India Provides Numerous Opportunities For German Investments

17 Feb 2014

Pranab Mukherjee, President of India, recently said that there are numerous opportunities for improved investments from Germany in India’s physical infrastructure, and highlighted that Germany is the most essential economic partner of India in Europe. A banquet was hosted in the honor of Joachim Gauck, the visiting German President, and speaking at the banquet, Mukherjee said that more and more Indian companies are venturing into acquisitions and investments in Germany.

Mukherjee said in his speech that in its physical infrastructure, India detects numerous opportunities for improved German investments. He also added that India is looking forward to the cooperation of German SMEs (Small and Medium Enterprises) in the growing consumer market of India.

He said that the bilateral trade between Germany and India in 2012 was Euro 17.5 billion but the potential to boost commerce between both the countries is much more than that. Underlining the strong partnership between Germany and India on international and regional issues, Mukherjee said they must keep going with their efforts for an elementary reform of the United Nations Security Council (UNSC) and other multilateral institutions that mirror present realities.

The Rashtrapati Bhavan said in a press release that according to Mukherjee, Germany is not just celebrated as India’s biggest trading partner in Europe, but Germany development assistance is also highly important to India.

The President said at the banquet that advanced technology is brought into India because of the assistance and it has also enhanced the energy efficiency of India while cultivating alternative sources of renewable energy. Mukherjee described Germany as a good, long standing friend, and said that India attaches high priority to the strategic partnership of Germany and India based on shared values.

He said that both Germany and India are bastions of freedom and democracy having a shared respect for a free media, rule of law and rights of individuals. For his personal contribution and commitment to the promotion of human rights and democracy, Mukherjee applauded the German President and said that he is certain that, in that strategic partnership between both countries, his visit will be a critical milestone, and will set the agenda for joint endeavors in the following days. Joachim Gauck said India is an important partner and the path to modernity which is followed by India is highly admired.

He said that a prosperous India, which provides its citizens the opportunity to live their lives in freedom and peace, transmits a critical message to Asia and certainly to the entire world. He added that this kind of India stands for the benefits of an open society, for democracy and for pluralism. The German President said in his speech that the close coordination of Germany and India on global issues like climate protection, security, global trade and development, is very important.