Skip to content
Search

Latest Stories

Modi, Merkel sign wide-ranging agreements

Easterneye.Biz Staff
By Easterneye.Biz StaffNov 01, 2019
Easterneye.Biz Staff
See Full Bio

GERMAN Chancellor Angela Merkel and Indian prime minister Narendra Modi signed wide-ranging agreements in New Delhi on Friday (1) to deepen strategic cooperation and exchanged notes on ways to boost bilateral trade.

Merkel, accompanied by several cabinet colleagues and a business delegation, is in India on a three-day visit that began on Thursday (31).

"We're encouraging our private sectors to give an impetus to our growing bilateral trade and Chancellor Merkel and I will meet some of the top business and industry leaders," Modi told a joint news conference with the German leader.

"We're encouraging our private sectors to give an impetus to our growing bilateral trade and Chancellor Merkel and I will meet some of the top business and industry leaders," Modi said.

Bilateral trade between the two countries rose to $24.06 billion in the 2018-19 fiscal year ending in March from $22bn the previous year, while German companies have invested nearly $12bn in India since 2000.

Germany is India's largest trading partner in Europe and more than 1,700 German companies are operating in India.

The agreements struck on strategic cooperation, included agriculture, cyber security and artificial intelligence.

Modi said the two countries would also bolster ties to combat "terrorism and extremism".

Germany and India also agreed to join hands in the area of education.

"As many as 20,000 Indian nationals are studying in Germany and we would like to see more," Merkel said.

Although Merkel and Modi didn't mention anything about restarting talks on finalising a free trade agreement between India and the European Union, sources earlier said the two leaders could take up the trade deal.

Eric Schweitzer, president of the Association of German Chambers of Commerce and Industry (DIHK), earlier said India had enormous potential but there has been uncertainty among companies after an investment protection agreement between the two countries ended in 2016.

"Small and medium-sized German companies stand in a labyrinth of regulations and shy away from larger investment. Negotiations should restart and Merkel's visit could help," he said.

VDA, Germany's car industry association that counts automakers like Volkswagen, Daimler, BMW and Audi as members, also wanted India to restart the FTA talks.

Daimler's Mercedes-Bez, BMW and Audi dominate India's luxury car market.

(Reuters)

narendra modiangela merkelindiannew delhigerman

Related News

Comment: 'Adolescence’ sparks a much-needed debate about young men
Featured

Comment: 'Adolescence’ sparks a much-needed debate about young men

Manoj Bharathiraja
Entertainment

Tamil actor-director Manoj Bharathiraja passes away at 48 due to cardiac arrest

Bianca Censori and Kanye West
Entertainment

Bianca Censori reportedly trying to escape Kanye West’s grip, but he won’t let go

modi-trump-getty
Business

India open to tariff cuts on £17.7 bn worth of US imports: Report

More For You

tata-steel-green

Artist’s impression of Tata Steel’s state-of-the-art Electric Arc Furnace facility being built in Port Talbot. (Image credit: Tata Steel)

Tata Steel

Tata Steel hires local firms for Port Talbot project, creating 300 jobs

TATA STEEL has appointed three South Wales contractors to support its £1.25 billion investment in green steelmaking at Port Talbot. The contracts will create over 300 skilled jobs in the local supply chain.

Bridgend-based Darlow Lloyd & Sons will oversee excavation, recycling, infrastructure, and drainage work for the transition to Electric Arc Furnace (EAF) steelmaking.

Keep ReadingShow less
Survey Reveals More Britons Reducing Everyday Spending

About 43 per cent of consumers said they were cutting back on everyday purchases, while more than a third reported increasing their savings as a precaution. (Photo: Getty Images)

Getty Images

Survey shows more Britons cutting back on everyday expenses

CONSUMERS in the UK are reducing spending on everyday items as confidence in the economy declines ahead of chancellor Rachel Reeves’s spring statement, according to a KPMG survey.

The survey, conducted among 3,000 UK consumers, found that 58 per cent believed the economy was worsening in the three months to February, up 15 percentage points from the previous quarter, The Guardian reported.

Keep ReadingShow less
Morrisons Shuts Down 52 Cafes and 17 Convenience Stores

Morrisons is not alone in closing cafes

Getty Images

Morrisons announces closure of 52 cafes and 17 convenience stores

Supermarket giant Morrisons is set to close 52 cafes and 17 Morrisons Daily convenience stores, putting hundreds of jobs at risk. The closures come as part of a broader effort to streamline operations, enabling the company to focus on areas of the business where customers are perceived to derive the most value.

The closures will also affect various in-store services such as meat and fish counters, pharmacies, and all 18 of Morrisons’ market kitchens, which serve freshly made meals to take away. These changes are expected to roll out over the coming months, with around 365 employees facing potential redundancy. Although Morrisons has expressed its intention to redeploy affected staff, the job cuts remain a major concern for workers.

Keep ReadingShow less
23andMe

Many users trusted 23andMe with some of their most sensitive personal information

Getty Images

DNA data of millions at risk as 23andMe declares bankruptcy

The recent Chapter 11 bankruptcy filing by genetic testing company 23andMe has raised serious concerns about the privacy and security of the DNA data of millions of users. Founded in 2006, 23andMe has long been a leader in consumer genetic testing, offering individuals insights into their predisposition to various diseases and the possibility of connecting with unknown relatives. However, with the company now seeking buyers in bankruptcy proceedings, the sale of this genetic data has become a source of alarm for privacy advocates and experts.

Many users trusted 23andMe with some of their most sensitive personal information, their DNA. However, as the company faces financial struggles, privacy experts warn that the future handling of this data may be far less secure. Tazin Kahn, CEO of the nonprofit Cyber Collective, which promotes privacy and cybersecurity for marginalised groups, expressed deep concern about the potential consequences. “Folks have absolutely no say in where their data is going to go,” she said. “How can we be so sure that the downstream impact of whoever purchases this data will not be catastrophic?”

Keep ReadingShow less
uk construction

The construction sector accounts for around 6 per cent of gross domestic product and supports growth in other industries.

iStock

Government pledges £600 million to address construction skills gap

BRITAIN will invest £600 million to train construction workers and address skills shortages that could affect its plan to build 1.5 million homes by 2029 and support economic growth, the government announced on Saturday.

Housebuilding and infrastructure development are central to the Labour government’s growth strategy. The construction sector accounts for around 6 per cent of gross domestic product and supports growth in other industries.

Keep ReadingShow less
© Copyright 2025 Garavi Gujarat Publications Ltd & Asian Media Group USA Inc