Red tape dogs Indo-German trade

Even as Commerce and Industry Minister Anand Sharma prepares to visit Germany next week, a joint report by industry body Federation of Indian Chambers of Commerce and Industry (FICCI) and consultancy major KPMG shows that speed and ease of doing business, apart from lack of infrastructure, remain key areas of concern for German firms willing to invest in India.

Even as Commerce and Industry Minister Anand Sharma prepares to visit Germany next week, a joint report by industry body Federation of Indian Chambers of Commerce and Industry (FICCI) and consultancy major KPMG shows that speed and ease of doing business, apart from lack of infrastructure, remain key areas of concern for German firms willing to invest in India.

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FICCI has said that a mechanism should be put in place to ensure that bilateral trade target touches Euro 20 billion by 2012 from Euro 13 billion in 2009.

“We will go the whole hog in seeking FDI from Germany,” Rajan Bharti Mittal, President, FICCI said. Mittal would be leading a FICCI CEOs’ delegation to Duesseldorf, Dresden and Frankfurt next week.