India-German trade to cross 30 bn Euros by 2010: Sibal

CHENNAI: Union Minister of Science and Technology and Earth Sciences Kapil Sibal on Monday said trade between India and Germany was expected to cross 30 billion Euros in 2010 as the two countries expanded the areas of cooperation in various fields.

During his keynote address at the Golden Jubilee of IIT Madras here, he said Indo-German trade would also touch 50 billion Euros in 2020 if India and Germany can engage in a fruitful partnership in various areas of research and development in science and technology.

"In the year 2007-2008, the figures of Indo-German trade stood at 12.07 billion Euros", he said.
India and Germany were also discussing creation of an International Centre for Excellence in Molecular Biology in India. "We are also deepening and strengthening our cooperation with the German Academic Exchange Service (DAAD), Humboldt Foundation, Fraunhoffer Society and (DFG) Deutsche Forschungsgemeinschaft, which has recently opened its offices in Delhi".

he said many collaborative projects were being initiated in emerging Science and Technology field like artificial intelligence, nanotechnology, biomedical research.

Apart from shared political, economic and social values, India considers Germany a very important collaborator in nation building. "Germany is one of the largest economies of Europe. About 22 per cent of the Euro-zone economy is contributed by Germany.

Indian entrepreneurs are aware of the fact that the nation offers acces to 454 million consumers with a highly advanced infrastructure, roadways, railroads and state of the art communication networks, he said.