PM Narendra Modi meets German Chancellor Angela Merkel: 5 things to know

India and Germany on Monday gave a major boost to their bilateral ties, especially in the economic field, as Prime Minister Narendra Modi and German Chancellor Angela Merkel held talks in the national capital.

"We see Germany as a natural partner in achieving our vision of India's economic transformation. German strengths and India's priorities are aligned. And, so is our mutual goodwill," Modi said, after holding the 3rd Inter-Governmental Consultation with Merkel in New Delhi.

As the two leaders jointly addressed a press conference and announced a host of deals, Merkel said the inking of so many agreements is a "testimony to the dynamic relations".

Here are five that you should know about:

1. India will fast-track approvals to German companies: India and Germany signed a deal today to fast-track business approvals , that will make it easier for German companies to operate in Asia's third-largest economy.  The agreement is a first of its kind and comes as PM Modi seeks to attract foreign investment in support of his "Make in India" drive to boost industrial investment and create skilled jobs in the country. "The speed at which you grant licences has increased, which is a good thing," Merkel said at the briefing.

2. Boost worth $2.25 billion for clean energy: Both agreed on the India-Germany Climate and Renewable Alliance for combating climate change. Germany will provide India with 1 billion euros, each, for India's Green Energy Corridor project and country-wide solar projects . "I admire German leadership in clean energy and commitment to combating climate change," Modi told journalists after meeting Merkel.

3. 18 MoUs: The agreements include one on security cooperation and another for promotion of German as a foreign language in India and for the promotion of Modern Indian languages in Germany. Agreements on security cooperation, Solar Energy Partnership, cooperation in the field of Skill Development and Vocational Education and Training, on Security Cooperation, Railways and for cooperation in disaster management were also inked. Both sides have also agreed to boost partnership in areas of defence manufacturing, trade in advanced technology, intelligence, and countering terrorism and radicalism.

4. Free-Trade talks: Modi and Merkel also pushed for a revival of free trade talks between India and European Union at the earliest opportunity. "They ... underlined their sustained commitment to a comprehensive trade and investment agreement between the EU and India, and committed themselves to bringing about the earliest possible resumption of talks," said a joint declaration.

5. Germany supports India's UNSC candidature: Merkel also assured Germany's support for India's permanent seat at the UN Security Council. "I welcome Germany's strong support for India's membership of the international export control regimes. As we discussed in the G4 Summit in New York, Chancellor and I are committed to pursue reforms of the United Nations, especially the Security Council," Modi said. Both leaders also reiterated their full support for each other's candidatures for a permanent seat in a reformed UN Security Council, according to the joint statement.

What also happened:

Merkel returned a 10th century statue of Durga in her Mahishasurmardini avatar from Jammu and Kashmir. Modi said the statue is a symbol of the victory of good over evil. "This also suggests that in this age of transitions and turmoil, India-Germany partnership will be a force of good for the world," the prime minister said.