AAAAAAAAAAAAAAAAAAAAAAAAAAA

NT Bureau
Chennai, Apr 9:

        Indian policy-makers must aim at creating a conducive climate to enable private sector to generate more employment. Observed Michael Fuchs, member, German Federal Parliament and chairman of the Parliamentary Group of medium sized business.

        Speaking at a seminar 'Small and Medium Enterprises : Engines for growth and Employment' organised by the Madras Management Association, he said economic reform process began some fifteen years ago in India and the annual growth rate hovered anywhere between six to eight per cent. If this trend continues, the country would become the third largest economy in the world after US and China.

        Pointing out that India's economic scenario is really encouraging , he said that this tremendous growth augurs well for the country in attaining the numero uno position in the global arena.

        On the social market scene in Germany, he said, 'Two factors were responsible for Germany's success as Europe's largest economy, they were the decision to opt for a market economic system and the encouragement given to the small sized medium businesses within this system.'