German SMEs to set up common standards

German SMEs to set up common standards

New Delhi: German small and medium enterprises’ (SMEs) will set up common standards for Indian SMEs and will increase their presence in India, said Angela Merkel, Chancellor, Federal Republic of Germany and President of European Council, at a meeting organized jointly by CII, Assocham, Ficci and the Asia-Pacific Committee of German Business (APA).

Germany will broaden its relationship with India and infrastructure, military cooperation and development of financial institutes would be key areas of interest for investment.

With vast experience and local knowledge of development cooperation, younger talent could be identified to meet these needs.

Renewable and clean energy technology is a key area of concern for EU and Germany is willing to assist India with technology and investment to jointly foster clean energy solutions.

The Chancellor further proposed that vocational training for Indian manpower can be taken up by German companies planning to set up businesses in India.

The partnership has greater relevance since India has a constructive role to play in the Doha Round and issues related to agricultural subsidies, services and intellectual property rights can accordingly be taken up.

Indo–German trade target of 10 billion Euros set for 2010 has already been achieved, announced Kamal Nath, minister of commerce and industry, adding that there is great convergence in WTO negotiations and that Doha rounds can be successful if sensitivities of all countries are considered. He suggested that MSMEs of Germany should have greater engagement with India and more business delegates from German SMEs should visit to explore business opportunities.

Hambrecht, President, APA said that the two countries should develop a strategic partnership agreement wherein German companies could advocate an open market for flow of FDI and a rapid conclusion of the Economic Partnership Agreement (EPA).