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Business Economy


Indian companies can invest in optics, automotive sectors of Thuringia

New Delhi, Feb 11 (UNI) German State of Thuringia's Economic Affairs, Science and Digital Society Minister Wolfgang Tiefensee on Monday urged the Indian industry to position Thuringia on its business and investment radar and reap the advantages that the state had to offer.
Addressing Indian industry representatives here at an interaction organised by FICCI, Mr Tiefensee said Thuringia lies at the heart of Europe. It is home to an optics industry that leads the world, an automotive industry that boasts of global players such as Daimler, Opel/PSA, Magna, Bosch, BMW or Borg Warner and offers excellent conditions in mechanical engineering for generating innovations and launching internationally successful products and technologies.
The Thuringian Minister said the state has a high density of scientific institutions where investors and companies will find a conducive environment for innovation. About 10,000 scientists are doing research in the state at more than 40 institutes and universities in close cooperation with businesses.
On the occasion, an MoU was signed between Thuringian Manufacturer Gramme-Revit and Indian distributor WB for a new food supplement against arthritis, named 'DuoVital'.
FICCI Senior Executive Committee member Rakesh Bakshi spoke of India's commitment to raising its share of renewables in the energy mix from 21 per cent now to 40 per cent by 2030.
Thuringia, he said, was known the world over for its medical technologies, expertise in mechanical engineering and the automotive sector and was fast emerging hub for climate change mitigation technologies.
India, he said, can ill afford to ignore German advances in technology, just as Germany can benefit from India's large market.
UNI SW SHK1854
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