SME Times is powered by   
Search News
Just in:   • Markets open on a positive note Wednesday morning  • Nelco brings in-flight communication to India  • Taxing retirement income of employees a retrograde step  • 'Listed realty firms log steady sales growth in Q3FY20'  • Facebook invests in Indian education start-up Unacademy 
Last updated: 27 Sep, 2014  

EU.India.9.Thmb.jpg Keen interest in completing Indo-EU FTA: German envoy

EU.India.9.jpg
   Top Stories
» Exports from SEZ achieve $100 bn mark in 2019-20
» Centre may withdraw SEIS scheme for service exporters
» 'Women entrepreneurship can create 150-170 mn jobs in India'
» Sitharaman allays industry concerns on price rise
» Use of waterways can make Indian exports competitive: Gadkari
SME Times News Bureau | 04 Oct, 2012
The German envoy to India Wednesday said the business communities of both countries have shown tremendous interest in completing the India -European Union (EU) free trade agreement (FTA).

"I have seen tremendous interest from the business communities of both sides on completion of the FTA. Both sides endorsed the need to put in a final effort to fulfill the modalities," Germany's Ambassador to India Michael Steiner said here.

Steiner recently attended Indo-EU business delegation, which is advising their respective governments on the completion of FTA.

The ambassador was addressing the media on the eve of the national reunification (unity) day of Germany. The erstwhile East and West Germanies were reunited on Oct 3, 1990.

Steiner said that the negativity surrounding the investment environment in India can also be resolved with an early agreement on the FTA between India and the European Union (EU).

"Europe is facing problems, India is also facing certain challenges. These issues can be addressed if an early resolution is found on FTA. A strong Europe as the largest trading partner of India is good for you and a strong India is good for us," said Steiner.

The ambassador also elaborated efforts being made by EU countries for resolving the European debt crisis, including the use of two major instruments like the European Stability Mechanism (ESM) and the Fiscal Compact.

"Europe's fundamentals are pretty strong and studies have shown that some European countries are the most competitive in the world. We have come far and taken certain measures like ESM and Fiscal Compact. There is also a financial umbrella worth $1 trillion," Steiner added.

The ESM provides for buying up to 780 billion Euros (around $1 trillion) sovereign bonds of euro zone countries which are under financial stress. The Fiscal Compact envisages a singular economic governance policy for the euro zone including monetary policy, and further integration.

Steiner said Indo-German trade will reach the Euro 20 billion-mark by end of 2012 despite the current Euro-zone crises.

Major German automobile manufacturers like Audi, BMW, Mercedes and Volkswagen Group are present in the country. They have achieved healthy growth numbers, while the rest of the Indian auto industry faced a downturn.

Apart from automobiles, technology company Siemens, airline major Lufthansa and many other companies are present in the Indian market.

The envoy added that India and Germany had a lot of mutual interest areas like safety and security.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 19 Feb, 2020
  Daily Poll
Ease of doing business improved in last one year
 Yes
 No
 Can't say
  Commented Stories
» MSME credit gets a boost (2)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter