India and Germany agreed to enhance cooperation in trade and technology. Germany supported the India-EU Free Trade Agreement. Both countries will strengthen partnerships in investment, AI, and space sectors.
India-Germany Relation: The meeting between External Affairs Minister Dr. S. Jaishankar and German Foreign Minister Annalena Baerbock is considered significant in strengthening India-Germany relations. Both leaders discussed global challenges in detail and shared the goal of doubling bilateral trade. It became clear during the meeting that both countries are ready to take trade cooperation to new heights.
Prospects of Free Trade Agreement
German Foreign Minister Baerbock mentioned the ongoing negotiations for a Free Trade Agreement (FTA) between India and the European Union (EU). She stated that this agreement could materialize in the coming months, which would boost trade between both nations. She also clarified that efforts would be made to reduce any trade barriers if any country imposes them. This indicates that cooperation between the two countries will remain b amidst global tariff wars and economic challenges.
Economy and Boost in Bilateral Trade
Jaishankar and Baerbock also discussed new opportunities in trade and economy. Last year, India-Germany bilateral trade was approximately 50 billion Euros. Germany has set a target to double this trade, and India has also reiterated its commitment in this direction. Jaishankar assured that German companies would not face any difficulties in doing business in India, and the Indian government would address all their concerns.
Cooperation in Technology and Innovation
India-Germany cooperation is not limited to trade alone. German Foreign Minister Baerbock visited the Indian Institute of Science (IISc) and ISRO in Bengaluru, where she witnessed India's technological prowess and described India as an "innovation powerhouse." Both countries agreed to enhance cooperation in areas such as space, artificial intelligence (AI), and cybersecurity.
Plans to Link Scientific Cooperation with Industries
Jaishankar stated that it is time to link the scientific cooperation, ongoing for the past 50 years, with industries. India has welcomed Germany's interest, particularly in sectors like semiconductors and aerospace. This will not only increase technological collaboration but also create employment and investment opportunities.
