Desi companies in Germany earn 11 billion Euros

Based on interviews with leading Indian chief executives, the study, done by the Bertelsmann Foundation, Ernst & Young (EY) and CII, showed that, since 2010, nearly 140 major investment projects by Indian companies have been initiated in Germany. “This includes FDI (foreign direct investment) announcements as well as M&As (merger and acquisitions),” a CII release said here. 

“Between 2010 and 2016, Germany was the second-largest recipient of Indian FDI in Europe with 96 projects,” it said. According to the study, the top sectors for investment include automobiles, metals and metal processing, professional, technical and scientific services, pharmaceuticals and chemicals, electro-technics and machine building. 

The study found Indian firms in Germany currently generate nearly 70 per cent of their turnover in the labour-intensive sectors of metals (40 per cent) and automotives (29 per cent). Major players in these sectors are Tata Steel, Hindalco industries and Sona Autocomp.