The Hindu Business Line : Seven pacts with Germany signed

Science train flag-off: The German Chancellor, Ms Angela Merkel, with the Prime Minister, Dr Manmohan Singh, at the flag-off of the Science Express train in the Capital on Tuesday. —

Our Bureau

New Delhi, Oct 30

The German Chancellor, Ms Angela Merkel, on Tuesday called for doubling trade volumes between India and Germany to €20 billion by 2012.

Addressing a joint press conference with the Prime Minister, Dr Manmohan Singh, the German Chancellor said that business and economic relations were the driving force behind co-operation between India and Germany. During the address the Chancellor pointed out that the target of bilateral trade reaching €10 billion was achieved ahead of target during 2006 itself.

When questioned on the problems Indians face in getting a German visa, Ms Merkel said that while there had been an increase in the number of students going to Germany in the past few years, steps must be taken to ensure that Indian entrepreneurs wanting to invest in Germany did not face problems.

Speaking on the occasion, Dr Singh said that India would welcome German investments, particularly in the field of infrastructure and science and technology among other areas.

The two countries signed seven memoranda of understanding, including one for the creation of an Indo-German science and technology centre and another on bilateral co-operation between the Office of the Controller General of Patents, Designs and Trade Mark Promotion of the two countries.

Earlier, the Minister for Commerce and Industry, Mr Kamal Nath, invited the German business community to invest in India.

“The major sectors that have attracted investments from Germany since liberalisation are electrical equipment, transportation and metallurgy. Together, these sectors make up more than 40 per cent of overall German investment in India. In fact, this momentum is being sustained and is even growing,” the Minister said at a luncheon meeting organised for the visiting Chancellor.