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5-member German trade team in city

Special Correspondent

To help Indian companies

CHENNAI: A five-member team from Germany Trade and Invest is in the city to help Indian companies either to invest or expand their manufacturing operations or sales office in East Germany.

The delegation led by Michael Pfeiffer, CEO of Germany Trade and Invest, told reporters here on Thursday that they were looking for investments from Indian firms in the fields of renewable energy, automotive, biotechnology, ICT, microelectronics, machinery and equipment, chemical industry and polymers, transportation and logistics as it offered vast potential for investors.

“We have heard a lot about Tamil Nadu and the automobile hub. Tamil Nadu fits in nicely with our scheme of things. They can do well if they join hands with German firms. Asia is the fastest growing market and we are having a close look at it. On the other hand, Eastern Germany offers easy access to European markets and to the Western world,” he told The Hindu.

Ranjit Pratap, Chairman, Southern Regional Council, Indo-German Chamber of Commerce, Chennai, said that it was time to combine German's technical prowess with Indian entrepreneurship capabilities. Indian firms have to showcase its ability in the German market to get better image. This would help them to increase their market share.

Herbert Stuetz, Director, Asia Pacific, State Development Corporation of the Federal State of Thuringia, explained about the potential of 22 research and development laboratories and urged the Indian firms and educational institutions to join hands with it and various universities for mutual benefit.

He also said that so far they have helped 320 overseas companies to set up base in Eastern Germany.

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