Germany to finance strategic infrastructure projects in India

[] Germany is set to finance long-term strategic projects in India, particularly in the railway, infrastructure and smart cities sectors as part of efforts to support India’s growth story, a top German official has said

Germany is ready to support India’s growth story and become part of India’s DNA, in key long-term strategic projects for India’s growth, according to an Indian Embassy statement, quoting Matthias Machnig, state secretary, federal ministry of economic affairs and energy.

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During a meeting with a delegation of visiting Indian CEOs led by CII, he also informed about the German cabinet’s decision to finance long-term strategic projects in countries like India particularly in railways, infrastructure and smart cities sectors, the statement said.

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The German government has set up a special unit in the Economics Ministry, to implement this decision of the German cabinet, it said. In a meeting with the CII delegation, German federal finance minister Wolfgang Schauble, said that Germany is committed to working with India for mutual benefit.

The CII delegation was led by Shobana Kameneni, CII president-designate and vice-chairperson of Apollo Hospitals Ltd. The 10 members of delegation also included Salil Singhal (PI Industries Ltd), Rajiv Modi (Cadila), Sanjay Kapur (Sona Koyo Steering Systems), Prabhakar Atla (Cyient Ltc), Mohan Murti (Reliance Industries), Mukul Dhyani (Wipro) and Rajesh Menon from CII.

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The CII and Federation of German Industry (BDI), would be jointly working on a programme, to intensify their engagements in key areas including skill development, the statement said.

The CII and The Economic Council also signed a memorandum of understanding (MoU), to strengthen economic and trade ties between India and Germany during ‘The Germany-India Economic Dialogue’ event held at the Indian Embassy. The MoU will help in jointly promoting Indo-German business, by means of frequent exchange visits for business cooperation, facilitating investment and business development and jointly organising road shows in both countries, for promotion of investment opportunities, the statement said.

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Category: Lifestyle

Debora Berti

Università degli Studi di Firenze, IT

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