751-Sabar Institute Of Management, Tajpur - Gujarat Technological ...

that consistently invest in research, innovation and skilled workers will be able to weather
today's difficult economic climate.
Germany has a long tradition of being a leader in innovation. But Germany also faces global
competition as it strives to reinforce its position as a world-class hub for technology. And this
competition is only getting tougher: many countries - especially fast-growing Asian economies
such as China, South Korea and India - are catching up in their development and application of
sophisticated technology.
Nevertheless, Germany is well-equipped to face the challenge: in 2009, research and
development accounted for a 2.8% share of German GDP. This is one of the highest R&D rates
in the world, surpassing the United States for the first time since 1989.
Over 31,000 companies in Germany engage in ongoing R&D activities, and this provides a
strong basis for a positive climate of innovation.
In these activities, companies can draw on the expertise of numerous internationally renowned
research institutes (such as the Max Planck Society, the Fraunhofer-Gesellschaft, the Helmholtz
Association of German Research Centres, the Leibniz Association, and research facilities
associated with government ministries) and universities.
International comparisons highlight Germany's innovative prowess: Germany placed 4th in the
European Commission's Innovation Union Scoreboard 2010 (behind only Sweden, Denmark and
Finland) and thus ranks among the EU's top nations when it comes to innovation.
Exports of technology-related products already have access to a wide variety of government
instruments to support foreign trade and investment, such as Hermes export credit guarantees and
investment guarantees.
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