Commerce Minister Piyush Goyal finished a two‑day visit to Germany, meeting CEOs of Siemens Healthineers, Volkswagen, Skoda and others in Berlin. He said the companies now view India as a base for manufacturing, R&D and innovation, not just a market.
Goyal highlighted that 2,000 German firms operate in India and that Indian talent and manufacturing capacity can help the firms cut costs and stay competitive globally. He added that most German businesses plan to double or triple their Indian operations within two to five years.
The ministers also discussed green hydrogen, financial assistance and other climate initiatives. Goyal noted that India has surpassed its nationally determined contributions ahead of the Paris Agreement and that Europe wants to partner on clean technologies.
The India‑EU free trade agreement reached in January is set to be signed before year‑end and could enter force in 2027, which the ministers said would spur new orders, higher investments and joint technology ventures.
The next major step is the signing ceremony, expected in December, after which German firms will formalize expansion plans and the Indian government will launch incentive programmes to attract further investment.