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SG KE TOI Bavaria meet: India optimistic about economy

SG KE TOI Bavaria meet: India optimistic about economy

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Published by: api-3729564 on Dec 04, 2009
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Source: Times of India, Monday 6 July 2009
Bavaria meet: India optimistic about
Mini Joseph Tejaswi | TNN
Munich: The global financial market crash has visibly impacted all geographies.
Despite this, India is still seen to be on a good growth trajectory. Banks in the

country are much stronger with average NPAs (non performing assets) at less than 3%, while it is 25% and 50% in China and the US respectively.

Addressing a large gathering of business leaders and bureaucrats at the first ever Global India Business Meeting organized by the Bavarian government here, Anand Sharma, Union minister of commerce and industry, said India has the potential to absorb $500 billion investment in infrastructure , energy, engineering, agriculture, telecom in the next five years. Trade bodies and companies are the engines of growth and the government will provide a support structure with right policies, he said. There is a need to deepen the economic activities in the current scenario. From a country mired in poverty and illiteracy under the colonial era, India today is a fast growing economy. The government has been investing in areas like high- tech, space, science, education, infrastructure, etc.

Quoting a recent study, Sharma said the investment returns are the highest in India at 59%, against 56% in Brazil and 36% in China. The minister said he would call a state industry ministers meet to discuss issues related to attracting investments.

On Indo-German bilateral trade, Sharma said the countries share trade worth $14 billion today. The German state of Bavaria alone has over 60 Indian companies including IT majors like TCS, Wipro and HCL. Speaking on the occasion, Arun Shourie, former minister of disinvestment, communication and IT, said Indians should pay attention to the German qualities of perseverance, reliability, precision and ability to work as a team. The principles of German scholars like Max Muller have helped India in remaking and building after the colonial period , he said.

Presented By Ganesh Srinivasan
Management Consultant From India With International Solutions Selling, Projects Implementation, Joint Venture,
Collaboration & Procurement Experience
Current Focus
Setup Operations [Select Countries & Verticals]
Strategic Investments [Select Countries & Verticals]
Business Performance Management [Operational Analysis & Improvements]
The Article Is Presented And Circulated For Knowledge Exchange And Not For Any
Commercial Gains \u2013 Ganesh Srinivasan

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