India welcomes German companies to enhance economic partnership

Berlin [Germany], May 30(ANI): Describing Germany as one of the important bilateral partners, Indian Prime Minister Narendra Modi on Tuesday called for Berlin companies' cooperation to strengthen the economic partnership between both the nations. "Our economic partnership is still below its full potential. To enhance this, India is ready with open arms to welcome German companies," the Prime Minister said at the Indo-German Business Summit here. "Germany is among India's most important partners bilaterally and in global context. Happy to see participation of German companies in India's growth story," he added. The Prime Minister also outlined Germany's contribution in making 'Make In India' campaign a success. "Germany is contributing in a big way in success of Make In India .We are implementing a strategic market entry support programme in Germany," he said. Asserting that the government is on path of making India a global manufacturing hub, the Prime Minister said the prime motive of their government is job creation and narrowing gap between affluent and lower sections. Prime Minister Modi further said that their main focus is on reducing Government and enhancing Governance, adding that the Federal and state governments have taken keen interest in implementing reforms. "India has one of the most liberal FDI Policy regimes in the world. More than 90 percent of foreign investment flows are under automatic route," he added. Concluding his speech the Prime Minister said, "India is a big country and nothing is enough when it comes to development. We have many dreams and this is your opportunity. Our direction, desire and dreams create tremendous business opportunity. Never before, India was so much ready for business." India and Germany today exchanged MoUs in several fields including education, urban development, science and technology and digital policy following bilateral delegation-level talks presided over by Prime Minister Modi and German Chancellor Angela Merkel. Addressing the press after fourth India Germany Intergovernmental Consultation, Prime Minister Modi earlier in the day asserted that it consider Germany as its reliable and key partner. The German Chancellor also said that her country sees India as a reliable partner. "Our cooperation goes back to 60 years and during our consultations, we have highlighted the fact that India has always prove to be a reliable partner when it comes to major projects here," Merkel said. Prime Minister Modi, arrived in Berlin on Monday for the India-Germany Intergovernmental Consultations. This is Prime Minister Modi's second bilateral visit to Germany. Chancellor Angela Merkel hosted an informal dinner for Prime Minister Modi at the Schloss Meseberg, outside Berlin. (ANI)