New Delhi, May 6: Indian companies including HMT and Essel Group have signed 11 MoUs with German firms that will help boost foreign fund inflows as well as domestic manufacturing, Parliament was informed on Wednesday.
The pacts were signed last month at the Hannover trade fair. Prime Minister Narendra Modi and German Chancellor Angela Merkel had inaugurated the fair in Germany last month.
"These Memorandum of Understandings (MoUs) are expected to increase FDI flows to India, bring in new technology, help growth of manufacturing sector and create employment opportunities in the country thereby boosting its economy," Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Rajya Sabha.
Instrumentation Ltd signed a pact with German-based KE Kauer Engineering for production of control valves. Vikram Solar inked MoU with Fraunhofer Institute for solar energy systems.
Hindustan Machine Tools (HMT) inked separate pacts with FT Machine Tools and Enit GmbH for collaboration in engineering sector.
"Essel Group with Wind and Sun Technology Group/FeCon GmbH to develop 12500 MW of solar and 4000 MW of wind energy projects in India. Essel Group with Passavant Energy and Environment for water and waste water treatment projects," Sitharaman said.
Essel Group also inked a pact with Fichtner GmbH & Co to provide comprehensive inter-disciplinary range of engineering and consultancy services in areas of energy, water, sanitation, infrastructure and IT.
Besides, it signed an MoU with Smart Grids-Platform Baden-Wuertemberg to act as facilitator in linking the energy networks for Essel group. Further, Roots Group India and Neander Motors, Germany signed agreement for transfer of technology and joint venture for production of twin cranks and diesel engine.
It was worth 0.6 million euros. iPLON signed MoU with Welspun Renewables in the area of green energy commitment. Heavy Engineering Corporation signed with Kirow Adelt GmBh of Leipzig for manufacture of railway cranes.