CII Central Gujarat Zone organized an Interactive Session with H. E. Dr Jürgen Morhard, Consul General of The Federal Republic of Germany, Mumbaion Tuesday at The Gateway Hotel in Vadodara.
During the interaction with 30 key CEOs in Vadodara, Dr Morhad emphasized that “India is the most important partner for Germany. Both the countries have independent judiciary and democracy which is of utmost important for growth and development as well for sustaining them. Gujarat and Maharashtra has maximum number of German companies and seeing the Ease of doing business initiatives, investments from German MNCs will increase.”
Dr Morhard illustrating importance of India said that “India is no more a country, its a continent. The size of population makes it a preferred industrial destination for the world.”
Georg Sparschuh, Vice Chairman of CII highlighted the importance of India-Germany Partnership. According to CII-EY-IGCC Study, 74 Indian companies generated annual revenues of €11 billion and employed 23,300 people in Germany stated by out of a total number of more than 213 Indian subsidiaries operating in Germany. Approximately 74 Indian companies each with annual turnover of more than €10 million generated combined annual revenues of approximately €11 billion. These companies are responsible for a combined workforce of more than23,300 employees.
The top 10 Indian companies alone account for more than 74% of all revenues generated by Indian companies and employ around 59% of this group’s total workforce. 4 dominant sectors of automotive, metals and metal-processing, chemicals and pharmaceuticals and professional, scientific and technical services accounted for almost 95% of the revenue generated by Indian companies in Germany.
This interaction also focused on how German and Indian MSMEs can have joint ventures can work closely.