Business Standard has a report pointing out that Pune has become a favorite destination for German companies to set up a development/manufacturing center in the last few years.
According to Zubin Kabraji, regional director, Indo-German Chamber of Commerce, Pune is the single largest hub for German companies from the last 60 years. Over 225 German companies have set up their businesses in Pune. The total investment made by these companies in Pune is around 650 million Euros.
By end of July 2012, this figure will cross the mark of 300 companies who will be investing around 200 to 300 million Euros more in Pune.
With major investments in the manufacturing and automobile sectors, there are over 175 JV that are engaged in Pune. Companies like Mercedes Benz, Volkswagen, Siemens, Thyssen Krupp and Schaeffler are some of the key German companies engaged in Pune.