Rösler meets with his Indian counterpart, Anand Sharma
The Federal Minister of Economics and Technology, Dr. Philipp Rösler, today met with the Indian Minister of Commerce and Industry, Anand Sharma, in Berlin. They discussed the further expansion of the bilateral economic relations. The exchange of opinions took place in a partnership-based atmosphere together with Indian and German business representatives.
The talks focused on the current status of the negotiations on a free-trade agreement between the European Union (EU) and India and the chances of progress in the negotiations in the near future. Federal Minister Rösler and Minister Sharma believe that the conclusion of the negotiations in the near future would offer advantages for both sides and promote the German-Indian economic relations.
Federal Minister Rösler stated: "In 2007 we started the negotiations on a free-trade agreement with India. This was an important step to lay the groundwork for the intensification of the trade relations. The results that have been achieved so far during the negotiations between the EU and India in the field of the liberalisation of trade in goods and services, however, fall short of our expectations. A free-trade agreement must comprehensively reduce tariffs on industrial goods. From the German point of view, the results achieved so far are insufficient especially in the automotive sector. But we also expect the Indian government to be willing to open up its services markets. This is the only way to make use of cost advantages and to generate lasting economic growth in both countries. Besides, we hope that our Indian partners will create reliable framework conditions for our companies that are active in India."
During today's meeting representatives of German industry made clear that in view of a lack of protection of intellectual property rights and a low level of legal certainty there are still great barriers to investment in India.