India and Germany have signed an umbrella agreement on financial and technical cooperation in the field of energy, environment and management of natural resources.

In a statement in New Delhi, German Ambassador Michael Steiner said that the signed agreement clearly shows the determination to further strengthen the long-standing partnership with India in the field of development co-operation.

The statement said, India and Germany had negotiated about 723 million euros worth projects in 2012 as part of a pact on development cooperation between them.

Yesterday's agreement was signed by German Embassy's Deputy Chief of Mission Cord Meier-Klodt and Joint Secretary in the Department of Economic Affairs Rajesh Khullar.