India, Germany To Enhance Trade And Strengthen Economic Ties

Prime Minister Narendra Modi today said India is a “bright spot” in global economic slowdown and assured foreign investors of favourable business conditions, including strong intellectual property rights protection.

He also said that the government hopes to roll out the Goods and Services Tax (GST) next year.

At the Summit attended by the who’s is who of the India Inc, particularly the IT sector, Modi also said India is committed to protecting Intellectual Property Rights of all innovators and entrepreneurs.

The Government, Modi said, has fast-tracked approvals and clearances for industry as well as the infrastructure sector and is committed to creating favourable conditions for business.

On Indo-German business ties, Modi said they remain below full the economic potential and India wants to develop relationship with Germany in various sectors.

Merkel said she and Modi would meet again in November at the G-20 summit. She said while India needs high skilled jobs, Germany requires high skilled labour.

Earlier, Modi and Merkel visited the facilities of German automotive major Bosch here, as part of the chancellor’s three-day state visit to India, with focus on innovation and skills development.

Video courtesy: ANI
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