Germany pledges billions for India's growth: 5 takeaways from Merkel-Modi meet

Discussion in 'Economy & Infrastructure' started by Dark Sorrow, Oct 6, 2015.

  1. Dark Sorrow

    Dark Sorrow Respected Member Senior Member

    Mar 24, 2009
    Likes Received:
    NEW DELHI: India and Germany on Monday agreed to enhance ties in key areas of defence manufacturing, trade, intelligence and clean energy during wide-ranging talks between Prime Minister Narendra Modi and German Chancellor Angela Merkel after which 18 MoUs were inked.

    Describing the talks as "very good", both the leaders expressed hope that their discussions will pave the way for more robust partnership between the two countries in strategic areas.

    "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," PM Modi said.

    We take a look at some of the key takeaways from Merkel and PM Modi's briefing:

    India to get $2.25 billion for solar, clean energy: Germany will provide India more than 2 billion euros ($2.25 billion) for developing a clean energy corridor and solar projects, Modi said.

    "We have agreed on India-Germany Climate and Renewable Alliance with a long term vision and a comprehensive agenda of combating climate change. I place great value on Germany's assistance of over one billion Euros for India's Green Energy Corridor and a new assistance package of over a billion Euros for solar projects in India. We also intend to deepen research cooperation in clean and renewable energy, and energy efficiency. To contain temperature rise we must also change our temperament," he said.

    India's economic growth: Germany has extended support to PM Modi's efforts for development and economic growth in the country.

    "We honour that your Prime Minister has ambitious programmes for the development of your country and for the economic build up and Germany is fully interested to be your partner and supporter," German Chancellor Angela Merkel said.

    Merkel said Germany will extend cooperation in areas such as economy, agriculture, internal security, development issues, defence matters and financial relations. She said Germany and India will cooperate in international conferences and meetings such as the upcoming Conference of Parties (COP21) in Paris.

    Education: The pacts signed included Joint Declaration of Intent between HRD ministry and the Federal Foreign Office of Germany regarding the Promotion of German as a Foreign Language in India and the Promotion of Modern Indian Languages in Germany.

    The inking of the pact comes as both sides were working to resolve the contentious issue of Sanskrit replacing German as a third language in Kendriya Vidyalaya Schools, a decision which was criticised by Germany with Merkel raising the issue during her meeting with Modi on the sidelines of the G-20 summit in Brisbane in November last year.

    Fast-track investments: The two sides also announced setting up a Fast-Track system for German companies in India.

    The fast-track approvals process will ensure that German firms will have a single point of contact in the Indian administration, helping them to navigate a web of red tape that often thwarts business initiative.

    The agreement is the first of its kind and comes as Prime Minister Narendra Modi seeks to attract foreign investment in support of his "Make in India" drive to boost industrial investment and create skilled jobs.
    Defence & UNSC: "Our partnership will also grow in areas like defence manufacturing, trade in advanced technology, intelligence, and countering terrorism and radicalism. These are important security dimensions of our expanding relationship," PM Modi said.

    "I welcome Germany's strong support for India's membership of the international export control regimes. As we discussed in the G4 Summit in New York, Chancellor and I are committed to pursue reforms of the United Nations, especially the Security Council. We have a common perspective on this region; the turbulence in West Asia; Europe's challenges; and, shaping a peaceful and stable Asia Pacific and Indian Ocean Region. I especially thanked her for Germany's invaluable support for peace, security and development in Afghanistan," Modi added.

    The Prime Minister also mentioned that he will continue his discussions with Merkel in Bangalore, where both the leaders will be attending a business forum.

Share This Page