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Rainer Schmiedchen, consulate general of Germany in Kolkata on Wednesday said introduction of goods and services tax (GST), smoothening land acquisition hurdles, deregulation coal mining and further opening of insurance are of prime interest to German investors to India.
Addressing a press conference organised by German Engineering Federation (VDMA) at the International Mining and Machinery Exhibition (IMME); Schmiedchen said German industry could contribute significantly to Prime Minister Narendra Modi’s “Make-in-India” plan if the hurdles are removed.
Rajesh Nath, managing director of VDMA said export of mining equipment from Germany to India reached Euro 16.2 in the first nine months of 2014.
Germany’s worldwide export of mining gears dropped by 5.9 per cent during the same period.
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