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Germany beckons Indian companies

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CIOL Bureau
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BANGALORE, INDIA: The Mayor of FrankfurtRhineMain Dr. h. c Petra Roth has announced several Sops and facilities to Indian companies to set-up their businesses in the FrankfurtRhineMain region of Germany.

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The Mayor was on an official visit to India with the Deputy Mayor, city officials, and business representatives from the region. The delegation visited Bangalore and Mumbai to promote the FrankfurtRhineMain region as a sought-after business destination.

This region in Germany is a strategic location for businesses looking for European presence. The region is also the number two in the worldwide ranking for leading the bio-tech and life sciences sector, said a press release.

She addressed a large gathering of prospective Indian companies in Bangalore and Mumbai and spoke on various issues related to Indian companies planning to institute businesses in FrankfurtRhineMain, including procedures for Visas, immigration, taxation, grants and intellectual property.

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The Mayor visited the Infosys and Biocon facilities in Bangalore and also met the Mayor of Mumbai and has extended an invitation to visit the region, the release added.

The Mayor and delegation also held one-to-one interactions and discussions with some of the small and medium enterprises (SMEs) keen in expanding their business in the European markets.

In her address Dr. h. c Petra Roth said, “Today no place can be a business destination without a substantial presence from Indian business organizations, there is an increasing demand for Indian expertise in sectors such as IT, biotech, pharma, consulting, engineering services, finance and manufacturing.”

“Indian business giants like Reliance Industries, TCS, Infosys, Wipro, Satyam and HCL are among the leading companies to have set up operations in Frankfurt and now the banking sector also has spread its wings with principal banks like SBI opening its operations in the region,” she added.

She also said that the Indian companies in the region generated more than $5 billion in 2007. This is an impressive figure and speaks volumes about the region as a business destination, said the Mayor.

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