Prime Minister Narendra Modi, and German Chancellor Angela Merkel have come down to Bengaluru and visited the German automotive major Bosch Factory, located in the city.
The leaders interacted with its executives on innovation and research to help the government promote ‘Make in India’ and ‘Digital India’
Later, the duo will be sharing the dias at a National Association of Software and Services Companies (Nasscom) event.
With Modi and Merkel set to talk and exchange technology in Bengaluru, several of the city’s roads have virtually turned into no parking zones.
While Merkel flew into Bengaluru on Monday night, Prime Minister Modi reached the city on 6 October. The German Chancellor is on a three-day visit to India.
It may be noted that, Modi and Merkel held bilateral talks on Monday to discuss security, economy, climate change and infrastructure. Both sides support a commitment to bring reform to the United Nations Security Council.
Germany on 5 October provided around one billion euros (Rs 7,300 crore) aid for India’s solar projects as the two countries decided to set up a renewable energy alliance, so as to promote cooperation in the energy sector.
In Bengaluru, Modi said India was sailing in the right direction but cannot be complacent; “we are committed to creating favourable conditions for business,” he said, “Agencies across the world have rated India as the most favoured destination for investments.”
Stating that there is tremendous potential in an India-Germany economic collaboration, Modi said, FDI inflows have gone up by almost 40% this financial year.
Committed to creating favourable conditions for business and industry, Modi added that, at a time of global slowdown, India represents a bright spot for investments.
While on investments, he said that, the government has introduced the Goods and Services Tax Bill in Parliament. We hope to implement the bill in 2016.
The government has taken decisive steps to remove a number of long pending concerns of investors, he said. The government has taken steps to fast track industrial licenses. “We have also hastened clearances, including infrastructure, security and environmental clearances,” he added.