The Indo-Bavarian bilateral relationship has been growing rapidly over the last several decades and India is considered as a reliable and promising economic partner by the Bavarian companies
Bavaria, a state in southeastern Germany, is inviting Indian startups to explore business horizons by forging new alliances in the form of technology, business collaborations and exchange of ideas in the sector of Information Technology, especially in the segments of Internet of Things (IOT) and Artificial Intelligence (AI).
Bavarian representatives put forward the proposal during the Invest Bavaria event organised by the Bangalore Chamber of Industry and Commerce (BCIC) in Bangalore, according to a report in IndianWeb2.
Over 40 industry captains representing different industry verticals interacted with Bavarian representatives to explore business opportunities at the event.
Bavaria keen on having business tie-ups with Indian IT startups
Quintus Bartscherer, Managing Director, QUBA GmbH, made a presentation on business opportunities in Bavaria. “We have developed a legal framework for business entities to establish in three different segmentations namely Representative office, Branch office or a Corporation that facilitates and guarantees protection of investments because we are interested in developing a long-term relationship with investors,” he was quoted as saying.
John Kottiyal, Executive Director, State of Bavaria-India Office, Bengaluru said that the Indo-Bavarian bilateral relationship has been growing rapidly over the last several decades and Bavarian companies, on their part, consider India as a reliable and promising economic partner.
Bavaria is also opening its doors to sectors like Pharmaceuticals, Medical technology, Automotive and Engineering, among others with Bavarian counterparts.
Commenting on the proposal from Bavaria, Kishore Alva, President BCIC & Joint President and Executive Director, Adani – Udupi Power Corporation said, “Bavaria has the highest number of startups, while Bengaluru is considered a Mecca for start-ups contributing to a sizeable number of new ventures launched in India. It makes pure business sense for both partners to collaborate and explore business opportunities,” he added.
Alva also assured Bavarian representatives that Indian startups would work with them to support their country’s business agenda.