He also mentioned that German companies are planning to expand their investments in India on the back of availability of skilled workers, lower labor costs and political stability in the country.
He has mentioned the above while addressing a discussion on the conduct study of Indo-German trade activities by KPMG, a multinational professional services company, and said that the direct and indirect investments made by German companies in India have exceeded 23.9 billion Euros.
He continued to mention that 80 percent of the German companies participated in the survey, which was held with the participation of the German embassy officials in India. 74 percent of the companies that indicated that they expect to increase their income in the next 5 years also expressed their hope that they will get more profit in the next 5 years.
Around 2000 German companies are operating in India. He also pointed out that most of them are working in the fields of automobiles, vehicle distribution, pharmaceuticals, and electronics.
