Immense opportunities for German companies in India: Prez

Underlining that Germany is India's most important economic partner in Europe, President Pranab Mukherjee said there are immense opportunities for enhanced investments from the European country in physical infrastructure here.
Speaking at the banquet hosted in the honour of visiting German President Joachim Gauck, Mukherjee said Indian companies are increasingly venturing into investments and acquisitions in Germany.
"India, in turn, sees immense opportunities for enhanced German investments in its physical infrastructure. India also looks forward to the participation of the small and medium enterprises of Germany in India's growing consumer market," Mukherjee said in in his speech.
He said in 2012, bilateral trade between India and Germany was Euro 17.5 billion but there is much more potential to enhance commerce between the two countries.

Highlighting strong partnership between the two countries on regional and international issues, Mukherjee said they should continue with efforts for a fundamental reform of the UN Security Council and other multilateral institutions that reflects current realities.
Mukherjee said India not only celebrates Germany as its largest trading partner in Europe, but it also attaches great importance to German development assistance, the Rashtrapati Bhavan said in a press release.
The assistance has helped bring advanced technology into India and enhanced the country's energy efficiency while developing alternative sources of renewable energy, the President said yesterday at the banquet.