Archiv der Kategorie: Indo-German Business News

External news with relevance for Indo-German economic and business relations

>> ‚Year of Germany in India‘ commences in New Delhi <<

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Source: India Today, 23.09.2011

The year of Germany in India commenced on Friday amid much fanfare and rhythmic resonance as India’s star percussionist Sivamani and Germany’s solo percussionist Christoph Haberer came together for an open-air concert titled, ‚Infinite Rhythms‘, at Nehru Park in New Delhi.

The fifteen-month programme series titled „Germany and India 2011-2012: Infinite Opportunities“ was jointly inaugurated by Minister of State of the German Federal Foreign Office Cornelia Pieper, German Ambassador to India Thomas Matussek, Chairman of the Asia-Pacific Committee of German Business (APA) Peter Loscher and Lt. Governor of Delhi Tejendra Khanna. The event was organised in close cooperation with SPICMACAY and NDMC.

This year, Germany and India celebrate 60 years of diplomatic relations. The two nations enjoy a strategic partnership since the year 2000. Over the next 15 months, „Germany and India 2011-2012: Infinite Opportunities“ will showcase the entire spectrum of the Indo-German strategic partnership in the spheres of politics, business, culture, education, science and research.

Continue reading at the India Today Website….

Some more reports:

 

Mauritius top destination for Indians investing abroad; Germany loses attraction

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By: Rajnish Tiwari

According to a recent report appearing the Hindu Busines Line (6th Sept. 2011) Mauritius has emerged as the top desitination for Indian foregin direct investments. The official data suggest that Indian FDI outflows to Germany have gone down by as much two-thirds…

„Mauritius has again emerged as the hot destination for Indian corporates investing abroad. The US and Singapore seem to be loosing their attraction.

„The Finance Minister Mr Pranab Mukherjee, in a written reply in the Rajya Sabha on Tuesday, said that Mauritius, the US and Singapore have regained the top three places in attracting Indian capital but with one difference. Mauritius has registered very healthy growth, but investment in the US and Singapore has come down in comparison to the previous year. United Arab Emirates (UAE) has also registered positive growth, but investment in the Netherlands has come down to half while to Germany it is down to nearly one third.“ […]

(Read the complete report on the Hindu Business Line)

It must, however, be noted that a significant portion of outward FDI projects of Indian firms takes place by roping in subsidiaries already located aborad so that those investments are not necessarily captured by official data. Moreover, it is not improbable that a significant portion of the FDI to Mauritius is actually routed further to other countires in order to take advantage of favourable taxtaion treaties. Nevertheless, we cannot deny that Indian investments to Germany have, in recent past, neither kept pace with the overall development of Indian outward FDI nor with the growth level of the Indo-German bilateral trade relations. Nonetheless, the investment activity has remained encouraging, the offical figures not withstanding.

On the issue of recent developments and challenges in Indian outward FDI to Germany also see:

Tiwari, R. (2011): Investment Destination Germany: Chances & Challenges for Indian Firms, in: Business Guide Germany India 2011/2012, pp. 96-97, Berlin: Wegweiser.

REpower Invests in German Production Sites

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Source: Company press release, dated 13.09.2011

Hamburg, 13 September 2011. REpower Systems SE (WKN 617703) is realigning its German production sites for wind turbines. Today, Tuesday, 13 September, the company is holding the topping-out ceremony for the expansion of nacelle and hub production in Bremerhaven. Starting in 2012/13 financial year, it will be possible there to assemble wind turbines each year with an output of 900 megawatts (MW). Up to now, the annual production capacity was 600 MW.

At the same time, the assembly hall at the Trampe/Eberswalde (Brandenburg) location is being converted to enable production of REpower’s 3.XM three-megawatt series in four assembly areas in future. The company is investing a total of some EUR 10 million in expanding the two production locations.

“REpower leads the way for multi-megawatt offshore turbines and our 3.XM series, which was launched in 2008, is also in great demand on the market”, commented Gregor Gnädig, Chief Operating Officer (COO) of REpower Systems SE. “We have to re-position our three German plants and expand capacities in good time. The European offshore business will also increase significantly over the next few years”.

At present, REpower only assembles MM-type turbines with 2-megawatt nominal power at Trampe. To convert to the new platform, the electrical test facilities in particular have to be adapted. “The capacities for producing the international ‘REpower bestseller’, the MM series, are to be relocated to Husum and the locations in Portugal and Padubidri”, explained Gnädig.

The first 3.XM nacelles and hubs will be produced in Trampe by the end of the year.

Editor’s note: REpower Systems is a subsidiary of India’s Suzlon Energy Ltd.

Media Reports: Suzuki dissolves partnership with Volkswagen

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12.09.2011. Media reports suggest that Suzuki has decided to dissolve its partnership with German carmaker Volkswagen (VW). There was apparently discontentment because of Suzuki’s decision to source diesel motors from Fiat. The partnership was especially interesting as it was meant to enable VW a strategic leverage for its India operations. Suzuki’s Indian subsidiary Maruti Suzuki is a dominant automobile player in India especially in the segment of small cars.

See:

For some news reports in German media click here.

Economic Times: „Tata Consultancy Services bids $500 mn for 80% stake in Lufthansa IT Systems“

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According to a report in the Economic Times, dated 6th Sept. 2011:

India’s largest software services exporter, Tata Consultancy Services, has put in a bid valued at $500 million to acquire a controlling stake in Lufthansa IT systems, the captive information technology unit of the Frankfurt-based airline, two people said on condition of anonymity.

TCS is in talks to negotiate a multi-year contract from Lufthansa which could yield revenues in excess of $2 billion for the company according to people familiar with the bidding process.

Credit Suisse is advising TCS on its bid for Lufthansa IT systems.

According to Lufthansa System’s website:

Lufthansa Systems provides consulting and IT services for selected industries and has a leading position in the global aviation industry. The wholly-owned subsidiary of the Lufthansa Group offers its customers the entire range of IT-services, including consulting, development and implementation of industry solutions as well as operations.
At its headquarters in Kelsterbach near Frankfurt/Main, Germany, the company operates one of the most modern data centers in Europe. Lufthansa Systems has offices in Germany and 16 other countries and employs about 3,000 people.

(Site accessed on: 10.09.2011)

Lufthansa Systems also has a strong presence in the Metropolitan Region of Hamburg, where it operates 3 branch offices, including one in Norderstedt.