Germany keen to help India in modernisation process

Germany keen to help India in modernisation process

Berlin: Germany has sought to enhance its economic ties with India by investing in the infrastructure field with its cross-sector expertise and modern technologies.

“We want to make use of the dynamism in the German-Indian economic relations and strengthen it further," said Michael Glos, Federal Minister for Economics and Technology, while attending 16th session of German-Indian Economic Commission here on Tuesday evening.

“Politics and industry see a still greater potential for expansion both in bilateral trade and in investments, which we should use for mutual benefit.

“German industry, as a longstanding and reliable partner, is ready to participate in the modernisation of the country, with its cross-sector expertise and most modern technologies, in particular in the infrastructure field," he said.

The Commission, aimed at strengthening trade relations between the countries, is headed by Glos and Indian Finance Minister P Chidambaram. The trade between the countries grew by 38.7% this year amounting to 10.54 billion Euros.

The interests of German companies range from construction of express roads and power plants to the construction or reconstruction of ports and airports to setting up of a telecommunication network linking the entire subcontinent, he said.

The Indian Government and leading Industrial Associations - FICCI and CII - are also banking on further expansion of the German-Indian economic relations. As Partner country at the Hanover Trade Fair 2006, India attracted the attention of the German industry with presentation of over 320 exhibitors.