India asks Germany to delink New Delhi from pre-permit group to facilitate exports

India has asked Germany to delink New Delhi from pre-permit group to facilitate exports in the absence of free trade agreement between the two countries.

At the end of the deliberations of the 17th session of Indo-German Joint Commission on Industrial and Economic Co-operation in New Delhi today, the Finance Minister Mr. Pranab Mukherjee asserted the need for easing visa and work permit noms for Indians to work in Germany.The Finance Minister also invited German investors to invest in India in various sectors.

Our correspondent reports, Both the countries are hopeful of increasing the volume of bilateral trade to 20 billion Euros by the end of 2012.

AIR correspondent reports, the bilateral trade picked up tremendous momentum in the post-liberalisation era, when India opened its doors for foreign companies.

From January to June this year Indo-German trade figures touched 7.2 billion euros, setting a robust outlook for the year ahead. The yearly figures were recorded at 13.1 billion euros in 2009 and at 13.4 billion euros in 2008.

In 2008-09, German companies invested an all-time high of 629 million dollars in India.As for Indian investments in Germany, in 2008 alone, Indian firms invested an estimated amount of 1.8 billion dollars in Germany.

As per a recent report, India is the single largest source of FDI projects from emerging countries in Germany.

In his opening remark, the German Minister of Economics and Technology, Mr. Rainer Brueberle said that India has a high potential in IT sector while Germany can contribute in various ways in developing India’s energy sector including the nuclear one.

On free trade agreement between the two countries, the visiting dignitary said, that some sort of flexibility will be achieved for final settlement.

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