India, Germany Vow to Deepen Trade Ties, Target Doubling Bilateral Commerce

Union Minister of Commerce & Industry Shri Piyush Goyal today held a high-level meeting with Dr. Johann David Wadephul, Minister for Foreign Affairs of the Federal Republic of Germany, who is on an official visit to India. The talks focused on strengthening bilateral trade and investment ties, expanding cooperation in technology, sustainability, and innovation, and addressing outstanding issues impacting businesses on both sides.

Focus on Strategic Economic Partnership

Germany, India’s largest trading partner within the European Union, plays a critical role in shaping India’s engagement with the EU. The meeting underscored the shared ambition of both countries to double bilateral trade in goods, which reached a record USD 29.12 billion in 2024–25, and further boost services trade.

Both leaders reaffirmed their commitment to an ambitious conclusion of the India–EU Free Trade Agreement (FTA), highlighting its potential to create new market opportunities, lower tariffs, and address non-tariff barriers.

German Business Delegation in India

Dr. Wadephul was accompanied by a high-level German business delegation, including executives from Thyssenkrupp, Siemens Mobility, Allianz, and Flix SE. The delegation participated in an interactive business engagement session attended by Indian industry leaders from sectors such as automotive components, healthcare, space, and steel.

The discussions focused on:

• Supply chain resilience and diversification, especially in critical technologies.

• Skill development and vocational training, leveraging Germany’s expertise in industry-led skilling models.

• Sustainability and green technologies, particularly in renewable energy, mobility solutions, and clean manufacturing.

• Migration and mobility, including the need to streamline visa processes for professionals, researchers, and students.

India’s Growing Attractiveness as a Global Hub

During his interaction with German CEOs, Shri Goyal underlined India’s macroeconomic strength and business-friendly environment. He noted that India:

• Is the fastest-growing major economy, on track to become the world’s third-largest.

• Contributes nearly 20% of global growth.

• Has record foreign exchange reserves and low inflation.

• Boasts a vibrant start-up ecosystem with strong innovation potential.

He assured the German delegation of full support from the Government of India and encouraged them to expand manufacturing bases, enhance R&D activities, and build new facilities in India.

German Confidence in India’s Growth Story

German businesses expressed strong confidence in India’s economic trajectory and reaffirmed their intent to deepen their presence. They highlighted opportunities in automotive engineering, digital technologies, financial services, and industrial manufacturing, while also acknowledging India’s role in helping global companies achieve sustainability and net-zero goals.

Many CEOs reaffirmed their alignment with Prime Minister Narendra Modi’s vision of Viksit Bharat 2047, signaling long-term partnership in India’s development journey.

Strengthening Strategic Partnership

The visit and dialogue highlighted the broader India–Germany Strategic Partnership, which spans trade, investment, climate action, science, and education. Both sides reiterated their commitment to building a future-ready economic relationship, one that leverages technology, talent, and trust to address global challenges.

As the meeting concluded, it was evident that India and Germany are charting a path of closer economic integration, stronger business collaboration, and shared leadership in shaping resilient global value chains.