By Christopher Alessi
HANNOVER--German Chancellor Angela Merkel welcomed Indian Prime
Minister Nerendra Modi Monday at the start of the Hannover Messe
trade fair, the centerpiece of the Indian leader's first visit to
Germany.
As the official partner country of the Messe--the world's
largest industrial trade fair--India is promoting its industrial
and technological assets as Mr. Modi seeks to draw German
industrial investment to his country.
Months after his election last May, Mr. Modi launched a "Make in
India" campaign to promote the country as an investment destination
and manufacturing center. His goal is to market India as an
industrial hub for foreign players eager to take advantage of the
country's large workforce, raw materials and infrastructure.
German industrial companies, the backbone of the German export
economy, are particularly attractive to India because they offer
proven industrial expertise and technological know how, experts
say.
In addition to big multinational players like Siemens AG and
Robert Bosch GmbH, a string of midtier firms--collectively known as
the Mittelstand--comprise a large part of the German industrial
landscape. Many Mittelstand companies, often experts in one niche
industrial or technical area, are poised to take advantage of low
cost manufacturing in India and easy access to one of the world's
fastest-growing markets.
At the same time, Indian firms have been increasingly targeting
Mittelstand through mergers and acquisitions, proving to be an
unlikely savior for some German companies in financial
distress.
Ms. Merkel said she was "impressed" with how India was
positioning itself at the fair, adding that she wanted to continue
to strengthen an already strong partnership between the two
countries.
"We think India will find the right path toward the future when
it combines innovation and democracy," Ms. Merkel said.
Write to Christopher Alessi at christopher.alessi@wsj.com
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