In what will make the Modi government’s task of wooing foreign investment in India easier, over 90 percent of companies in Germany have picked India as possessing the best investment climate among the BRICS nations.
These are the results of a survey, conducted by Ernst & Young and Delphi, which stated, “India is assumed to be the highest performing country among the BRICS (Brazil, Russia, India and China and South Africa) markets.” This is what 94 percent of CEOs and CFOs from leading German hi-tech companies believe.
Commissioned by the Indian Embassy in Berlin, the report titled “Prospects for Indo-German collaboration in hi-technology manufacturing” was released by the Indian Prime Minister during his visit to Germany, whose economic elite are still basking in the afterglow of new promise for economic promise between the two partners.
The survey also identified various challenges across all high-tech manufacturing sectors and investor groups, start-ups and companies already operating and potential investors who are contemplating investment in the emerging markets of the BRICS nations. These challenges include inadequate infrastructure, complex regulatory procedures, strained FDI, and complex tax system.
The report had analysed 13 high-tech manufacturing sectors, and seven of them offer highest convergence for Indo-German collaboration. They are -infrastructure, transportation, civil aviation, water, heavy engineering, automotive and renewable energy.
The survey concluded that Indian and German collaborations in high-tech manufacturing could become the form the most essential part of the “Make in India” campaign.
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