India to participate in Hannover Fair
India will after a gap of 22 years participate as partner Country in the prestigious Hannover Fair in Germany.india Updated: Feb 22, 2006 12:15 IST
India will after a gap of 22 years participate as partner Country in the prestigious Hannover Fair in Germany, for which the Cabinet Committee on Economic Affairs (CCEA) has approved an expenditure of Rs 24 crore.
Of the total expenditure, Rs 9 crore would be raised through renting of exhibition space and the remaining Rs 15 crore would be provided by Government as financial assistance under the Market Access Initiative (MAI) scheme, Finance Minister P Chidambaram told reporters.
"The invitation to participate in the Hannover Fair was extended by German Chancellor, who has also invited Prime Minister Manmohan Singh to jointly inaugurate the fair," he said.
The Hannover Fair would be held from April 24-28, 2006.
CCEA yesterday evening gave its approval for financial assistance of upto Rs 15 crore (on actual basis) to Engineering Export Promotion Council (EEPC) for organising India's participation as Partner Country in the Hannover Fair from the MAI Scheme in relaxation of the ceiling of Rs 50 lakh as assistance, an official statement said.
The main display categories at the fair include process automation, factory automation, industrial facility management and services, energy, pipeline technology, digital factory, micro technology, research and technology, sub-contracting and industrial building automation.
"India will gain recognition of its technology players in myriad industrial segments. Participation would consolidate the country's close economic and political ties with Germany, the powerhouse of the European Union," the statement said.
It enjoys a commanding role globally for expanding business in industrial engineering and has emerged as the event to present ground-breaking innovations.
India was invited as the Partner Country at Hannover Messe in 1984 and now after a gap of 22 years, India has again been invited to the Fair, he added.