India, Germany sign pacts worth Rs 5,250 crore

• India and Germany on Wednesday signed agreements on financial and technical cooperation worth Rs 5,250 crore within the framework of the Indo-German development cooperation.

• German Ambassador to India Martin Ney and Finance Ministry Joint Secretary Sameer Kumar Khare signed the agreements marking 60 years of successful Indo-German development cooperation.

• As part of the cooperation, areas such as infrastructure development, urban mobility and climate resilience that go along the Indian government’s ‘smart cities’ initiative are being promoted.

• At the beginning of December last year, Germany pledged 1,055 euros for development cooperation with India during the Indo-German inter-governmental negotiations in Delhi.

• Environmental and resource protection is also one of the funded areas of the cooperation. Vocational training and social protection and the promotion of Indian women entrepreneurs are other areas of focus.