Dr. Armin Bruck was elected as the President of IGCC for one year at the 57th Annual General Meeting of the IGCC on September 22, 2013. Hon’ble Shri Praful Patel, Minister of Heavy Industries & Public Enterprises, Government of India, was the Chief Guest while His Excellency Michael Steiner, German Ambassador to India, was the Guest of Honor at the AGM. Dr. Bruck, who was the Vice President of IGCC in 2012-13, takes over as President from Mr. V. K. Viswanathan, Chairman, Bosch Ltd.
IGCC Business Monitor 2013 survey:
According to the IGCC Business Monitor 2013 survey, this year, German businesses foresee a steady, moderate continuation of their investment activity: A vast majority of those polled see their investment levels either continuing steadily (48%) or increasing moderately (28%) this FY. In addition, this year just 6% as opposed to 10% of respondents last year plan to decrease
investments in India.
Contact for journalists:
Siemens Ltd., Media Relations
Bijesh Kamath, phone: +91 22 3967 7537, 3967 7000
Reference Number: CC/PR/17/INDUSTRY 09 2013