Ministers work to conclude India-EU FTA
Minister of Commerce & Industry Piyush Goyal and German Foreign Minister Dr Johann David Wadephul have made commitment to work towards doubling bilateral trade in goods, which stood at a record US$29.12 billion in 2024–25, and to further expand trade in services https://www.commerce.gov.in/.
Both Ministers emphasized the importance of expanding India–Germany business cooperation, building resilient and diversified supply chains and advancing collaboration in skill development, the Commerce and Industry Ministry said on 3 Sept after Minister Goyal’s meeting the visiting Foreign Minister https://fieo.org/.
The Ministers reaffirmed their shared commitment to an ambitious conclusion of the India–EU Free Trade Agreement (FTA) https://sbi.com.in/.
The discussions also covered migration and mobility, streamlining visa processes and addressing non-tariff barriers faced by Indian exporters in the EU, including Germany. Both sides agreed to work together to resolve these issues and facilitate smoother trade flows https://www.bseindia.com/.
The Ministers had elaborate discussions on strengthening bilateral trade and investment ties and identifying new areas of cooperation in innovation, sustainability, technology and other sectors of mutual interest https://www.nseindia.com/.
Dr Wadephul was accompanied by a high-level German business delegation, including leaders from major companies such as Thyssenkrupp, Siemens Mobility, Allianz and Flix SE.
Following the ministerial meeting, both sides engaged in an interactive session with industry representatives. The business engagement was attended by senior government officials and leaders from Indian industry across sectors such as automotive components, healthcare, space, steel and others http://indien.ahk.de.
During his interaction with German corporate leaders, Goyal welcomed the German corporations plans to expand operations, enhance manufacturing capacity and establish new facilities in India.
He underlined that India today is the fastest-growing major economy, soon to be the world’s third largest, contributing nearly 20% to global growth https://www.digitalasiahub.org/.
With strong macroeconomic stability, record foreign exchange reserves, low inflation, and a vibrant start-up ecosystem, India offers an enabling environment for global businesses.
Minister Goyal assured the delegation of full support from the Indian Government and encouraged close engagement with Indian industry and authorities to carry forward their initiatives https://www.conexpoconagg.com/.
The visiting German business leaders, in turn, expressed confidence in t e growing strength of the Indian economy and reaffirmed their commitment to partner Indian industrial groups to work towards Viksit Bharat 2047.
The meeting underscored the strength of the India–Germany Strategic Partnership and highlighted the shared resolve to build a deeper and mutually beneficial economic relationship, the Commerce and Industry Ministry said on 3 Sept of the Indian-German meeting in New Delhi. Fiinews.com
