A deal to fast track approvals for German companies in India and Euro 1 billion solar power fund by Germany were among major takeaways from the talks between Prime Minister Narendra Modi and Chancellor Angela Merkel as both sides inked 18 MoUs to scale up ties in strategic areas.
Co-chairing the third summit-level Inter-Governmental Consultations, Modi and Merkel agreed to enhance ties in key areas of defence, security, intelligence, railways, trade and investment, clean energy, besides deciding to work closely to combat threat of terrorism.
“We see Germany as a natural partner in achieving our vision of India’s economic transformation. German strengths and India’s priorities are aligned.
“Our focus tends to be on economic ties. But, I believe that in a world of seamless challenges and opportunities, India and Germany can also be strong partners in advancing a more human, peaceful, just and sustainable future for the world,” Modi said at a joint media event with Merkel after over three-hour-long talks, both at delegation-level and one-on-one format.
The deal on fast-track approvals process for German firms envisages single point clearance for various projects which is aimed at encouraging more and more German companies to complement Modi’s “Make in India” initiative and invest significantly.
The Prime Minister noted that the partnership will grow in in areas like “defence manufacturing, trade in advanced technology, intelligence, and countering terrorism and radicalism. These are important security dimensions of our expanding relationship.”
In the talks, Germany announced to provide assistance of over one billion euros for India’s solar projects.
