India,Germany agree to take business partnership forward

India and Germany have taken a new step forward to boost trade and investments between the two countries.

India and Germany have taken a new step forward to boost trade and investments between the two countries. Both the countries agreed on the establishment of a hotline between the commerce and industry ministry in India and the federal ministry of economics and technology in Germany to facilitate resolution of any business-related visa issues that may arise from time to time.

The two sides also agreed on cooperating in multilateral trade for combating protectionist tendencies that have emerged recently. This was the outcome of the three-day visit of commerce and industry minister Anand Sharma to Germany last week.

In Berlin,Sharma held a bilateral meeting with German federal minister of economics and technologies Rainer Brüderle. We discussed about the hotline to resolve visa issues. We also shared the concern on the trend of protectionism,” Sharma said.

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Sharma who also visited Düsseldorf and Berlin heading a delegation of CEOs under the banner of Ficci,emphasised on the strategic partnership in innovation between India and Germany. Discussions focussed on taking Indo-German collaboration forward in key areas such as knowledge sectors like ICT,energy including renewable energy,cutting edge technology including environmental and green technology,life sciences and biotechnology,nano-technologies,small city and integrated townships,besides further enhancement of ongoing cooperation in infrastructure,manufacturing and engineering.

Sharma suggested further strengthening of institutional linkages especially between economic research and policy institutes in India and their German counterparts. Such linkages could be established between institutes such as German Institutes of Economic Research in Berlin,the Ifo Institute of Economic Research in Munich,Kiel Institute for World Economy and the Halle Institute of Economic Research Partners and,on the Indian side,the National Council of Applied Economic Research (NCAER),Indian Council for Research on International Economic Relations (ICRIER),and the Gokhle Institute of Economic and Politics in Pune.

Sharma delivered a special address as part of the Konrad Adenauer Lecture Series on An Emerging India: Expanding Economic Frontiers at Humboldt University.

Indian CEOs also held B2B meetings with their German counterparts. Around 150 German businessmen attended these meeetings. Were happy with the discussions and hopeful that it would translate into big business,” Ficci member and Hindustan Tin Works managing director Sanjay Bhatia said.

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Meanwhile,Sharma said India is likely to sign a comprehensive economic partnership agreement with Malaysia and Japan soon. This is likely to be signed when Prime Minister Manmohan Singh visits these countries for bilateral talks.