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India-Germany trade to reach â¬20 bn by 2012: PM
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SME Times News Bureau | 01 Jun, 2011
Prime Minister Manmohan Singh Tuesday said that two-way trade between India and Germany would reach the target of 20 billion euros per year by 2012.
"It (Germany) is amongst the largest foreign investors in India. Our bilateral trade was more than 15 billion euros last year, and is on course to reach the target of 20 billion euros per year by 2012," Singh said after meeting German Chancellor Angela Merkel in New Delhi on Tuesday.
Four pacts to expand their cooperation in areas relating to education, research and nuclear physics were signed Tuesday after wide-ranging talks between Prime Minister Manmohan Singh and German Chancellor Angela Merkel.
Singh said India wants greater German investment in infrastructure, high technology, energy and basic and applied sciences.
"... India offers a stable and friendly investment climate and a large growing market. I welcome the progress that is being made on the issue of high technology exports from Germany to India. This will benefit both economies," the Prime Minister said.
Meanwhile, a CEO's Roundtable, organized by industry body CII and Indo-German Chamber of Commerce (IGCC) and other industry association in New Delhi yesterday also viewed that there are tremendous potential for cooperation between India and Germany, especially in the areas of infrastructure, environment and dual education.
Germany is India's largest trading partner in Europe, with bilateral trade estimated to be 15.5 billion euros. Germany has invested 2.7 billion euros in India. The two sides set target of scaling up trade to 20 billion euros by 2012.
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indo-german relations in future
kamal Taori | Sun Jun 12 17:21:28 2011
It is right time to be business like and learn from the mistakes of the past. We must now get away from stereotyped business priorities to hidden potentials of learning from Germany. The forests, sports, culture, planning, leadership, education of all types, organic movement,banking, active media,missing hypocarcy ,openness of the systems, work culture,position of women in society, grassroot level governance,recycling, wast management,role of civil service and their accountability,use of infrastucture,preparedness to learn,accountability of the politicians,commitment to national cause, sports,role and professionalism of the teachers, aggressive networking and there is much more to learn and make a part of our long term planning for business with them. It is pity that the embassy of India in Berlin does not reply to any letters and full of useless personnel. No coordibatio and no interest. We with our German partners have been documenting lessons for future business potentials but the data is not with our embassy. Same way documentation of earlier trade efforts are also missing. The cultural and historic ties with Germans should be fully used to build people and business propelled relations and should not be only in the hands of organised looters.It is also must that a new line based upon involvement of the states and people is used to make a new plans for relations with the dyanamic country Germany. We are looking for partners to market the unmarketed areas for action.
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