Germany agrees to fast track system to help India cos

New Delhi: Germany has agreed to implement a fast track system to identify and resolve problems being faced by Indian companies and investors there.

The issue was discussed recently at a meeting in Berlin, during the visit of Prime Minister Narendra Modi. "The system would help in early resolution of problems being faced by Indian companies that have operations in Germany. Indian firms face business visa related issues among others," a senior official in the commerce and industry ministry said.

India has urged the German authorities to make the visa regime liberal for Indian businesses, said the official. India too has implemented a similar system here to help German businesses. It was set up in the Department of Industrial Policy & Promotion (DIPP). This system enables to identify and solve problems faced by German companies and investors in their operations in India.

Germany is the seventh largest investor in India. The country has received USD 9.7 billion foreign direct investment from the European country between April 2000 and March this year. This is 3 per cent of the total FDI received by India during this period.