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Fischer sees big scope for trade with India

MUMBAI, JULY 21. Germany today said there was lot of potential for bilateral cooperation with India in various fields, including IT, life sciences, finance, chemicals and insurance.

"There is lot of potential for cooperation between the two countries in IT, life sciences, chemicals, finance and insurance," the visiting Foreign Minister of Germany, Joschka Fischer, said addressing an Indo-German Chamber here. He said the new immigration law passed by the German Parliament would ease visa restrictions. India has enormous potential to become one of the major powers of the 21st Century, Mr. Fischer, who is on a visit to India, China, Bangladesh and Sri Lanka said.

There should be more trade between India and Pakistan, he said adding it would help in bringing stability in the region.

Mr. Fischer also met the top brass of the Reserve Bank of India including the Governor Y. V. Reddy today. He had a half-an-hour meeting with Dr. Reddy, the RBI Deputy Governors, Rakesh Mohan, and K. J. Udeshi, and other executive directors.

PTI

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