India-Germany to Achieve Trade Target of 20 Billion Euro this Year: Anand Sharma

Press Information Bureau: Nov 02, 2012India Proposes Incremental Approach in India –EU BTIA NegotiationsThe Union Minister of Commerce Industry and Textiles Shri Anand Sharma has said that India and Germany will achieve the trade target of Euro 20 billion (USD 26.16 billion) this year. The trade between the two countries stood at USD 23.566 in 2011. “India and Germany have set a trade target of Euro 20 billion (US$ 26.16 billion) to be achieved by 2012 and I am sure that we will be able to reach this target if not cross it with efforts from both sides,” said Shri Sharma after the meeting with Dr. Phillipp Roesler, Minister of Economic and Technology and Vice Chancellor of the Federal Republic of Germany, here today.

Both the leaders also reviewed the progress of India EU BTIA and expressed the desire that it a balanced and ambitious agreement be reached soon. The Chief negotiators are meeting in Brussels on 8th November and a delegation is coming to this month to pursue the issue of declaring India Data Secure which is an important demand from Indian side. "We have proposed the principal of incremental approach so that what may not happen now can be included later. But what we have on the table from both the sides, it is fairly robust. We will now leave it to negotiators to bring it to its early conclusion .... We will have a ministerial scheduled either for December or January, depends on how fast they (Chief Negotiators) work. That time, hopefully, we will announce the conclusion of the negotiations," Minister Sharma told reporters after the meeting.

Dr Roseler underlined the concerns of their Pharmaceutical industry in the wake of granting of compulsory licence of a cancer medicine to Natco recently. Shri Sharma assured the visiting Minister that India’s action was well within the parameters of TRIPS commitments and the flexibility of compulsory licensing has been used more than 50 times by the developed countries while this was the first time India resorted to this. He said India’s IP structure is fully compliant with its international commitments.

In 2011 Indian export to Germany stood at USD 8.25 billion and import were USD 15.31 billion. FDI inflows from Germany into India is around US$ 4.9 billion and it ranks 8th among investors in India. FDI flow from India into Germany is US $ 5.9 billion in 2011.

The German Minister is participating in 13th Asia-Pacific Conference of German Business which is being held in Gurgaon during 1-3 November, 2012.

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India-Asean Trade to Reach $100 Billion Mark by 2015, Says Anand Sharma

Press Information Bureau: Dec 19, 2012Second India-ASEAN Business Fair 2012 BeginsInaugurating the 2nd India- ASEAN Business Fair- 2012 in New Delhi today, the Union Minister for Commerce, Industry & Textiles Shri Anand Sharma expressed confidence that the two-way trade between India and the ASEAN countries “will be able to reach USD 100 billion mark by 2015”. He also added that the early operationalisation of the Services and Investment Agreement would provide greater impetus to the trade and investment flows.

Welcoming the Trade Minister from the ASEAN countries, Shri Sharma urged the Trade Ministers that they should diversify the trade basket and that the economic gains on both sides would be substantial only if we develop supply chains with a focus on intra-industry trade. He also said that in order to realise the true potential of the economies, we should give a concerted push to strengthen the regional connectivity with ASEAN.

Shri Sharma said that India views its partnership with ASEAN as a crucial block in sustaining the growth momentum. “We would like to benefit from ASEAN experience in key sectors of economy such as infrastructure, agro-processing, retail and value added manufacturing. Equally, Indian companies can be invaluable partners for ASEAN economies in augmenting their productivity,” said Shri Sharma.

Speaking on Regional Comprehensive Economic Partnership, Shri Sharma said that the negotiations would be a momentous step. “The fruition of the Regional Comprehensive Economic Partnership which will have in its embrace ASEAN and the six countries including India, China, Republic of Korea, New Zealand, Japan and Australia, will truly have a defining influence on the global economic architecture,” Shri Sharma further added.

Later addressing media persons, Shri Sharma said that the FTA negotiations on Services and Investment would be concluded by tomorrow when ASEAN Ministerial will take place after the formal negotiations. “The senior officers have been meeting and we the Ministers have given them a very clear message and mandate at the recent ASEAN-India summit at Phnom Penh in Cambodia and senior officials and negotiators thereafter met in Jakarta… So the final round of negotiations is taking place between the senior officers of India, the Chief negotiator and his team and the ASEAN officials, and they will be formally reporting to the Ministerial meeting tomorrow. And the Ministers are committed. I can say for all of us to bring this negotiations to closure and carry on with our journey of partnership, added Shri Sharma.

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