Embracing the idea of a progressive tomorrow, India under the leadership of PM Modi has signed a pact with Germany on Monday owing to the spread of foreign investments in the native land. The pact that deals with the concept of ‘fast track business approvals’ applicable to India has a lot to promise.
In order to make the foreign investment scenario easy and conducive for German companies in India, PM Modi has signed a MoUs deal on Monday! As per the deal, India will set a ‘fast-track’ approval process that will keep note on the German firms, making the entire procedure easy by setting one ‘single’ point of reference in the integral administrative setup. Through this process, a firm will now be able to set contact with just one official, who will thereafter lead the case single handedly.
The ‘first of its kind’ agreement signed by PM Modi is a direct aim to attract foreign investments in India. Needless to say, the ‘Make in India’ program initiated by Modi is likely to get benefited with this latest deal. With the help of foreign investments and skilled job prospects in India, the Make in India initiative will be promoting the urge of self-dependence in the country.
According to Amitabh Kant, the Commerce Secretary and Key Driver of Make in India, “the fast track arrangement will be a constructive boost in monitoring the monthly base of all the German companies”. As India is in its journey to grow, we undertake German as a ‘Huge’ prospect, added Kant. Starting from the renewable energy to the skill India development call, the 18 MoUs pact signed between India and Germany covers everything underneath.
Let’s have a quick glimpse about the key features of the deal:
- India and Germany to promote German and Modern Indian Languages as a key foreign language.
- Fostering cooperation by maintaining records and summary of the negotiations.
- Fostering partnership for solar energy.
- Enabling security cooperation between Indo-German.
- Ensuring aviation security.
- Setting up fast track management system.
- Effective aid for disaster management.
- Maintaining cooperation in agricultural studies.
- Encouraging participation of India’s young scientist in Nature science.
- Enabling support for higher education.
- Supporting railway structure and cooperation.
- Protecting plant products.
- Enabling food security.
As declared, Germany will be providing an assistance of one billion euros to India for the green energy corridor and solar projects. PM Modi added his appreciation in German’s clean energy drive, calling it a ‘driving commitment of combating climate change’. During the meeting, Germany also returned India’s 10 century old ‘Durga Statue’ in Mahishasurmardini avatar.