Financial Daily from THE HINDU group of publications
Sunday, Feb 03, 2002
Financial Daily from THE HINDU group of publications Sunday, Feb 03, 2002 |
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Info-Tech
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Off-shore Development `Germany, a window for Indian IT cos' M. Somasekhar
HYDERABAD, Feb. 2 GERMAN and Indian information technology companies should join hands to jointly offer services and tap the emerging markets in the European Union (EU), West Asia and China. Proposing this strategic initiative, Dr Wolfgang Veshe, Secretary of State for Economic Affairs in the Saxony State of the Federal Republic of Germany said "Germany can be a window for Indian IT companies to increase their market presence in EU''. Dr Veshe, who is leading a delegation of IT companies on an exploratory visit to Hyderabad and Bangalore told Business Line that "Green card is only one of the initiatives that has been formulated in Germany to attract Indian IT professionals and companies''. A variety of subsidies and venture and risk capital are available for Indian entrepreneurs who are looking for opportunities. East German cities such as Dresden are very competitive in real estate, housing and incentives when compared to other German cities such as Hamburg, Dusseldorf, Munich or Leipzig, he said. Dr Veshe said the German Government was keen to encourage Indian IT companies use the full range of opportunities for co-operation in building a strong partnership in both software and hardware development. He said for small and medium enterprises (SMEs), with not more than 249 employees, the Government extends subsidy of up to 50 per cent of initial investment. For bigger enterprises, a 35 per cent subsidy is on offer. For R&D efforts in collaboration with German technical institutes, up to 70 percent of the expenditure is subsidised. The German delegation visited Infosys Technologies and Cerebra Technologies in Bangalore. In Hyderabad they visited Satyam, Vanenburg Software Park, Larson & Toubro and Lumley Technologies. In addition, they had several business to business meetings with Indian IT industry, he said. Some of the delegate members were from companies such as Lintec Information Technologies, Komsa Kommunikation Sachsen, focussed on mobile communication and internet, Mugler AG which executes telecom projects globally, Net-linx -software for publishing and newspaper and PC-Ware International Technologies among others. Incidentally, a delegation of IT companies from Andhra Pradesh had organised a road show in Frankfurt and Munich in Germany and London during December 2001.
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