Germany for improving ties with SMEs in India

Hyderabad, Apr 3: Germany is keen on improving business ties with the Indian Small and Medium Enterprises (SMEs) sector, German Parliamentary Group Chairman of Medium-sized Businesses Michael Fuchs said today.

''Democracy is India's strength. German SMEs, the backbone of the German economy, were finding it much easier to do business with democratic India than China, where laws relating to Intellectual Property Rights were breached in many cases,'' he said while participating in a seminar on SMEs organised by the Hyderabad Management Association jointly with Konrad Adenauer Foundation of Germany and Madras Management Association.

After going through stagnation for some time, the German economy grew by 2.8 per cent this year as against 2.5 per cent last year, largely with the contribution of the SMEs. There had been a shrinkage in growth in the large industries, which had laid off over three million people, the ruling Christian Democratic Union leader said.

Inviting more industrial investments to the state, particularly in the SMEs sector, Andhra Pradesh Energy Minister Mohd Ali Shabeer said that 2000 MW additional power would be added to the state grid by next year when gas was expected to be supplied by the Reliance Industries Ltd for the power plants.

Highlighting the features of the new industrial policy, he said power was being provided to industries at a concessional rate.

He promised to take up any issues relating to infrastructure with Chief Minister Y S Rajasekhara Reddy and resolve them.

UNI