Good time for European companies to invest in India

Europe-India Technology Pitching Day

Aurangabad, Jan 5:

It is a good time for European companies to invest in India as the Government of India is ready to provide all possible assistance for the investment. Government has encouraged investment in India under the Make in India initiative, which has seen many changes taking place due to the technology based industry through startups, said Rahul Nair, vice president, Invest India.

He was speaking at the Europe-India Technology Pitching Day jointly organized by the European Business Technology Center and Marathwada Accelerator for Growth and Incubator Council (Magic) in a webinar on Wednesday. The summit is aimed at promoting information exchange and networking opportunities for technology companies between Europe and India and to support the strategic dialogue, supported by the European Cluster Collaboration Platform.

Speaking further, Nair said that there are more opportunities for innovative investment in smart city projects. Startups are registered in 638 districts of the country and 13 per cent of the total startups are working in the field of Information Technology and Artificial Intelligence. Magic director Ashish Garde said that Magic works for innovative innovators with the help of technology. He also said that the organization is ready to help companies that want to come here from Europe. As Magic is also part of the Enterprise Europe Network, European startups seeking to come to India will benefit from the investment, said Joel Fernandes, EBTC's Europe project head.

Five companies did the pitching

Five European companies including Helioz GmbH, Coldsense Technologies, XLIT Finance and Logistics, Tracto-Technik GmbH and Specter Solutions working in the fields of smart cities, technology based advanced products, clean energy, digital economy and emerging technologies gave detailed information about their products and investments in India.