India seen helping wean Germany off nuclear power

Indian industry would see many opportunities with the Fukushima nuclear disaster making the whole world develop a cold feet on nuclear energy. Germany, which has set itself a target of weaning itself off nuclear energy by 2022, instead of the initial target of 2040, believes that Indian industry could play a major role in helping Germany switch to alternate energy.

“It is an opportunity for India as Germany phases out nuclear energy by 2022,” said Rolf Saligmann, consul general, Federal Republic of Germany. It is the technologies for alternate energy that would be in demand, and with many of these technologies developed in the West unable to deliver power at a remunerative price, it falls on the low-cost countries to help the developed world find alternative sources that would come cheap.

Germany, which is among the leading exporters in the world, wants to continue to keep its status and also remain a manufacturing power house. The country, said Saligmann, wanted to lead in alternate energies. The cheaper energy technology would act as an export bonus for Germany. This is the time for India to be more creative, he said while speaking at a seminar organised by the Bangalore Chamber of Commerce and Industry (BCIC) in Bangalore on Thursday.

Meanwhile, Peter Young, Counsellor - Head, Trade & Economic Affairs, EU delegation to India, said the role of India in the global economy in the decades to come will be key. The role of India in the global markets will increase.

On the role played by Indian companies in Germany, Saligmann said, in 2008, investments by Indian firms in Germany was of the order of $1.8 billion, which was more than what German companies had invested in India that year. Of these investments, about one-third came from Karnataka alone, he added.

Meanwhile, Germany will be opening its consulate in Bangalore in mid-July. This is expected to save those flying to Germany from Bangalore and surrounding areas from travelling to Chennai for visa.