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Bremen in Germany is investment destination for Indian companies: CII survey

Over 200 Indian companies from textiles, leather and auto components sectors have expressed interest in setting up a permanent base in the German federal state of Bremen, a survey has revealed.

The Indian companies are also from electronics, software, chemicals and pharmaceutical sectors, according to the survey conducted by the Confederation of Indian Industry.

Bremen is an excellent gateway to northern, eastern and central Europe (a combined market of 670 million people). This is what has been most attractive to Indian companies. The state of Bremen (consisting of the port city of Bremen and the seaport of Bremerhaven) is an international trade hub.

Bremen offers developed infrastructure, two of the most efficient ports in the world, the largest self-contained container terminal in Europe and the world's longest quay, good air, water, road and rail transport links, telecom infrastructure and a sophisticated range of trade-related services, especially in logistics. Subsidies of up to 28 per cent of total investment volume may be granted.

In order to facilitate the setting up of Indian companies in Bremen, the CII's Bremen office, in conjunction with Bremen Business International, the investment promotion agency of the state of Bremen, has set up a comprehensive business support service.

The CII will help Indian companies in identifying European partners. It will assist Indian exporters in organising conferences, seminars, delegation visits and provide information to Indian industry about European business events, visits of experts, etc. The BBI provides assistance in setting up offices in Bremen, registering companies, obtaining residence and work permits, etc.

Indian investors seeking to launch operations in Bremen can avail help at the 12 European offices of the BBI.

Of the companies that expressed interest in locating in Bremen, 58 per cent wanted assistance in setting up an office or registering a subsidy, 12 per cent wanted assistance in setting up warehousing and distribution facilities and 30 per cent wanted assistance in penetrating European markets, according to a CII statement.

UNI

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