Billion-Euro Economic Stimulus Cooperation with India: High-Tech Companies in Focus

Earlier today, our law firm entered into a cooperation agreement with one of India’s leading companies in order to support European companies entering the Indian market.

The background to the matter is that German Federal Chancellor Angela Merkel and Indian Prime Minister Narendra Modi announced an economic stimulus programme one day earlier, with annual funding of at least EUR 1 billion (see online). The effects of the programme can already be felt today, as several leading Indian companies also attended the German automotive trade fair held at the Nuremberg exhibition centre.

The event focuses precisely on high-tech developments such as the use of renewable energy, smart city projects and solar energy. In addition to receiving particular attention in the economic stimulus project, these areas are also key strengths of the Nuremberg Metropolitan Region, where our law firm is based. For decades, the region has actively promoted the development of these technologies by involving foreign companies — including Hungarian companies — as intensively as possible (see in detail: https://www.nuernberg.de/internet/wirtschaft/innovationspakt.html).

Following the federal government’s initiative, our law firm also entered into negotiations with one of India’s leading companies, with which we concluded a long-term agreement. Under this agreement, our firm will coordinate the market entry of interested European companies into India. In this way, our firm will serve as a gateway, providing European companies with “one-stop” case management in line with German standards. Our partners confirmed that, in addition to German companies, they also welcome interested companies from other European countries with similarly high standards, including Hungarian companies.

We are pleased that, in addition to our existing Middle East desk, we can now also support the Indian business activities of our existing and new Hungarian partners.