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I am delighted to be here with members of the Indian
community in Germany.
You have all earned for yourselves an enviable
reputation for diligence, for creativity, and for
enterprise and for assimilation in a foreign culture
and ethos without losing or abandoning the intrinsic
values that make you Indian. This has enabled each
and every one of you to be ambassadors of India and
to favourably shape the perception of India among
your colleagues at work, your neighbours in your
communities and your elected representatives. We
admire your contribution in furthering the
understanding for India in Germany. I also
compliment you for the love and respect, which you
have for the land of your ancestors.
India and Germany are Strategic Partners. Germany is
the 6th largest investor in India and the 3rd
largest trading partner for India in Europe.
Indo-German collaborations are among the market
leaders in a whole range of sectors. Our two
countries also have a long-standing scientific and
technical collaboration. The two countries also
continue to work closely with regard to the reform
of the UN Security Council.
This is a unique year for India in Germany. We are
the Partner Country at the Hannover Trade Fair and
the Guest of Honour Country at the Frankfurt Book
Fair. In the month of May, India is the Focus
Country at the Bonn Biennale. For each of these
important fairs, India has the unique distinction of
being the only country to have been bestowed the
honour for a second time. Several German cities
would be holding special events on India. This shows
the tremendous interest that India has generated and
I am confident that they will all contribute towards
bringing the people of Germany and of India closer
together.
India
is on the move today. The Indian economy has
recorded high rates of growth on a sustained basis
since our process of economic reforms began. India
is among the most attractive destinations globally
for doing business. Several Indian companies have
expanded their global presence in various sectors
across the world, including in Germany.
Today, our external economic profile is robust and
reassuring to investors, at home as well as abroad.
Our economy has recorded close to 8 per cent annual
growth for two years in a row. We are confident that
we would be able to raise India’s annual growth rate
to around 9-10%. Our optimism is based on the fact
that our savings rate is now over 29% of our GDP and
the investment rate is about 31% of GDP. Our
policies relating to investment, banking, finance
and capital markets have evolved to make Indian
industry and enterprise more competitive globally.
We have launched a massive programme for rural
renewal that will upgrade rural infrastructure and
incomes and thereby, expand the domestic market. Our
new policies are enabling public-private partnership
in the modernization of our roads system, railway
system, ports, airports, power and the entire urban
infrastructure. I do believe that the transformation
India is going through will be one of the most
exciting in this century as over one billion people
move towards growth and prosperity.
I have come to Berlin today from Hannover, where
India’s participation at Hannover Messe 2006, with
over 300 companies, will showcase the vast potential
for partnership that the expanding Indian economy
offers for trade, investment and technology
collaboration for mutual benefit. I have no doubt
that our participation as a Partner Country for the
second time in 22 years, a unique honour bestowed on
India will impart significant momentum to bilateral
relations between India and Germany.
It has been said that in the new globalised world it
is those societies, which have evolved into
so-called “global tribes”, which will be best poised
to take advantage. I believe that our historic
project of globalization will, therefore, remain
incomplete unless we reach out to People of Indian
Origin. Our NRIs and the PIOs are important partners
in our globalization process. I, therefore, invite
you to join in the exciting journey of creating a
new modern and prosperous India.
Berlin
April 24, 2006 |
