In his banquet speech for visiting German President Joachim Gauck at Rashtrapati Bhavan on Wednesday night, Mukherjee said, "India attaches high priority to India-Germany strategic partnership based on shared values."

The G4 nations comprise Brazil, Germany, India and Japan which support each other's bids for permanent seats on United Nations Security Council.

India considers Germany as a longstanding and good friend. Germany is the most important economic partner of India in Europe. In 2012 bilateral trade between India and Germany was euro 17.5 billion. But there is much more potential to enhance commerce between the two countries, a Rashtrapati Bhavan statement on Thursday cited President Mukherjee as saying.

The President said he sees Gauck's visit as yet another occasion for Germany and India to reinforce their long standing ties of friendship and co-operation.

Indian companies are increasingly venturing into investments and acquisitions in Germany, and India, in turn, sees immense opportunities for enhanced German investments in its physical infrastructure. India also looks forward to the participation of the small and medium enterprises of Germany in India's growing consumer market.

Today, not only does India celebrate Germany as its largest trading partner in Europe, it also attaches great importance to German development assistance which has helped bring advanced technology into India and enhanced India's energy efficiency while developing alternative sources of renewable energy, the statement quoted the President as saying.

Gauck said Germany considers India to be a key partner in the region. It is important that India and Germany closely coordinate on global issues such as security, development, global trade and climate protection, the German president said.


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