Prime Minister Manmohan Singh asked German Chancellor Angela Merkel to bring in more investments in infrastructure, manufacturing, and high technology while his interlocutor asked India to shed protectionism and open markets further.
At the Indo-German Business Summit, Singh said “65% of German manufacturing companies already have a presence” and that “another 30% want to come” to India. Merkel encouraged German businesses to take advantage of economic opportunities in India and said that all countries in the world need to shed protectionism.
Indian private airline carrier Kingfisher placed orders for 5 Airbus planes valued at USD 1 billion while Euro Man Nutzfahrzeuge signed a Letter of Intent with Pune-based Force Motors to manufacture chassis, buses, and coaches for Indian and Asian markets. The Indian Railways also signed an agreement with the German Deutsche Bahn to gain access to railways-related technologies and developments.