(Image source from: India offers better investment climate than other BRIC countries: Survey})

According to a survey conducted by the Indian embassy in Berlin in partnership with EY, the German companies have rated India as the best performing country among the BRIC markets. The EY Delphi has studied "Prospects for Indo-German collaboration in hi-technology manufacturing".

According to the 94% of the surveyed CEOs and CFOs from leading German hi-tech companies, India is offering better investment environment than other three countries (Brazil, Russia and China) in BRIC. This particular report was released by Indian Prime Minister during his visit to Germany. The study was particularly emphasized on the feasibility of strengthening the Indo-German collaboration in investor-related sector information.

The survey has nine key findings. It revealed the readiness of German companies to invest in India. "Investors recognise India's market growth, large market size and efforts to attract FDI. Perceived obstacles, meanwhile, are infrastructure, administration and regulation. Out of 13 high-tech manufacturing sectors analysed, seven offer greatest convergence for Indo-German collaboration: the electronic systems design and manufacturing (ESDM) sector, the automotive sector, civil aviation and airports, transportation infrastructure, water, renewable energy and heavy engineering," said the report.

The participants in the survey also identified the potential of Indian market and the attitude of middle class income groups.

"To further stimulate collaboration between Europe and Asia –and in particular between India and Germany – it is important to build and improve institutionalised bilateral mechanisms. An improved business environment will have immediate positive effects on collaboration and create further opportunities for investment. It will also create spillover for adjacent sectors, while medium- and long-term investment will generate multiplier effects, with positive effects on both economies," the survey said.

The survey also came across the major challenges in the clearance and investment routes like regulatory procedures, FDI norms, stringent tax system and limitations in infrastructure. The Make in India and digital India are major attractive platforms for the foreign nations to test their luck in Indian market. Indian government is eying to accommodate unemployed youth in various sectors including the foreign firms in India by imparting required skills.

BRIC has become BRICS, after South Africa joined the BRIC in the year 2010.

- Kannamsai