By NNN-PTI,
New Delhi : In the backdrop of the global meltdown, Germany has pitched for greater say for India and other emerging economies in revamping international financial structures to help avert repetition of such crisis.
German Ambassador Bernd Muetzelburg said BRIC states — Brazil, Russia, India and China — have become “important economic players” and it was important to give them more say in shaping of roles for economic globalisation.
“Country like India must be at the table when new rules are being devised,” he told PTI here.
“…If you want to grow in a dynamic way these days, I think you need to partner with India and not just in terms of trade but also in terms of investment,” said the envoy, whose country has already gone into recession officially.
“Nowadays in our globalised world where the BRIC states have for example become so important also as major economic players, it is obviously important to give them more of a say, more influence in the shaping of the roles for economic globalisation,” the envoy said.
Observing that emerging economies like India and China will continue to grow, Muetzelburg said fundamentals of Indian economy are very strong and the country will be able to “reinvigorate” its markets soon.
Germany’s economy, considered Europe’s biggest, has slipped into recession. Its economy has been whacked by the falling export demand and almost every sector, including the banking and automobile sector, of the country’s economy is feeling the pinch of the crisis.