Prime Minister Manmohan Singh today sought greater engagement from German companies and expressed happiness that ‘‘more than 80 per cent of the German companies are aware of the huge potential of the Indian market”.

“I believe 65 per cent of the German manufacturing companies already have a presence in India and another 30 per cent plan to come there,” the Prime Minister said.

Singh said this while inaugurating the Indo-German Business Summit. He subsequently left for Berlin to meet senior ministers in the German Government, including Foreign Minister Frank-Walter Steinmeier.

Yesterday, the Prime Minister, along with German Chancellor Angela Merkel, had inaugurated the Hannover Technology Fair marked by a stunning laser show and cultural performance showcasing India. The business summit will run parallel to the trade fair.

Later in the day, Commerce and Industry Minister Kamal Nath raised concerns about the increasing stringency of standards and complex rules and procedures in the European Union, which acted as non-tariff barriers (NTBs) to trade. Nath sought the support of Germany, India’s largest trading partner in Europe, to resolve the NTBs faced by Indian exporters in the EU.

Merkel was in agreement with Nath on the issue, saying, “Any attempt at protectionism should be staved off, be it in EU or Germany. We must allow investments from developing countries, including India.”

While appreciating the Indian economy’s rapid growth, Merkel felt it was only ‘open to some extent’. “India should open up its markets further,’’ Merkel said. She also stressed that both India and Germany must build on the agenda for energy security.

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