According to reports, to attract Indian investments into eastern part of Germany, the German government is targeting SMEs and other investors from India apart from offering help to build green corridors in the country.
“We have signed an MoU with India for a privilege loan of 1 billion euros to set up green corridors in the field of renewable energy,” Dr Stefan Weckbach, Con-sul General of the Fede-ral Republic of Germany, told this correspondent.
Weckbach said that about 250 million euros has already been earmarked for India for the next one year and the negotiations had begun about three months ago.
Suggesting that India needs to invest in all kinds of power, he said Germany will support India in renewable energy. “We have recently received a success list by experts from Berlin about the considerable Indian investments in eastern Germany.
Only recently, a Chennai-based SME has bought a small German steel plant. We have conducted workshops in Hyderabad and Chennai and have received positive response from Indian SME investments in Eastern Germany. Because, we are pioneers in innovation and engineering, we see Indian companies using our innovations,” he explained.
German firms, mostly from the automobile and engineering sectors, have of late increased their investments in India to cash in on a growing economy.