India, Germany Seek to Double Trade, Push India-EU FTA Towards Conclusion: Jaishankar

New Delhi — External Affairs Minister (EAM) S. Jaishankar on Wednesday said that India and Germany are working towards doubling bilateral trade and pushing the India-EU free trade agreement (FTA) negotiations to a decisive conclusion, amid major shifts in the global strategic and economic order.

Bilateral trade between the two nations has expanded steadily over the past decade, reaching a record $33.4 billion (28 billion euros) in 2024.

Speaking at a joint press conference with visiting German Foreign Minister Johann Wadephul, Jaishankar said, “In an earlier interview, the minister had expressed confidence that our trade would double. Let me assure him that India fully shares that vision. We are committed to improving ease of doing business and addressing any concerns German companies may have while entering or operating in India.”

He noted that global volatility underscores the need for deeper cooperation. “The changes we see in the world make a very compelling case for India and Germany, as well as India and the EU, to work much more closely. This relationship offers significant potential for rapid growth,” Jaishankar said.

Wadephul reaffirmed Germany’s strong economic ties with India, calling it a “rising economic powerhouse” of special importance on the world stage. He added that over 200 German companies are active in India and reiterated Berlin’s full support for concluding the India-EU FTA.

Germany was India’s 8th largest trading partner in 2024–25, after ranking 12th in 2023–24 and 11th in 2022–23. It is also the 9th largest foreign direct investor in India, with cumulative FDI inflows of $15.11 billion between April 2000 and March 2025.

With inputs from IANS