Amid significant changes in the global strategic landscape, India and Germany have agreed to double their bilateral trade.
External Affairs Minister (EAM) S Jaishankar said on Wednesday that both sides also want the India-EU free trade agreement (FTA) negotiations to move to a decisive conclusion soon.
Bilateral trade between India and Germany has grown steadily over the past decade. It reached a record high of $33.4 billion (28 billion euros) in 2024.
In a joint press briefing with visiting German Foreign Minister Johann Wadephul, Jaishankar recalled that his counterpart had earlier expressed confidence in doubling the trade volume.
“Let me assure him that India fully reciprocates that sentiment. We look forward to working with the German government towards this,” he said.
EAM Jaishankar stressed that India is committed to continuously improving the ease of doing business. He assured Wadephul that any concerns German companies face while coming to India, setting up operations, or expanding will receive special attention.
He underlined that global volatility and economic shifts demand closer cooperation between India, the European Union, and Germany.
“This is a relationship where there are considerable possibilities for fairly rapid growth,” Jaishankar said, adding that ongoing changes make a ‘compelling case for a deeper, stronger, wider India-Germany relationship’.
Wadephul called India a ‘rising economic powerhouse’ with ‘special importance’ on the global stage. He affirmed Germany’s support for finalising the India-EU FTA and noted that more than 200 German companies are already active in India.
Germany was India’s 8th largest trading partner in 2024-25, up from 12th in 2023-24 and 11th in 2022-23. It is also the 9th largest foreign direct investor in India, with a cumulative FDI of $15.11 billion between April 2000 and March 2025.
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