Germany seeks to free up trade with India

Unveiling their plans to boost the 'Make in India' programme, the German ambassador to India Martin Ney said that the exports from Germany to India have increased substantially in the past few years.

In 2017, direct investment in India by the German mechanical engineering sector totaled 1.2 billion euro - three times higher than in 2008.

The German embassy on Tuesday held a press meet to talk about the industrial growth and free trade agreement between India and Germany.

Giving a major push to the reforms of the Modi government such as Swatch Bharat Abhiyan and 'Make in India', Ney said that Industry 4.0 has played a pivotal role in strengthening free trade agreement between the two countries.

"At a time when the political situation in India is not conducive to trade freedom, Modi government has opened a channel which is allowing trade communications and recommendations to take place efficiently," Ney said.

Stating that Germany supports the FTA (free trade agreement) between Indian and the European countries, Ney said, "Despite willingness on the part of India to resume talks on FTA, no political decision has been taken yet to restart the negotiations." The FTA between the European Union countries and India is the need of the hour."

Referring to the direction which he received from Chancellor Merkel, Ney said, "She told me that India is very important for us and we need FTA with India soon."

Source: India Today