India asks Germany to invest in SEZs

New Delhi, June 20 (UNI) Non-Conventional Energy Sources Minister Vilas Muttemwar has invited the German industry to invest in Special Economic Zone (SEZ) to be set up exclusively for manufacturing renewable energy (RE) equipments in India.

During his meeting with German Minister for Environment, Nature Conservation and Nuclear Safety Sigmar Gabriel and Ms Heidemarie Wieczorek-Zeul, Federal Minister of Economic Cooperation at Berlin recently, Mr Muttemwar requested the German Ministers as well as the Industry associations (wind, solar, etc) to consider investing in these dedicated Special Economic Zones (SEZs).

Mr Gabriel appreciating the idea mentioned that a business delegation from Germany would be mounted to India to discuss and further explore with the Indian industry and the Government, the possibilities of investments in the SEZ for renewables.

Besides duty benefits, this kind of SEZ would enable reduced cost of manufacturing on account of comprehensive infrastructure facilities including power, banking, etc in this region.

Both sides shared their experiences in development and deployment of renewable energy systems and devices in their countries. The two sides acknowledged that there are significant opportunities for cooperation in the area of joint research, design and development, especially in the areas of wind energy, solar energy and bio-energy.

The cooperation could be furthered under the Indo-German Energy Forum by strengthening institutional linkages.

UNI RT DKS KN1431