While India is a preferred destination for investment by the German investors, they are looking for similar opportunities in Odisha.The Germany industry and business communities have shown a lot of interest in India in general and particularly in Odisha. And, the State Department of Industries has been in close coordination with German investors since long.
While the focus is on heavy engineering, textile and apparel, in the wake of the Covid-19 pandemic, the investors have evinced a lot of interest in pharmaceuticals, precision equipment, industrial chemicals and food processing sectors, said sources.While the Consul General of Germany based at Kolkata is coordinating with the investors, recently new Consul General of India based at Frankfurt has taken a lot of interest in Odisha.Odisha is seen as a favored destination for the investors in Japan, Germany and other countries, thanks to its progressive industrial policy framework, ease of doing business and single window approach.
While German economy has been significantly impacted due to Covid-19 pandemic, slowly and steadily, the German industry is on a recovery mode. The German investors are showing a lot of enthusiasm to restart their engagement with Indian partners, sources said.
Consul General of India, Frankfurt, Amit Telang is in touch with the Odisha Government.
The Indian Consulate deals with several industrialised States of Germany, which are engaged in trade and commerce with various States of India.Principal Secretary Industries Hemant Sharma along with Team Odisha is coordinating such efforts through webinars with major industrial organisations and with the Government of India.
While the Covid-19 pandemic has presented limitations on road shows, participation in trade fairs and face to face interaction, however, the investors are also utilizing online platforms for interaction and economic engagements.
Industrial relationship with Germany and Odisha had started with construction of the Rourkela Steel Plant in 1960.
And, recently the Germany Development Agency (GIZ) has been providing technical assistance to the Odisha Government for the Bhubaneswar Smart City Project.