India and Germany pledged to revive efforts to reach an Indo-European free trade pact after talks were derailed by a ban on Indian generic drugs, and struck deals to promote clean energy and make it easier to do business.
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“German engineering and India IT skill create a next generation of industry which will be more efficient and environmental friendly”, he said. “And, so is our mutual goodwill,” he said, after holding the 3rd IGC with Merkel here.
After talking business with Prime Minister Narendra Modi, German Chancellor Angela Merkel visited the Silicon Valley of India – Bengaluru – to discuss technology, on the last day of her visit to India.
“I admire German leadership for clean energy and commitment to climate change”.
Germany announced to provide loan assistance of over one billion euros for Indias solar projects in the next five years, besides an existing assistance of over one billion euros for Indias Green Energy Corridor.
Indian Prime Minister Modi has added Germany to list of nations who are natural partners to India for India’s Grand Economic transformation.
Germany is the largest trading partner for India in the European Union country and the seventh largest foreign investor in India.
The PM also expressed his gratitude for the return of the 10th century statue of Durga in her Mahishasurmardini avatar.
He stressed that Germany was committed to work closely with India.
German investments in India stand at 9.7 billion euros with about 1,600 companies in the country, where the chemistry, energy and pharmaceuticals sectors are of greatest interest.
Both sides issued a joint declaration on continuation of cooperation in the field of advanced training of corporate executives and junior executives from India. “We can look forward with confidence to increased investment, trade and technology partnerships in manufacturing, infrastructure and skill development”, Modi said.
Both sides issued a Joint Statement of Intent on Cooperation in Food Safety, between the Federal Institute for Risk Assessment (BfR) and the Food Safety and Standards Authority of India (FSSAI).
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“The prime minister has a very ambitious economic development programme for India and Germany intends to contribute to it and support it”, Merkel said after arriving in New Delhi.
