Arti BaliNew Delhi, Jan. 9 -- In a significant vote of confidence for India's manufacturing ambitions, Germany's 75-year-old Remmers Group has partnered with Indian coatings leader Teknovace in a Rs 300-crore joint venture, positioning India as a "global export hub for high-performance coatings" serving markets across Europe, Africa, and Southeast Asia.
The deal marks a strategic shift for the German industrial giant, which deliberately chose India over other international locations as rising costs squeeze European manufacturers. "The Indian market emerged as the most favorable option," said Dirk Sieverding, CEO and owner of Remmers Group, citing India's "entrepreneurial dynamism," "strategic location," and "stable trade relationships."The...