German Minister discusses emerging bilateral investment opportunities in Chennai

Chennai, Sep 29 (ANI): David McAllister, Minister-President of Lower Saxony, currently on a visit to India, discussed emerging bilateral investment opportunities at a seminar here on Tuesday.

Speaking to the media, McAllister said that the firms from Lower Saxony are keen to invest in India as they consider it to be one of the fastest growing economies.

"The idea of these trips we do from Lower Saxony to other parts of the world be it China or India or Brazil is to open our eyes and to find new contacts and new friends. And there are quite a number of firms from lower Saxony already on the Indian market, I guess the most important firm is Volkswagen VW which belongs to 20 per cent of the bids of our state and other firms are...We want to motivate more firms from Germany to invest in Indian market because we know you are one of the fastest growing economies of the world." said McAllister.

RRB Energy Limited one of the world's leading manufactures of Wind Electric Generator (WEG's) launched one of its made in prototype blade for 1.8 MW WEG.

McAllister further added that the expertise of the firms could help India reshuffle the energy structure system.

"Lower Saxony is leading when it comes to mobility. We are leading when it comes to transportation, and we are also leading when it comes to renewable energies. So what we really want is that more firms especially mid size firms from Lower Saxony come to India because we think we have got quite a lot of expertise which we can give to India to help you reshuffle the structure of your energy system." said McAllister.

Meanwhile, Rakseh Bakshi, Chairman and Managing Director, RRB Energy said in order to generate profit in the energy sector, India needs to take help from Germany and follow their guidelines.

"So we have a very competitive market right now, its now really something that we are worried about because conventional energy is becoming more and more expensive, our curve is dipping down. Our scale of economy sets in. I think that's what you did in Germany. You produce thousand of megawatts, your cost drops down." Bakshi said.

RRB energy is a global leader of the wind energy sector. It produces energy at lower cost with state of the art technology involving highly skilled management capacity. (ANI)