India to establish mechanism to aid German investment, PM Modi said in Berlin

Prime Minister Narendra Modi on Tuesday announced that a mechanism will be established to facilitate investment and business from Germany as the two countries agreed to broaden bilateral economic cooperation.

Modi made the announcement after talks here with German Chancellor Angela Merkel who both had interactions in the last two days after the inauguration of Hannover Fair and the India Pavillion in Berlin.

"I feel deeply encouraged by the enthusiasm and interest that I have seen in Chancellor Merkel and Germany. Equally, the feedback that I have got will be of great benefit to me in framing our policies. I have also decided that we will establish a mechanism for German companies to facilitate their investment and business in India," he said in a joint media interaction along with Merkel.

Modi said the objective of his visit to Germany was not only to invite the German industry to India, but to assure them that "they would find an open and stable environment, which would be easy to do business in; and that they will have my full support to invest and work in India." In her remarks Merkel said the two countries have decided to develop a broad-based relationship. She said the two sides have agreed that bilateral economic cooperation will be developed further when she visits India in October.

"I will bring a number of cabinet members along with me and take stalk of our relationship at political level," she said.

A joint statement issued at the end of his three-day visit said the two countries have established a robust roadmap for expanding their multi-faceted and mutually-beneficial ties and to further strengthen strategic partnership.

Earlier, Modi, who is in Berlin on the second leg of his three-nation tour, was accorded a ceremonial welcome.

"Yesterday in Hannover, she (Merkel) accepted the invitation of India's Lion to raise the level of Germany's engagement in India and assured me of a strong response by Germany's Eagle. I believe that there will be a strong partnership between the King of the Earth, Lion and the King of the Skies, the Eagle," he told reporters after his talks with Merkel.

"We look forward to our 3rd Inter-Governmental Consultations (IGC) in India in October 2015. Our Strategic Partnership is entering a new and more intensive phase," the two leaders said in the joint statement.

"We view each other's development as mutually reinforcing and offering significant opportunities for expanding cooperation between the two countries. Our common objective is to encourage greater synergies between German engineering, experience in sustainable development, innovation and skills, and the new opportunities available in India and through 'Make in India', 'Clean India', 'Digital India' and other initiatives towards achieving economic growth and sustainable development," they said.

The two leaders said they were exploring ways of expanding bilateral dialogue on foreign policy and security issues.

"Taking our partnership into the future, we will also work together on meeting global challenges such as climate change, energy and food security," the two leaders said.

The two sides also agreed to take proactive steps to advance their collaboration in manufacturing, skill development, urban development, environment, railways, cleaning of rivers, renewable energy, education, language and science and technology.