The Capital of Cost Cutting

NAMAS BHOJANI for TIME

GUTEN TAG: Outsourcing firms, like this one in Bangalore, are picking up more European clients

German Chancellor Gerhard Schröder dropped in on Asia's other emerging economic giant last week, and his message — for both his Indian hosts and the folks back home — was comforting: when it comes to business ties between India and Continental Europe, you ain't seen nothing yet. Schröder, accompanied by 22 top executives from companies including Lufthansa, insurer Allianz and the media firm Bertelsmann, insisted that Germany's bilateral trade with India would double to $12.3 billion within the next seven years. After scattering rose petals at Rajghat, the shrine outside Delhi where Mahatma Gandhi's last rites were held, he borrowed a...

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