The Make in India Mittelstand (MIIM) launched to encourage German small and medium industry (SME) to India has evoked major interest in Germany, giving further boost to bilateral business ties, Prime Minister Narendra Modi said.
"Germany is contributing in a big way to the Make in India. The Strategic Market Entry Programme MII Mittelstand started in September 2015 to facilitate entry into the Indian market has been a major success," Modi said addressing the India-Germany business summit also attended by German Chancellor Angela Merkel.
Over 83 German companies have expressed interest in joining the programme, 73 have officially enrolled, while 47 companies' investments are in advanced states of implementation," he said.
Modi noted that the Indo-German Managers Training Programme had led to increased investments and creation of joint ventures by companies from both countries. "More than 500 Indian managers have benefited from this programme," he said.
Describing Germany as among India's "most important partners" globally, which is the 7th largest source of foreign direct investment (FDI) into India, the Prime Minister cited the examples of German majors in India.
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