Seminar on Indo-German Economic Relations : Looking Ahead on The Occasion of The Visit of H E Gerhard Schroeder, Chancellor of Germany
October 29, 2001, New Delhi

Welcome Address by Mr Chirayu R Amin, President, FICCI

H E Mr Gerhard Schroeder, Chancellor of Germany
Mr Suresh Prabhu, Minister of Power, Government of India
Mr Arun Shourie, Minister of Disinvestment, Government of India
Mr Sanjiv Goenka, President, CII
Distinguished Guests
Ladies & Gentlemen

Excellency, on behalf of Indian industry, CII & FICCI, it gives me great pleasure and honour, to extend a warm welcome to a global leader of your stature. We also welcome the Hon’ble Ministers and the distinguished delegates, business leaders and civil servants accompanying you.

Hon'ble Chancellor, it is rare to find a political leader of your standing and stature who has first hand understanding of poverty and deprivation and yet has risen from the grass-roots to become a global statesman. Thus, your political vision is imbued with the highest social and human values. We are also deeply encouraged by the sagacity with which you have led your country in the emerging fight against global terrorism – a menace threatening the very foundation of all open societies like that of yours and ours.

There is no doubt that your visit has unveiled a new chapter between our two great nations. Both India and Germany are endowed with ample natural resources, are large in size, have vibrant democracies and embody great traditions. They are both noted for their intellectual accomplishments. In fact, our great poet, the Noble Laureate Ravindranath Tagore once said "Germany has done more than any other country in the world for opening up and broadening the channel of intellectual and spiritual communication for the West with India".

It is this inseparable historical bond, in the realm of the mind and in the domain of ideas that we must rekindle and synergise in the current context of economic globalisation driven by markets and enterprise. The thriving economic and business relationships between India's rapidly emerging market and your massive economy is critical for a sustainable multi-polar world. We, from the Indian business assure you of our unambiguous support.

Friends, as I stand here to address this distinguished gathering, I am conscious of the growing influence of foreign private investment and business partnerships in shaping the contours of the emerging world economic order. The need today is of a holistic world view in an age of rapidly shifting paradigms, times of heady integration of global markets, pressures of new financial architecture and the threat of growing inequality between nations and within societies. It is the Germans, who are known for a holistic approach, not just market but social market, not just entrepreneurship but corporate social responsibility, not just economic growth, but social inclusion and social security. We need to learn from German thought and balanced German perspectives.

Your nation’s capabilities, particularly, in the areas of engineering, bio-technology, material sciences, research & development and infrastructure are widely known to us. There are many Indians in this very gathering who swear by German machinery and by German precision. Technology made in Germany enjoys highest esteem in India.

Our relationship must now be driven by human capital enriched with knowledge. Not just by traditional capital accumulation, but by the application of the human mind that will drive all levels of productivity, growth and change. Your unique Dual System vocational education can lead this transition to the brave new world of the knowledge worker.

Indian economy is indeed undergoing massive transformation, often leap frogging over traditional stages of development. India's software engineering capabilities have become legendary today. We produce over 2,50,000 software professionals annually and have sent over 100,000 software engineers to the USA who lead top companies in the silicon valley and who drive cutting edge animation and multi-media capabilities in the Walt Disney studios. Our software exports have spurted to nearly US$ 6 billion and expected to reach US$ 50 billion by the year 2008. In this context, we welcome your introduction of the Green Card Scheme, which has already seen nearly 2000 Indian IT professionals to your shores. This itself will help in deepening our linkages in the domain of the "new economy".

We are now focusing on bio-technology & bio-informatics. Two of our pharmaceutical companies have already discovered three new molecules - why not a dynamic interface with you in this domain.

In fact why don’t we initiate an integrated ‘knowledge business platform’ code named ‘KBP’, between our two great nations? Why not deepen cooperation in the area of technology institutions and vocational education structures at the grass root levels between our countries?

While Germany is home to many international business giants, we recognise the power of small and medium sized companies of Germany as well. Cooperation in this sector can play a crucial role in building a stream of new entrepreneurs, promoting exports to each other and above all, creating employment opportunities for millions.

Since Germany now plays a central role in redefining Europe and is also one of the largest trading partners of India in EU, we seek your active initiative and support in securing for us an Associate status in EU as you have done for other countries. This would give the right stimulus to our economic relations. Your historic visit accompanied by 60 business leaders and cabinet ministers, we know, will open new vistas and take Indo-German relationship to newer and greater heights. I welcome you all cordially.

Thank you.