Merkel visits Mumbai’s differently-abled childrenNovember 14th, 2007 - 8:15 am ICT by admin
Earlier, Merkel had interacted with the women employees National Bank for Agriculture and Rural Development (NABARD).
Merkel’s visit to India is largely aimed at boosting business ties between the two countries, whose trade touched about 10.5 billion euros (15 billion U.S. dollars), four years ahead of an official target.
India, Asia’s third largest economy has grown at an average of 8.6 percent in the last four years and is expected to maintain a similar rate in the coming years.
German businessmen travelling with Merkel said New Delhi needed to lift caps set on foreign investment in insurance, banking, retail and telecommunications sectors.
This could push Germany up from its ranking as the sixth largest foreign investor in India, they said, as relations between the two countries blossom after having briefly cooled following India’s nuclear tests in 1998.
Merkel, who is on a four-day visit to India, her first as chancellor, arrived in the New Delhi on Monday, where she signed a Joint Declaration with Prime Minister Manmohan Singh emphasizing on the need to further develop the bilateral strategic partnerships. (ANI)
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Tags: blossom, business ties, chancellor, dance performance, delegates, foreign investment, german businessmen, india asia, merkel, mumbai, nabard, New Delhi, nuclear tests, prime minister manmohan singh, rural development, strategic partnerships, target india