Germany keen on big projects in India

Germany is keen on grabing large volume projects such as high-speed trains, smart cities and renewable energy in India and will support its companies to make them competitive against those from China and Japan, a German minister said today.
A German business delegation led by Minister Uwe Beckmeyer MdB in the Federal Ministry of Economics and Energy, has been on a India visit to explore business opportunities.
"We talked with entrepreneurs and government officials for business opportunities in 'Make in India' campaign. We have a new strategy on fresh stimulus to major strategic international projects abroad. We want to promote new markets and also prove German companies' ability to compete with companies from China and Japan on international big projects," Beckmeyer MdB said in a select media briefing here.

Germany is particularly keen on high volume projects like high speed trains, ports, infrastructure, locomotives, renewable energy, and railways.
At present, India and Germany already have a cooperation agreement on energy.
He said India can gain advantage from Germany as it is an expert in the field of high speed trains.

Referring to questions being posed to Germany in the past on financing high volume projects in India, he said it is now in a position to extend financial support and want to be in a position to support Indian in these fields.
"In case of large volume projects, our support could match competitiveness and this is what we have to do. German exports and economy are on a good path, we have a strong economic situation. We have also developed new coordinations to strengthen our position in business competing for projects abroad," he added.

Germany is also working on establishing a single-touch point at political level in India and a coordinator will be appointed shortly to facilitate their businesses here.
The German government will also offer financial cooperation to individual projects and disburse export credit guarantee with 100 per cent cover for public and private sector for projects abroad that are of strategic importance to Germany.
On asked about recent demonetization of Rs 500/1000 notes, he said it is India's political decision, however, Germany is involved with India in printing bank notes that are hard to counterfeit.