German Industry Upbeat On India

The remark, which came at the conclusion of the two-day summit of top German industrialists on business prospects in Asia, particularly in India, indicated the conviction of the German industry about the growth prospects in the region and its confidence in the continuity of reforms in India. It also signalled the mood of the German industry about investment prospects in the region.

The minister said he was convinced that India was politically stable and, during his talks with the government, he got the impression that the United Front government will pursue economic reforms. He said Germany would be interested in investing in the infrastructure as well as in promoting small and medium German units setting up businesses here.

 

The Asia Pacific Conference of German industry, which ended here yesterday, was attended by attended practically by all the industry heavyweights of the country including Heinrich von Pierer, president and CEO of Siemens AG, Gerhard Cromme of Friedrich Krupp AG Hoech-Krupp, Helmut Burmester of Klockner & Co, Klaus von Menges of Ferrostaal, Hubert Lienhard of ABB-Manheim, Rainer Schumacher of Deutsche Babcock Energie etc.

The gathering drafted a New Delhi Resolution at the end of the summit which underlined the German industrys abiding enthusiasm for the Asia Pacific region.

The conference proposed that measures and instruments for promoting foreign trade must be combined and strengthened. The magnitude of the task and the speed of the economic development in the Asia-Pacific region makes it inevitable that all steps are focused towards achieving this objective.

* In the years to come, the decisive strategy will be to bring about more industrial production to the region and develop successful trading activities through investment in marketing and manufacture. In the task of penetrating the markets, a sizeable contribution can be made by the German trading companies. Small and medium enterprises require specific support measures to become active in Asia. Attracting small and medium enterprises to these regions would also be facilitated significantly by the setting up of industrial parks in the region.

* The prerequisite for success in business is availability of qualified and trained manpower for the German enterprises in the region. At the same time, training is also of paramount importance for further economic development of the partner countries. The German enterprises in the region do recognise the need to fill the existing gap in this area.

* It is also recognised that Germany has lost to a certain extent its attractiveness as a destination for studies by students of the region. The important multiplier effect for German products and technology is thus unavailable to the German industry.

* The continuing privatisation of important service sectors offer the German enterprises new chances and challenges. It is desirable that a greater interest is demonstrated by the German enterprises with operational know-how in these sectors.