German Center: German companies in India defy downturn

Economic crisis or no economic crisis, German companies still look at India as an attractive investment destination. They expect the German economy to recover soon, remain confident about India’s excellent market potential and plan to increase investments further, says an Indo-German Chamber of Commerce (IGCC) survey.

A survey among German companies operating in India underlines India as a crucial growth market for German investors. Many German companies also have plans to hike their global Research and Development (R&D) support and outsourcing there in the future.

In an interview to www.german-info.com recently, Chief Economist of IGCC Oliver Mueller said, “In the last five-six years India has emerged as the next big thing in Asia. It has always been on the radar.  But with the growth rate in the last couple of years at 8 per cent, touching 9 per cent there has been a new wave of interest - especially for SMEs. The big companies have had a presence in India for the last 40 to 50 years and have continued to invest and build.”

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