Euro 20 bln trade with Germany reachable by 2012;Kamal Nath

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New Delhi, Oct 6 (UNI)Inviting a German province to become India's partner in sectors like agriculture, mining, crude oil, manufacturing, aviation, shipbuilding, biotechnology, steel, tourism and telecommunication, Commerce and Industry Minister Kamal Nath today said the two countries could reach trade target of Euro 20 billions by 2012.

Bilateral trade between India and Germany in 2007-08 was 14.7 billion dollar, Commerce ministry said.

During his interaction with Mr Christian Wulff, Minister-President of the State of Lower Saxony here, he invited Lower Saxony to take advantage of India's investor-friendly climate.

He said German companies should show greater engagement with India, especially in the sectors of infrastructure, information technology, bio-technology and automobile industry.

Of the 2.90 billion dollar of German's FDI proposals approved between 1999 to 2008, 2.20 billion dollars lias had been ivested in the country, the ministry added.

India's major exports to Germany are readymade garments, machinery and instruments, electronic goods and transport equipments, while imports include machinery (except electrical&electronics), iron&steel, machine tools, and organic chemicals.

Mr Kamal Nath also sought greater greater understanding from the developed countries,including Germany, regarding farm negotiations at the World Trade Organisation (WTO). saying India and other developing countries can not put livelihood of their farmers at risk by accepting unacceptable demands of the developed world.


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