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Prime Minister Narendra Modi announced that India and Germany, both nations, decided to transform their economic partnership into a "limitless" collaboration, extending deeper cooperation into strategic sectors.
Speaking at the India-Germany CEOs Forum, the Prime Minister stated that Chancellor Merz's decision to choose India for his first trip to Asia reflects India's central role in Germany's diversification strategy and indicates high levels of trust. "We have decided to make this seamless economic partnership limitless. This means that along with traditional economic sectors, there will now be deeper cooperation in strategic sectors as well. In the defence sector, we are exchanging a Joint Declaration of Intent today," the Prime Minister said. He said that India is maintaining a growth rate of over 8 per cent driven by comprehensive reforms across strategic sectors including defence, space, mining, and nuclear energy. The reduction of compliance burdens and the enhancement of the ease of doing business have positioned India as a global symbol of growth and optimism. He noted that the India-EU Free Trade Agreement is expected to materialize soon, which will facilitate a new chapter for trade, investment, and bilateral partnerships. The Prime Minister invited German industry to integrate its precision and innovation with India's scale and speed. He assured the forum that the Indian government intends to strengthen cooperation through stable policies and a long-term vision. "The path is clear for you here. I invite German precision and innovation to combine with India's scale and speed. You can manufacture in India, take full advantage of domestic demand, and export without any restrictions. On behalf of the government, I assure you that India will further strengthen its cooperation with Germany through stable policies, mutual trust, and a long-term vision," Modi said. According to the Prime Minister, the India-Germany partnership is mutually beneficial and contributes to global stability, particularly as India moves toward leadership in green hydrogen, solar, wind, and biofuels. Opportunities for German companies are expanding in the manufacturing of solar cells, electrolysers, batteries, and wind turbines. "This offers immense manufacturing opportunities for German companies in areas such as solar cells, electrolysers, batteries, and wind turbines. Together, we can develop solutions for the world, from e-mobility to food and health security. India has an all-inclusive vision for AI, and when Germany's AI ecosystem connects with it, we can ensure a human-centric digital future," Modi stated. Furthermore, the two countries agreed to transform trusted partnerships into technology partnerships, focusing on critical and emerging technologies. The Prime Minister identified "semiconductors, power electronics, biotech, fintech, quantum computing and cyber security" as areas with immense possibilities. As the nations celebrate the platinum jubilee of their relations, bilateral trade has surpassed the "fifty billion dollar mark." This growth is supported by collaboration between Indian MSMEs and Germany's Mittelstand, as well as joint ventures in the automotive, chemical, and energy sectors. (ANI)
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