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Germany not to follow Britain in re-engaging with Gujarat
Tuesday October 16, 2012 10:51:58 PM,
IANS
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New Delhi: Germany is
not going to follow Britain in re-engaging with the Gujarat
government led by Chief Minister Narendra Modi when the state is
going to the polls, the country's ambassador to India said.
"Our stand remains unchanged. There is a domestic elections that
will start there (Gujarat) and we do not want to make any
statements on it," Ambassador Michael Steiner said here.
"UK had informed us before making their announcement. However, our
stand is not affected by the UK's decision," he added.
The German envoy was commenting on Britain's recent decision to
re-engage with the Gujarat government. Britain was among many
other countries that had boycotted the Gujarat government after
the 2001 communal riots in the state.
On the trade and investment with India, the envoy said the
negativity surrounding the investment environment in India has
faded a bit due to the recent decision in allowing foreign direct
investment (FDI) in retail and other areas.
"The recent decision on FDI has helped improve the image and
atmosphere of investments in India."
On the European financial crisis, the envoy said efforts are being
made by EU countries to resolve the crisis, including the use of
two instruments -- the European Stability Mechanism (ESM) and the
Fiscal Compact.
The ESM provides for buying up to 780 billion Euros (around $1
trillion) sovereign bonds of euro zone countries which are under
financial stress. The Fiscal Compact envisages a singular economic
governance policy for the euro zone, including monetary policy and
further integration.
Steiner said that despite the current crisis, Indo-German trade
will reach the Euro 20 billion-mark by this year-end.
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