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Germany ready to transfer transport technology to India


New Delhi : Germany wants India to source technology from it for the transport sector, especially the railways, said Wolfgang Tiefensee, the German minister for transport, building and urban affairs, here Friday.

“The technology transfer to the Indian Railway was a major subject when our government representatives visited India early last year. He met the railway authorities and discussed a PPP (public-private partnership) project for upgrading the infrastructure of Indian railways,” Tiefensee said.

“We provide adequate ambience for companies and sectors who are willing to jointly work with our projects. We support them with operational help and provide subsidy up to 50 percent,” he said.

The German minister said both countries would benefit from cooperation, and that technology being his country’s USP, India can have higher expectations.

Moreover, Tiefensee said, German technologies relating to renewable energy and biofuels energy could also be of interest to India.

Elaborating on the situation prevailing in Germany owing to the economic slowdown, he said his country had a stable financial market like India.

“We have a financial system based on three pillars – private, local and state banks. This has minimised the financial crisis. We have a very good savings system that has prevented us from any crises,” he added.

He also said the German government has provided a 50-billion euro rescue package to fund infrastructure, education and research-based sectors.