Nasscom has signed a memorandum of understanding (MoU) with NRW.Global Business to promote innovation, investment and technological exchange between North Rhine-Westfalia (NRW) in Germany and India.
The state-owned foreign trade promotion agency NRW.Global Business is the partner for all companies when it comes to investment projects and settling in North Rhine-Westphalia as well as the development of foreign markets for North Rhine-Westphalian companies and networking with international business partners.
Nasscom, is the apex body for the $245-billion technology industry in India having over 3,000 member companies constituting 90 per cent of the industry’s revenue. The MoU will lead to the establishment of the first Nasscom launchpad in Germany, following its success in the UK.
“We are delighted to announce the expansion of our launchpad program in Germany. We believe this initiative will significantly boost Indo-German trade relations, reinforcing the ongoing FTA negotiations between India and the EU,” stated Shivendra Singh, Vice President & Head of Global Trade Development at Nasscom.
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This program serves as a tangible commitment to facilitate on-the-ground trade ties, particularly benefiting smaller tech companies by reducing their initial setup costs and elevating their market credibility in Germany. With this expansion, we are taking a proactive step towards strengthening the partnership between our nations, he added.
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The arrangement will provide Indian tech companies, interested in setting up their presence in NRW to have access up to 180 days rent-free office space within offices based at 5 cities in NRW namely: Cologne, Düsseldorf, Essen, Krefeld and Solingen, where a number of tech-focused companies are already based.
The companies will also be assisted with eco-system connects, introductions across stakeholders and other hand-holding mechanisms to aid in “Faster Go-To-Market”. Nasscom will actively promote the proposition among its membership base.
Published on November 24, 2023
