CashNews.co
India and Germany successfully concluded their development policy negotiations. Photo: Shutterstock
India and Germany successfully concluded their development policy negotiations, reinforcing cooperation in key sectors such as renewable energy, urban development, mobility, and agroecology, an official release by the German Embassy stated.
The talks, held in New Delhi, were led by the Department for Economic Affairs (Indian Ministry of Finance) and the German Federal Ministry for Economic Cooperation and Development (BMZ). Both nations are committed to furthering their Partnership for Green and Sustainable Development, established in 2022 by Prime Minister Narendra Modi and Chancellor Olaf Scholz.
Barbara Schafer, head of the German delegation, highlighted the strategic importance of the partnership: “Germany and India share a long-standing, trusting, and strategic partnership. This has been further demonstrated in 2024 by both sides.”
Schafer noted that the launch of the ‘India-Germany Platform for Investments in Renewable Energy Worldwide’ at the 4th REInvest in Gandhinagar marked a significant milestone in their collaboration. She added that Germany is fulfilling its international obligations, with the country supporting various sectors in India, including climate-resilient agriculture and infrastructure development, the press release stated.
Through Indo-German cooperation, modern transmission lines spanning 7,700 kilometres have already been established, with German financing contributing to metro projects in Mumbai, Surat, Ahmedabad, and the water metro in Kochi.
Schafer emphasised the broader impact of their partnership: “Germany supports Indian farmers in making their agricultural production more climate-resilient, resource-efficient, and sustainable.” She also mentioned ongoing triangular projects in Peru and several African nations.
The outcomes of these negotiations set the stage for the upcoming Indo-German government consultations, which will take place in October 2024, in New Delhi. Prime Minister Modi and Chancellor Scholz are expected to further build on the progress made, stated the press release.
Uwe Gehlen, Head of German Development Cooperation in India, remarked: “The term ‘sustainable energy transition’ takes on a new quality when Germany and India combine their unique capabilities, setting a positive example not only in their own countries but also globally.”
This year, Germany has committed over EUR 1 billion to initiatives involving concessional loans and technical cooperation in sectors like renewable energy, urban development, forest ecosystems, water management, and sustainable agriculture.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Sep 21 2024 | 1:55 PM IS