Published on : Apr 21, 2015
One of the outcomes of the Industrial Fair, Hannover Messe which was held in Germany this year, demonstrated the results of a survey which was carried out by the consultancy firm EY and by the Delphi, a research agency. The survey compared the investment scenario in the countries of the BRICS region. And it showed that over 90% of the surveyed CFOs and CEOs from the key German high tech companies stated that currently India offers a better investment climate as compared to the BRICS region.
This survey also showed that it was found that numerous perceived challenges which were present across the high tech manufacturing sectors and investor groups. Out of these, the notable ones were the improvement in infrastructure, liberalization of FDI, simplification of regulatory procedures, and also simplifying of the tax system.
But, interestingly this survey showed that there were several sectors in manufacturing which the renewable energy sector was one of which can offer the most amount of convergence for the Indo German collaboration.
According to the Indian Prime Minister, they will vow to remove unnecessary regulation and procedures in order to simplify the process of foreign investment in the country along with making the path easier for other countries to start business deals. He further said that Germany’s cooperation in this matter was requested.
In a joint statement which was issued by these two countries, Germany has resolved to provide support to India’s proposed goal of 175 GW of the RE by the end of the year 2022 via technical and also financial support for creating a comprehensive solar rooftop and green energy projects in the country of India.