Germany Chancellor signs key business deals with India

INVEamGerman Chancellor Angela Merkel who is on a visit to India, has signed a deal that was agreed during her talks with PM Narendra Modi. The deal will fast-track approvals to make it easier for German firms to operate in India. Chancellor Merkel who is accompanied by a delegation of ministers and senior officials was accorded a ceremonial welcome at the Presidential Palace.

Merkel’s talks with Modi centred around deepening bilateral engagement in sectors such as defence, security, education, renewable energy, trade and investment. Merkel said 1,500 German companies are already working in India and the fast track agreement will help them.

Mr Modi said Germany has agreed to provide over $4.45 billion in assistance to India to develop clean energy and solar projects. Ms Merkel is also scheduled to visit Bangalore to attend a business forum and where PM Modi said he will continue his discussions with the German Chancellor.

Both leaders described their talks as ‘very good’ and expressed hope their discussions will pave the way for a more robust partnership between the two countries in strategic areas.