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Immense opportunities for German SMEs in India: Pranab Mukherjee

Underlining that Germany is India\\\'s most important economic partner in Europe, President Pranab Mukherjee said there are immense opportunities for enhanced investments from the European country in physical infrastructure.

Underlining that Germany is India's most important economic partner in Europe, President Pranab Mukherjee said there are immense opportunities for enhanced investments from the European country in physical infrastructure.


Speaking at the banquet hosted in the honour of visiting German President Joachim Gauck, Mukherjee said Indian companies are increasingly venturing into investments and acquisitions in Germany.


"India, in turn, sees immense opportunities for enhanced German investments in its physical infrastructure. India also looks forward to the participation of the small and medium enterprises of Germany in India's growing consumer market," Mukherjee said in in his speech.


He said in 2012, bilateral trade between India and Germany was Euro 17.5 billion but there is much more potential to enhance commerce between the two countries.


Highlighting strong partnership between the two countries on regional and international issues, Mukherjee said they should continue with efforts for a fundamental reform of the UN Security Council and other multilateral institutions that reflects current realities.


Mukherjee said India not only celebrates Germany as its largest trading partner in Europe, but it also attaches great importance to German development assistance, the Rashtrapati Bhavan said in a press release.


The assistance has helped bring advanced technology into India and enhanced the country's energy efficiency while developing alternative sources of renewable energy, the President said yesterday at the banquet.


Describing Germany as a long standing and good friend, Mukherjee said India attaches high priority to India-Germany strategic partnership based on shared values.


"Germany is the most important economic partner of India in Europe...India sees Mr. Gauck's visit as yet another occasion for Germany and India to reinforce their long standing ties of friendship and co-operation," the statement said.


The President said the 'strategic partnership' is a culmination of the two nations' continuous commitment, over the decades, to realise the full potential of the mutually beneficial relationship.


He said two countries are bastions of democracy and freedom having a shared respect for the rights of individuals, rule of law and a free media.


Mukherjee congratulated the German President for his personal commitment and his contribution to the promotion of democracy and human rights and said he is confident that his visit will be an important milestone in strategic partnership between India and Germany and will set the agenda for joint endeavours in the coming days.


The visiting dignitary said India is a key partner in the region and Germany greatly admires the path to modernity pursued by India in the 21st century.


"A successful India, which offers its citizens the chance to live their lives in peace and freedom, sends an important message to Asia and indeed to the whole world. Such an India stands for the advantages of an open society, for pluralism and for democracy," he said.


In his speech, the German President said it is important that India and Germany closely coordinate on global issues such as security, development, global trade and climate protection.

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