German companies are going to invest in Indian High-­Tech market, according to a study by Federation of Indian Chambers of Commerce and Industry (FICCI), Embassy of India and Ernst & Young.

The study identified the High­-Technology sectors that are suitable for a collaboration between India and Germany. This collaboration will enhance trade and investments between the two countries and will anchor Narendra Modi's 'Make in India' initiative.

Siddharth Birla, Immediate Past President, FICCI and Chairman, Xpro India Limited said, “As a strategy, there was a need to improve India's share of high tech manufacturing and bring about R&D orientation to take a leap towards achieving a greater level of economic growth.”

“Germany is a technology leader and compliments India's ambition in Hi-­tech manufacturing,” he added.

Electronic System Design and Manufacturing (ESDM), photonics, IT, automotive, civil aviation and airports, transportation infrastructure, water, renewable energy, heavy engineering, biotechnology, pharmaceuticals, space and defence manufacturing are the sectors that this collaboration will determine.

India and Germany are suitable for a healthy and suitable partnership, according to the report. This partnership is said to benefit both the countries and enhance their mutual growth.

Germany's high­tech features and India's young and high quality man­power will be collaborated to extract the best result possible.

The key factors of the report were as follows:

1. German companies are inclined to invest in the Indian High­-Tech market.

2. India is assumed to be the highest performing country among the BRIC markets.

3. There is a high market readiness in India for High­-Tech products.

4. Indo­-German collaboration in High­-Tech manufacturing can become an important part of the 'Make in India' initiative.

5. A set of challenges are impacting German companies' investment decisions.

6. Seven High­-Tech sectors offer greatest convergence for Indo­-German collaboration.

7. India has strong IT and Space sector capabilities that German companies could benefit from.

8. Recent government of India initiatives in FDI, ease of doing business and infrastructure can significantly impact the business environment in High­-Tech sectors.

9. Indo­-German collaboration in High-­Tech Manufacturing has the potential to favourably impact both economies.