India seeks greater business ties with Germany to spur growth to 8 percent: PM

New Delhi, Apr 10 (ANI): Prime Minister Dr. Manmohan Singh on Wednesday said he intends to seek greater business ties with Germany as India continues to take steps to boost domestic investments, attract foreign capital and spur the economy back to its long-term growth potential of eight percent.

In his departure statement before leaving for Berlin, Dr. Singh said: "Germany is our largest economic partner in Europe and one of our key global partners for trade, investment and technology. I intend to seek greater trade and investment ties with Germany, as we continue to take steps to boost domestic investments, attract foreign investors and spur the economy back to its long term growth potential of eight percent."

"Germany is also a key partner for us in areas like infrastructure, manufacturing, science and technology, higher education, vocational training and clean and renewable energy. We expect to sign a number of agreements and Memorandums of Understanding in these areas. I will seek Chancellor Merkel's support for an early conclusion of a balanced India-EU Broad-based Trade and Investment Agreement. I will also propose that Europe keep its doors open to Indian investors and professionals," he added.

Noting that Germany plays a key role in the global economy and, in particular, in stability and growth in the Euro Zone, which has an important bearing on the Indian economy, Dr. Singh said at a time of persisting global economic weakness and uncertainty, he looks forward to discussing these issues with German Chancellor, Dr. Angela Merkel.

" We will also discuss our shared interests in United Nations Security Council reforms and a broad range of global developments, including with respect to Afghanistan, West Asia and the Asia Pacific region," he said.

Asserting that India remains committed to a close, cooperative and mutually beneficial partnership with Germany, Dr. Singh said: "The Inter-Governmental Consultations, first held in May 2011 in Delhi, provide a useful forum for discussions on the full spectrum of our relationship and have helped advance Indo-German cooperation in a broad range of areas."

"We attach high importance to our strategic partnership with Germany, which rests on solid foundations of shared values, centuries-old intellectual and cultural engagement, expanding opportunities for bilateral cooperation and growing convergence on international issues," he added.

Dr Singh further said during this visit, he will call on the President of Germany, Joachim Gauck.

"I will also participate in the closing ceremony of the 'Days of India in Germany,' which was organized to mark the 60th anniversary of the establishment of diplomatic relations between India and Germany," he added.

Dr. Singh is accompanied by the External Affairs Minister Salman Khurshid, Minister for Science and Technology Jaipal Reddy, New and Renewable Energy Minister Farooq Abdullah and Human Resource Development Minister Pallam Raju. (ANI)


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