Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-09-27-Speech-3-272"
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"en.20060927.21.3-272"2
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"Mr President, despite economic growth of between 5% and 7% per year, India remains a country of great contrasts. Sixty-five per cent of the population are farmers, and almost 70% of them live in rural areas. Although India comes close to the top of the list in terms of gifted engineers, IT specialists and scientists, about one third of its people are illiterate, and a large proportion of them are living in poverty.
From the point of view of cooperation, these contrasts represent a unique mix of advantages for India, as it can draw on both an unskilled and a highly qualified cheap labour force. India has a population of over 1 billion and is the fourth largest economy in the world. Therefore, it ought to be an attractive partner for the Union where trade and investment are concerned. This potential is not fully exploited by European Union companies, which seem to have a strong preference for China. The Union’s trade with India amounts to less than 20% of its trade with China. These figures suggest that there is a great deal of under-exploited potential, but it is essential for the high duties on goods imported into India from the European Union to be lowered and for non-tariff barriers to be reduced.
The Union has already declared itself in favour of significant concessions within the framework of WTO negotiations. The Indian authorities should strive to limit bureaucracy, as it hampers foreign investment. The lack of investment in transport and energy particularly hinders development, although these could be attractive areas for foreign investment. The Union could draw on its past experience to help resolve the problems associated with the significant imbalance in regional development in India, where the west and south of the country differ greatly from the east and the north.
As we develop trade relationships, we must also promote respect for human rights in India. This is an important subject which should be raised at the forthcoming summit in October."@en1
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