14/04/2015 9:21 PM IST | Updated 15/07/2016 8:25 AM IST

Modi: India To Establish Mechanism to Aid German Investment

TOBIAS SCHWARZ via Getty Images
German Chancellor Angela Merkel and Indian Prime Minister Narendra Modi address a press conference on their talks in Berlin April 14, 2015. AFP PHOTO / TOBIAS SCHWARZ (Photo credit should read TOBIAS SCHWARZ/AFP/Getty Images)

Prime Minister Narendra Modi today 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 there.

"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. (more)