He is expected to invite German companies to invest in India and participate in 'Make in India' initiative
Prime Minister Narendra Modi on Sunday met "movers and shakers" of German economy soon after his arrival in Hannover to attract foreign investment and seek support for his government's 'Make in India' initiative.
Modi, who reached this northern German city from Paris, held a roundtable meeting with German CEOs.
"Business is 1st in order of priority," External Affairs Ministry Spokesperson Syed Akbaruddin tweeted. Modi was accompanied by Commerce and Industry Minister Nirmala Sitharaman.
"Movers & shakers of German economy/industry meet with PM," tweeted Akbaruddin.
During his three-day stay in Germany, Modi will meet German Chancellor Angela Merkel and German business leaders.
He is expected to invite German companies to invest in India and participate in 'Make in India' initiative.
Several Indians gathered outside a hotel here, where the PM is staying, and greeted him by shouting 'Modi', 'Modi'.
Business and technology will be the focus of the trip.
He will first visit the Hannover Fair where India is a partner country this year. About 400 Indian companies are participating in the fair which will see the presence of about 100-120 Indian CEOs besides about 3000 German delegates.
Modi, along with Chancellor Merkel, will inaugurate the 'India Pavilion' of the Fair and address an India-German business summit.
He will also unveil a bust of Mahatma Gandhi in Hannover.
The two leaders will have detailed talks in Berlin with focus on how Germany can work with India in its developmental agenda.
The PM will visit a railway station in Berlin amid his government's agenda of modernising Railways. He will also visit Siemens facility there.
The two leaders will address the Hannover Fair Business Summit, which focuses on the possibilities for promoting trade and industrial cooperation between India and Germany.
They will hold detailed discussions on various aspects of bilateral relations and international issues of "mutual interest" at their official talks in Berlin on Tuesday.
Germany is India's largest trading partner in the EU and one of the top ten global trading partners.
The overall exchange of goods and services between the two countries was valued at around euro 15.96 billion last year, a drop of euro 1.14 billion from the level of euro 16.10 billion registered in 2013.
While India's exports to Germany rose marginally to euro 7.03 billion in 2014, its German imports dropped to euro 8.92 billion from euro 9.19 in the previous year, according to the Federal Statistical Office.
Germany is the 8th largest foreign investor in India. Its foreign direct investments in India during January-November 2014 was valued at around $995.7 million.
More than 1,600 Indo-German collaborations and around 600 Indo-German joint ventures are currently in operation.
