New Delhi: Germany is keen to augment economic exchanges with India and sees the government's move to open doors for FDI as encouraging, top German officials said today, as Delhi played host to an 'urban mela' showcasing best of German culture and technology.
Phillipp Roesler, Vice-Chancellor of Germany and the Economic Affairs Minister, said Germany has proposed a joint working group with India to increase cooperation and create "common standards".
"We wish to strengthen trade relations with India, I have met the ministers in India, and we proposed to make a working group between India and Germany to create common standards between the two countries to increase co-operations," he said.
Roesler said Germany would be interested in cooperating with India in the industrial sector and was encouraged by the decision to increase the limit of foreign direct investment in some sectors.
"... Especially with the Indian government's decision to allow foreign direct investments, we would love to improve our trade relations," he said.
The Indo-German Urban Mela that concluded here today, was attended by several economic leaders from Germany who expressed willingness to explore new possibilities in India.
Speaking on the occasion of the closure of the festival, German Ambassador to India Michael Steiner expressed happiness over the revival of reform agenda by the Indian government.
"We need to say that the infrastructure is right but the legal system is a bit stringent, but we are happy that India is on the move again.
"India must understand that it is in the best interest of the country that they must allow foreign direct investment, it is a tough decision India has taken," he said.
About 700 German economic leaders, who came down for the 'Mela', want to explore economic possibilities in India, the German Ambassador said.
"The investors who were here want sustainability in the Indian economy, which will take time to come," he said.
On the issue of the reform of the UN Security Council and India's quest for a permanent membership for which Germany is also a contender, Steiner said, "We want the UN to work and in order to work it must be more representative in reflecting the realities of the world."
Germany has already said that it was committed to supporting India's bid for a permanent membership in the world body.
First Published: Saturday, November 03, 2012, 23:15