Trade with Germany to double by 2010

Posted: Wednesday, Apr 06, 2005 at 0000 hrs IST
Updated: Wednesday, Apr 06, 2005 at 0000 hrs IST

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New Delhi, April 5: India and German have agreed to double bilateral trade to 12 billion euro by 2010, said finance minister P Chidambaram, while addressing a joint press conference on conclusion of the two-day 15th session of the Indo-German Joint Commission here on Tuesday. From the German side the conference was addressed by federal minister of economics and labour Wolfgang Clement.

He, while replying to questions on the insurance sector, reiterated the commitment of the government to increase the foreign direct investment (FDI) cap on insurance from 26% to 49%.

The minister, however, added that about a dozen international insurance companies are operating in India and the German companies can also enter the insurance sector within the existing framework of laws.

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