Germany fixes India infra projects on radar

In view of the huge future business avenues in the country's infra sector, the German Cabinet has decided to finance long-term strategic Indian projects across rail, road, and smart cities' segments, Indian Embassy in Berlin reported in an official statement, quoting State Secretary of Germany's Federal Ministry of Economic Affairs and Energy, Matthias Machnig. The German government has set up a special unit in the Economics Ministry to implement the Cabinet's move, German Federal Finance Minister Wolfgang Schäuble reiterated that Berlin is committed to work with New Delhi for mutual benefit. CII and Federation of German Industry (BDI), President, Dieter Kempf would be jointly working on a program to intensify their engagements in key areas including skill development. The statement added that a visiting Indian CEO delegation led by the Confederation of Indian Industry (CII) also interacted with a number of German industry leaders from German Asia-Pacific Business Association (OAV). The recently signed memorandum of understanding (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 organizing road shows in both countries for promotion of investment opportunities, the statement added.