India's railway modernization and expansion plans offer ample opportunities for the German rail industry, and in this regard, both Germany and India on Tuesday appreciated the significant progress made in strengthening bilateral cooperation in rail sector, especially with regard to initiatives on railway safety.
A joint statement issued after delegation-level talks held here, said that both German Chancellor Angela Merkel and Prime Minister Narendra Modi placed emphasis on manufacturing and skill development, and also encouraged their respective business enterprises to enter into arrangements for co-development and co-production of commercial aviation and defence equipment in India, including transfer of know-how and technologies.
Both sides also welcomed the entering into force of the German-Indian social security agreement on May 1, 2017. This wide-encompassing agreement includes totalisation and exportability of benefits and ensures and coordinates the social protection of nationals of both countries in the area of social security and payment of pensions even in the case of residence in the other contracting state.
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