Germany offers support to India for high speed rail, smart cities

NEW DELHI: Germany wants to support India in developing high-speed railway, smart cities and renewable energy, a senior official said on Tuesday.

"Germany's economy and exports are on a good path. We need to strengthen our business abroad," said Uwe Backmeyer, Germany's Parliamentary state secretary unveiling a new strategy paper detailing a fresh stimulus for tenders for major international projects.

However, the extent and form of support will depend on the project, the minister said and added that development of port facilities is also an area of interest for the European country. There are almost 1,700 German companies present in India.

"The terms of project financing will depend on individual project," he said.

On ease of doing business in India, Backmeyer mentioned red tape, multiple taxes and lack of coordination between centre and states as hurdles in doing so.