PM to hardsell reforms,woo German investorshttps://indianexpress.com/article/news-archive/web/pm-to-hardsell-reforms-woo-german-investors/

PM to hardsell reforms,woo German investors

Accompanied by a high-level ministerial delegation,the PM will be visiting Germany to participate in the second round of Intergovernmental Consultations.

Showcasing India as a lucrative investment destination,especially in the backdrop of a renewed impetus on economic reforms,will be high on the agenda of Prime Minister Manmohan Singh as he leaves for a three-day visit to Germany on Wednesday.

Accompanied by a high-level ministerial delegation,the PM will be visiting Germany to participate in the second round of Intergovernmental Consultations. The first round was in New Delhi in 2011. India has this kind of engagement only with Germany.

While the two sides are likely to sign a host of agreements and Memorandum of Understanding (MoU) in the field of education including vocational education,science and technology and green energy,the two sides would strive to achieve some tangible progress on India-EU free trade agreement,called Bilateral Trade and Investment Agreement (BTIA),which has been under negotiation for the past six years. (See page 15)

The two sides would work on laying a further roadmap for mutual cooperation,especially in the field of science & technology,vocational training programmes,technology transfer in electric transport,Green Energy Corridors,etc.

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The Prime Minister is,however,set to use the opportunity to apprise German investors about how his government has taken a string of measures to make India an attractive investment destination. “Certainly,the Prime Minister would use the opportunity of his discussions with the German Chancellor and in the Intergovernmental Consultations to clarify the steps taken by India to improve the investment climate in our country and to emphasise that the reforms process is on track and that a number of steps have been taken including setting up a Cabinet Committee on Investment. I cannot second guess what the Prime Minister might say about the future but,certainly,the very large number of steps which we have taken in the past would be clarified,” said Foreign Secretary Ranjan Mathai.

He pointed out how Finance Minister P Chidambaram has visited a number of countries to promote investment. “This is part of an ongoing engagement with the world at large and we certainly do regard Germany — Europe as a whole but Germany specifically — as potentially a country which could invest much more heavily in India,” said Mathai.