Indian Finance Minister, Shri P. Chidambaram, has called upon the German investors to invest in a wider variety of value added and high technology ventures in India. Inaugurating the 15th Session of the Indo-German Joint Commission on Industrial and Economic Cooperation, the Finance Minister said that there is a vast range of possibilities for bilateral economic, commercial, industrial, scientific and technological cooperation between the two countries. He urged that specific problems faced by the business and industry of both the countries should not impede bilateral broader economic, industrial, commercial and trade cooperation from moving rapidly forward.
Chidambaram stated that German small and medium enterprises (SMEs), which are strong in clean technologies, especially in the field of ceramics, leather, textiles, pharmaceuticals, chemicals and waste management, will find it cost effective to co-produce in India by transferring technical know-how and managerial knowledge, and by investing in Indian SMEs.
Responding to Shri Chidambaram’s speech, German Minister of Economics and Labour Mr. Wolfgang Clement assured that Germany will play its part in India’s ongoing integration into the world economy. He said that Information and communications technology, chemicals and pharmaceuticals, bio-technology, environmental protection are the key sectors that can offer fresh possibilities for cooperation.
