Union Commerce and Industry Minister Piyush Goyal on Wednesday held extensive discussions with German Foreign Minister Johann Wedephul on enhancing cooperation in the defence, space, innovation and automobile sectors. Emphasis was laid on strengthening bilateral trade and investment between the two countries.
Emphasis on market access and trade growth
Union Minister Piyush Goyal, while sharing information on the social media platform ‘X’, said that he co-chaired a meeting of business delegations with the German Foreign Minister. During this, market access, regulatory framework and increasing trade were discussed. Goyal said, “We also discussed cooperation in defense, space, innovation and automobile, which can increase the partnership between the two countries.”
Productive meeting, looking for new opportunities
Union Minister Piyush Goyal said in another post that the meeting was very productive. Our discussions focused on promoting bilateral trade and investment relations, as well as exploring new avenues of cooperation in innovation, sustainability, technology and other areas of mutual interest for shared growth and prosperity.
External Affairs Minister Dr. S. Jaishankar’s assurance to German companies
Apart from this, External Affairs Minister Dr. S. Jaishankar also met his German counterpart. In a joint press conference, Dr. Jaishankar said, “We are committed to improving the ease of doing business in India and I assured my German counterpart today that we are ready to pay special attention to any concerns of German companies coming to India, setting up here, working here.”
Germany: India’s major trading partner
German Foreign Minister Johann Wadeful described India as an important economic and trade partner of Germany. He said that more than 200 German companies are active in India. Germany will be India’s 8th largest trading partner in 2024-25, while it is the 9th largest investor in India with foreign direct investment (FDI) of $ 15.11 billion from April 2000 to March 2025.
