India and Germany today signed an agreement to set up a separate body to fast-track investments by German companies in the country .
German Chancellor Angela Merkel, who is currently on a visit to India, held talks on stepping up bilateral cooperation with Prime minister Narendra Modi here.
The agreement, signed between Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce, and Ministry of Economic Affairs and Energy (Germany), will set up a separate body which will be functional by March 2016, according to a senior official of the German embassy in India.
The body will fast-track investments by German companies into India by regularly screening problems faced by them.
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