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India a bright spot at a time of global slowdown, says PM Modi at Indo-German summit

New Delhi(PTI): Prime Minister Narendra Modi and German Chancellor Angela Merkel on Tuesday 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.

To further strengthen its presence in India, Bosch said it plans to invest Rs 650 crores (over 100 million euros) in 2015.

During the nearly two-hour long visit, the two leaders, accompanied by a high-level German delegation, walked through the Bosch Innovation Center and the vocational training centre, enquiring about the company’s research, engineering, and vocational education activities in India.

Addressing Indo-German summit, German Chancellor Angela Merkel said, “Our two countries have great opportunities in the area of digitisation, infrastructure, energy supply etc. From Germany’s side, I can say that Indian investors will be warmly welcomed.”

Stating that at a time of a global slowdown, India represents a bright spot for investments, PM Modi added, India is committed to protecting Intellectual Property Rights Rights of all innovators & entrepreneurs.”

He also said that he is hopeful to roll it out in 2016.

India sailing in the right direction but cannot be complacent; we are committed to creating favourable conditions for business.

Comprehensive national IPR policy being finalised; will be progressive and forward looking: Modi to business leaders.

Youth are not looking for high paying jobs, but are now becoming entrepreneurs. Never before was India so well prepared to absorb talent, technology & investment from outside.

It is the software of India that will move the hardware of the world.

12:21 PM
PM Modi begins address at Indo-German Summit.

Digitizing Tomorrow Together. PM & Chancellor Merkel arrive for Indo German Business Summit in Bengaluru

  • We are on the path of making India a global manufacturing hub. We are working hard to create conducive conditions for business.

  • In the last 15 months we have worked hard to make India a favourable place to set up business.

  • At a time of a global slowdown, India represents a bright spot for investments. We need to provide a huge push to manufacturing. That’s why we launched ‘Make In India’.

  • Transparent auction and allocation of spectrum and key resources have given a level playing field.

  • India is now at 9th place on UNCTAD’s ranking of investment attractiveness and jumped 16 places on WEF’s global competitiveness index.

  • We have taken decisive steps to remove long-pending concerns of investors.

  • India is committed to protecting Intellectual Property Rights Rights of all innovators and entrepreneurs.

  • India is on the threshold of a big IT revolution; where technology will be leveraged to meet aspirations of 1.25 billion citizens.

  • We are hopeful of rolling out GST in 2016.

  • FDI inflows have gone up by 40% this fiscal year.

12:15 PM

12:15 PM
PM Modi with German Chancellor Angela Merkel at Business Forum organised by NASSCOM & Fraunhofer Institute

Angela Merkel addresses the forum-

  • Around 170 German companies are represented in Bangalore which speaks a lot for our bilateral relationship.

  • German engineering & Indian brilliance in IT is fused here and actually complements each other.

  • Our two countries have great opportunities in the area of digitisation, infrastructure, energy supply etc.

  • From Germany’s side, I can say that Indian investors will be warmly welcomed.

  • PM Modi and I are working together for reform of the UN Security Council through the G-4.

10:44 AM
Preparing the next generation of technicians. PM Narendra and Chancellor Merkel at the Bosch VTC.

10:28 AM

10:14 AM
PM Modi & Chancellor Merkel get briefing on solutions developed

10:12 AM
Incubating innovation. PM Modi receives Chancellor Merkel at Bosch Engineering & Innovation Centre Bengaluru

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