The union minister of commerce and the Industry Anand Sharma was a leading in a high level FICCI delegation to the Germany. Wherein he will seek in the support from the key member of the EU over the campaign against the outsourcing. In the US, the minister release a FICCI-KPMG the knowledge Paper in the Dusseldorf on India and the Germany. In automotive, infrastructure, chemical, pharmaceuticals and renewable energy, the paper will highlight the burgeoning number of German firms that are likely to invest in India in various segments. The president of FICCI told media in Delhi Rajan Bharti Mittal, said that “We would enlighten the Germans just like what we did in the case of the US that outsourcing will do good for their economy. We will let them know that it is a two-way street as our delegation would be there in Germany from October 6 to 8”. The part of the delegation to Dusseldorf, Dresden , Berlin and Frankfurt adde: ‘mercifully’a bill against outsourcing has been defeated in the US Senate. is the Mittal. The Germany was being the largest member of the 27-member EU bloc, it would be thrown more light on the advantages of the outsourcing for the West. Given by his Bharti group telecom Company to the multinational US firm IBM, the mittal cited the case of a multi-billion outsourcing contract. In the US to the Obama administration recently, the commerce and the Industry Minister who was forcefully,, conveyed India’s co9ncern over anti-outsourcing voices. This was aimed at raising the issue with the German officials as well. There was another major issue was looking forward to discuss with the Western countries. There a one billion dollar that being lost by the India by way of deductions from the income of professionals on the short term visits in the name of the social security. The Mittal also added that the effort would be to set in motion mechanisms that would help achieve the mutual trade target of euro 20 billion by 2012 from the 2009 level of euro 13 billion. The cooperation on scientific research and technology will be at the top of the table, according to this they said that “We will go the whole hog in seeking FDI from Germany as its strength in technology is well matched by India’s attributes of a high growth market, favourable demographics, cost-efficient production and R&D base, coupled with access to wider South Asia market and availability of skilled labour.” The FDI from the Germany, Mittal said that ” “This raises the expectation that FDI to India from Germany could be increased manifold over the current level of $ 3 billion. What is more, Germany is the third largest investor in India among European investors, after the UK and the Netherlands. Nevertheless, the direct FDI annual inflows from Germany is less than $ 1 billion. We will seek German FDI into the Indian infrastructure like roads, ports and power and it makes perfect sense because, as per government assessment, India needs a massive investment of $ 1 trillion in the next Five Year Plan for infrastructure.” Outsourcing helps the world to be united though some didn’t think of this kind of strategy. The outsourcing is one of the technique of the very successful companies in the world. It helps the company in the problems.
Reference:
http://automotivehorizon.sulekha.com/india-seeks-german-support-on-outsourcing_newsitem_763
