Market Size, Infrastructure Draw Indian IT Companies to Germany

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02/07/2011

Berlin/Mumbai – Indian FDI stocks in Germany have nearly quadrupled since 2005. Almost half of all new investment projects are in the information technology (IT) industry, including software and communications.Germany Trade & Investrepresentatives will be at this year’s National Association of Software and Services in India (NASSCOM) conference in Mumbai, India, from February 8-10, 2011.

 “With the largest market in Europe and excellent economic growth rates, we have witnessed a surge in investor interest from India,” according to Peter Alltschekow, Managing Director of Marketing & Communications and Director forEastern GermanyatGermany Trade & Invest. Due to this spike in interest by Indian companies,Germany Trade & Investis increasing its presence at its existing Mumbai office this year.

Germany’s information and communications technology (ICT) industry is Europe’s largest, with EUR 128 billion in revenue recorded in 2009. The federal government’s announcement of its new ICT strategy – Deutschland Digital 2015 – confirms its commitment to making Germany a top location for ICT companies. The initiative seeks to increase research activities in ICT-related fields and accelerate the commercialization of research results. Cloud computing and Internet security are specifically identified as focal points.

Richard Offermann, Director of Service Industries atGermany Trade & Investin Berlin: “Germany is the top high-tech investment location in Europe, thanks to innovative companies, generous research funding and a first-rate infrastructure. Cloud computing, mobile data services, embedded security and shared service centers are especially on the rise.”

Over 61 new investment projects by Indian companies have been recorded between 2003 and 2009, overwhelmingly in IT, communications and software. Nearly half – 43 percent – of the projects fall in these high-tech industry segments. Over 255 Indian companies are currently present in Germany, a figure expected to grow in 2011.

News Source : Market Size, Infrastructure Draw Indian IT Companies to Germany