: India signs .5 bn green development deal with Germany #FinanceIndia #StockMarketNEWS #Business ‘The pact could serve as an example of success in a complex world’ Berlin: Prime Minister Narendra

@StockMarketNEWS Wed 04 May, 2022

Posted in: #FinanceIndia #StockMarketNEWS #Business

India signs .5 bn green development deal with Germany #FinanceIndia #StockMarketNEWS #Business
‘The pact could serve as an example of success in a complex world’

Berlin: Prime Minister Narendra Modi said on Monday that the partnership between India and Germany could serve as an example of success in a complex world as the two sides inked several agreements focused on sustainable development under which India would receive US . 5 billion assistance by 2030 to boost the use of clean energy.

Prime Minister Modi, who co-chaired with German Chancellor Olaf Scholz the sixth plenary session of the Inter-Governmental Consultations (IGC), also invited the German participation in India’s ‘Atmanirbhar Bharat’ (self-reliant India) campaign.

“The 6th India-Germany Inter-Governmental Consultations were productive. Chancellor Scholz and I, along with ministers, officials from Germany and India discussed ways to boost cooperation in areas like sustainable development, mobility, economic growth and more. @Bundeskanzler ,??? Modi tweeted.

Modi said he had “wide-ranging discussions with Chancellor Scholz. Tuesday’s talks covered trade, commerce, innovation, culture and people-to-people linkages. India and Germany are working together on several subjects.

This partnership will benefit our entire planet. ???

In their opening remarks, both the leaders highlighted key aspects of the bilateral relationship as well as shared perspectives on regional and global issues during the session, the Ministry of External Affairs (MEA) said in a

press release. Prime Minister Modi emphasised that India-Germany partnership could serve as an example of success in a complex world, it said.

Participating ministers and officials from both sides presented brief reports on their meetings on the different tracks of the IGC, which included foreign affairs and security; economic, financial policy, scientific and social exchange; climate, environment, sustainable development and energy.

Finance Minister Nirmala Sitharaman; External Affairs Minister S. Jaishankar; Minister of State (Independent Charge) for Science and Technology and Earth Sciences Jitendra Singh and Secretary Department for Promotion of Industry and Internal Trade (DPIIT) Anurag Jain made presentations from the Indian side.

The plenary session concluded with the signing by Prime Minister Modi and Chancellor Scholz of the Joint Declaration of Intent (JDI) establishing the green and sustainable development partnership.

This partnership envisages a whole-of-government approach to India-Germany cooperation on Sustainable Development Goals and climate action, under which Germany has agreed to make an advance commitment of 10 billion Euros (US .