HANNOVER: Chief Executive Officers of top German companies met Prime Minister Manmohan Singh here on Sunday even as major investment commitments came from BMW, Volkswagen, Bosch and Siemens.

Luxury carmaker BMW alone has committed Rs. 900 crore for setting up a manufacturing facility near Chennai, with Rs. 200 crore coming in the first tranche.

Commerce and Industry Minister Kamal Nath told newspersons after the CEOs' meeting that energy major Siemens sought to invest 600 million Euros in setting up a manufacturing facility. "They have told the Prime Minister that they want to participate in ultra mega power projects," Mr. Kamal Nath said.

The German truck and bus maker has signed up with the Firodias-owned Force Motors for establishing a plant at Pitampura in Madhya Pradesh with a commitment of $300 million.

Mico Bosche would be investing yet another 500 million Euros in setting up units in the field of auto components and information technology.

Others who met the Prime Minister included the CEOs of MWG Biotech AG, Deutsche Bank, Carl Zeiss, Lahmeyer International and Bayer.

They told the Prime Minister that Germany was looking at India for making huge investment in manufacturing. "They informed the Prime Minister that they see India for setting up their global manufacturing hub since we are the most competitive in cost," Mr. Kamal Nath said.

The Prime Minister is here for inaugurating the world famous Hannover Fair 2006 in which India is the partner country.

Manmohan seeks greater involvement

Dr. Singh underlined the need for greater, deeper and wider German involvement in India's economy to help it achieve an annual growth rate of 10 per cent.

He also sought Berlin's assistance in giving a true meaning and content to the India-European Union strategic partnership.

``Germany is an important country in the E.U. India is seeking a strategic partnership with the E.U. It goes without saying that without Germany's support, it is not possible to give a true meaning and content to this relationship,'' the Prime Minister said in a brief chat with reporters after signing the Golden Book at the new Town Hall here in the presence of Hannover Mayor Herbert Schmalstieg.

Dr. Singh said the relations between India and the E.U. were bound to strengthen if Germany, the most important member of the regional grouping, supported India's cause.

Germany's contribution

``Germany's contribution to the growth of Indian economy has been enormous but we cannot be satisfied. India seeks more investments, technology and research cooperation with Germany to achieve faster, deeper and wider economic growth,'' Dr. Singh said.

He said he was happy that Germany has chosen India to be the partner country for the Hannover Fair, the largest technology trade exhibition, after 22 years. Some 300 Indian companies would participate in the fair.

— UNI

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