Finance
Prime Minister Shri Narendra Modi co-chaired with H.E. Mr Olaf Scholz, Chancellor of the Federal Republic of Germany, the Plenary session of the India-Germany Inter-Governmental Consultations (IGC).
In their opening remarks, both leaders highlighted key aspects of the bilateral relationship as well as shared perspectives on regional and global issues. Prime Minister emphasized that India-Germany partnership could serve as an example of success in a complex world. He also invited German participation in India’s Atmanirbhar Bharat campaign.
Participating ministers and officials from both sides presented brief reports on their meetings on the different tracks of the IGC:
- Foreign Affairs and Security.
- Economic, Financial Policy, Scientific and Social Exchange.
- Climate, Environment, Sustainable Development and Energy.
Finance Minister Smt. Nirmala Sitharaman; External Affairs Minister Dr. S Jaishankar; MoS (IC) for Science &Technology and Earth Sciences Dr. Jitendra Singh; and Secretary DPIIT Shri Anurag Jain, made presentations from the Indian side.
The Plenary session concluded with the signing by Prime Minister and Chancellor Scholz of the Joint Declaration of Intent (JDI) establishing the Green and Sustainable Development Partnership. This Partnership envisages a whole-of-government approach to India-Germany cooperation on SDGs and climate action, under which Germany has agreed to make an advance commitment of 10 billion Euros of new and additional development assistance until 2030. This JDI will also create a Ministerial mechanism within the framework of the IGC to provide high-level coordination and political direction to the Partnership.
A Joint Statement was adopted after the IGC, which may be seen here.
A number of agreements was concluded during the ministerial bilateral meetings. The list may be seen here
Source:PIB
