The verdict of the highest constitutional court in Germany on the European Stability Mechanism is good news for India, the German Ambassador to India, Micheal Steiner said on Wednesday evening.
“India is fundamentally a power house. But going it alone is not an option in the globalised world, however strong your economy might become. India also needs a strong and solid Europe, as Europe is India’s largest trading partner. Do not underestimate Europe. Its fundamentals are pretty strong. Indian economic growth depends a lot on foreign investment and international trade. EU-India Free Trade Agreement in good time, which means relatively quickly, could be an extremely important signal to the markets that India is open to the world,” the envoy said.