Union Commerce and Industry Minister Piyush Goyal has unveiled an ambitious vision for India-Germany partnership, stating that combined trade agreements could cover 75% of global GDP within 12-18 months. Speaking at the Berlin Global Dialogue during his two-day official visit to Germany, Goyal emphasized the potential of combining German precision engineering and technology with India's talent pool and cost-effective manufacturing capabilities to serve global markets. "Can you imagine German precision technology and engineering, Indian talent and affordable costs of manufacturing, serving the globe? That's the ambition that I have come to invite you to," Goyal said, highlighting the potential of their combined strengths. The minister noted that with the deep, trusted partnership between Germany and India, and our institutions, and our people, our businesses, and the conclusion of the India-EU FTA, we have opened up a new chapter for research cooperation and co-innovation.
Commerce and Industry Minister Piyush Goyal has confirmed that German companies are increasingly viewing India as a strategic hub for manufacturing, research and development, and innovation alongside its role as a key consumer market. Speaking after concluding his two-day visit to Germany, Goyal said he held bilateral meetings with representatives from Siemens Healthcare, Bertelsmann Investment, Volkswagen and Skoda. "The CEOs echoed one message - German companies no longer see India only as a market, but as their partner, as a base for manufacturing, for research and development, for innovation," he emphasized. Goyal noted that around 2,000 German firms currently operate in India, with cumulative German FDI equity inflows standing at $15.6 billion between April 2000 and March 2026. He added that India's over 2,100 global capability centres (GCCs) employ millions of people, with individual centres ranging from a few hundred employees to several lakh.
Commerce and Industry Minister Piyush Goyal has set an ambitious target of increasing bilateral trade with Germany tenfold to €310 billion, urging businesses to forge partnerships ahead of the India-EU Free Trade Agreement implementation. Speaking at the inauguration of the India Centre and Indo-German Business Forum in Berlin, Goyal said the FTA could be signed by December and implemented within four to five months. "We had €31.5 billion (in 2025) and (if) we were to be able to add a zero to that, make it €310 billion euros. How would that sound? Now, we can certainly make that happen," he emphasized, urging companies to prepare to "trade, invest smarter, faster and get the best out of this agreement." India-EU trade stood at €118 billion in 2025, with the agreement having received unanimous support from all 27 EU member states. Goyal added that the success of the India-EU free trade agreement will be measured by new business, new orders, greater investments, and technology partnerships.
German companies are actively exploring investment opportunities in India across multiple sectors, with German companies publicly announcing investments worth $7.4 billion in India, according to Commerce Minister Piyush Goyal. Speaking to reporters during his visit to Germany and The Netherlands, Goyal highlighted growing business interest as European firms look to diversify manufacturing and supply chains. More than 2,000 German companies currently operate in India, with cumulative German FDI equity inflows standing at $15.6 billion between April 2000 and March 2026. Goyal emphasized that "Today the greatest imperative before German industry is to cut costs and become more competitive in global markets. Therefore, they are looking at manufacturing in a much greater degree in India." He noted that German companies are planning significant expansions, with most aiming to double or triple their operations over the next two to five years. Goyal also indicated that India could emerge as an important export base for automobiles.
Commerce and Industry Minister Piyush Goyal will embark on a comprehensive diplomatic mission to Germany and the Netherlands from October 22-27, accompanied by approximately 100 business leaders and entrepreneurs. According to an official statement, the visit aims to strengthen bilateral trade and investment corridors while highlighting India's macroeconomic stability and manufacturing capabilities. The mission will focus on India's pivotal role in building resilient global supply chains and accelerating technological cooperation in advanced engineering, green mobility, and clean technology sectors.
During October 24-27 in the Netherlands, Goyal will lead comprehensive government-to-government engagements in The Hague, with the Netherlands being India's fourth-largest source and largest source within the EU for cumulative FDI equity inflows, with about $58.1 billion invested between April 2000 and June 2026. The bilateral merchandise trade stood at $23.3 billion in 2025-26, with the Netherlands serving as India's largest trade and investment partner within the EU. The visit includes meetings with the King's Commissioner of North Holland and members of Dutch parliamentary committees on foreign trade and European affairs. The Indian delegation will visit the Port of Rotterdam on October 25 to examine its logistics and supply chain infrastructure. On October 26, Goyal and the Dutch minister for foreign trade and development cooperation will address businesses at the India-Netherlands Business Forum in The Hague. The forum will be followed by six sectoral roundtables and business-to-business networking sessions covering food processing, high technology, innovation, renewable energy, logistics, manufacturing, pharmaceuticals, textiles, engineering goods and services.
Bilateral trade between India and Germany rose by approximately 5% to $31 billion in 2025-26, with exports of $11.52 billion and imports of $19.5 billion, as reported by the commerce ministry. Germany was India's eighth-largest trading partner and largest trading partner in the EU, accounting for roughly one-fourth of India's trade with the European Union. German investments in India totaled $495 million in the last fiscal year, with over 2,000 German companies active in India across sectors including transportation, electrical equipment, and automobiles. Indian services exports to Germany were $10.36 billion and Indian services imports from Germany were $6.40 billion in 2025. Major Indian exports include machinery, clothing, chemical products, pharmaceuticals, coal and petroleum items, steel and other metals, data processing equipment, electrical and optical products, leather and leather goods, electrical equipment, and textiles. Germany's Minister for Economic Affairs and Energy Katherina Reiche noted that bilateral trade remained below potential, with India not featuring among Germany's top 20 trading partners despite goods trade worth around €31 billion in 2025. She called for greater investment and industrial partnerships, with German companies having an investment stock of over €28 billion in India.
