Sun, 28 Oct 2012 13:30:00 GMT | By IANS

'German companies excited by Indian reforms'

New Delhi: India's decision to open its doors to foreign investment in multi-brand retail and other economic reform measures have created an attractive situation for foreign players, much like a "beauty contest", and German companies are keen on long-term strategic investments in India, the country's envoy has said.

'German companies excited by Indian reforms' (© Reuters)

The decision to allow multi-brand retail and also to attract foreign investment in pensions and insurance "are attractive for companies, and create a good psychological effect on them to invest further," German Ambassador Michael Steiner told IANS.

The opening up of the economy "has created a situation that is like a beauty contest.. It has led to a good investment climate.. This helps build investor trust and confidence," Steiner said.

The upcoming Asia-Pacific Conference (APK) of German Business Nov 1-3 in Gurgaon will see 800 CEOs of German companies arriving in India, said Steiner.

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