Promising complete cooperation in creating a business-friendly environment on all aspects, India has asked German companies to invest in the country and take optimum advantage of the 'Make in India' initiative.
"The Government of India is committed to creating an enabling environment wherein global business corporations are extended complete cooperation for guiding foreign investors on all aspects," India's Consulate General in Frankfurt Raveesh Kumar said during a networking event organised in Pfalzbau.
Making a strong pitch for investing in India, Kumar highlighted how the reform measures introduced through the 'Make in India' initiative are challenging the status quo and providing new opportunities for the German industry.
"It has created innovative mechanisms for guiding foreign investors on all aspects of regulatory and policy issues and to assist them in obtaining regulatory clearances," he said.
The 'Make in India' event was attended by over 50 participants representing German companies, law and consultancy firms, entrepreneurial class, government organisations and financial institutions.
The Government is closely monitoring all regulatory processes with a view to simplifying them and reducing the burden of compliance on investors, Kumar said.
He also said India will be participating at the upcoming Hannover Messe 2015 event as Partner country under the 'Make-in-India' theme.
He said State Governments across India, Business Chambers and Indian Missions globally are also playing an active role in supporting the initiative.
"Make in India is a great initiative and welcome move for German companies. Enabled by IT, this campaign will be a true game changer for core sectors growth in India," Matt Preschern, Executive Vice President & CMO, HCL Technologies, said in his address.
"Germany and the DACH (an acronym used to represent the dominant states of the German language) region are the dominant markets for IT services in Europe. We believe Germany has exponential potential for IT services," he added.
India was identified as one of the most promising economies for German industry in the coming years.
