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CURTAIN RAISER
The 15th session of the Indo-German Joint Commission on Industrial and Economic Co-operation will begin here on 4th April 2005. The Finance Minister, Shri P. Chidambaram will lead the Indian delegation at the two-day meet, while the German delegation is headed by Mr.Wolfgang Clement, German Federal Minister of Economics and Labour. Mr.Clement handles important portfolios such as trade, commerce, FDI, SME sector, labour, social security, financial markets etc.
The Indo-German Joint Commission is one of the most important policy institutions dealing with the entire gamut of Indo-German economic relations. The Joint Commission meets alternately in India and Germany. It deals with overall bilateral economic relations between the two countries focusing, inter-alia, on trade balance, trade promotion, investment issues, technological collaboration arrangements and policy issues.
Issues relating to bilateral trade, investment, infrastructure and industrial cooperation are likely to be discussed. In view of the fact that more than half of India’s GDP is being contributed by the service sector, matters relating to knowledge and service-based industries shall also be discussed separately.
The Indo-German Joint Commission has assumed importance for the Indian government in view of the falling German investment in India in recent years. These investments have averaged $125 million dollars annually in the last ten years, which is relatively insignificant when compared with the overseas investments made by Germany in other countries and taking into account India’s true potential. There is considerable scope for German investment in areas like information technology, biotechnology, telecommunications, small and medium enterprises and infrastructure development on which discussion is likely to focus.
Germans are also keen to step up investments into India and are coming with a 100 member strong delegation comprising of CEOs of top German companies like Bar GmbH, ALSTOM Power, Imexa, TUV besides Members of the German Parliament ( Bundestag). The Indian delegation shall comprise of top Indian officials from various ministries and CEOs of top corporates like Indo Rama, Atlas Cycles, NRB Bearings, ITC, Hero Honda etc. The Indian delegation shall also comprise of leading representatives of business chambers like FICCI, CII and IGCC.
BSC/BY/DT/CS-179/05
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