Finance Minister Nirmala Sitharaman senior German leaders and industrialists during her visit to Germany, discussing bilateral trade ties in the backdrop of the India-EU Free Trade Agreement (FTA) and ways to scale up cooperation in manufacturing, technology and agriculture.
On Saturday, Sitharaman met Lars Klingbeil, Vice Chancellor and Federal Minister of Finance of Germany, and discussed the recent meeting between Prime Minister Narendra Modi and Federal Chancellor Friedrich Merz in India in January, which strengthened bilateral ties, particularly in defence, trade and technology. Merz was on an official visit to India from January 12 to 13, accompanied by a high-level delegation that included 23 leading German CEOs and industry leaders.
During her interaction with Klingbeil, the India-EU FTA was described as a major step forward for trade and investment. Discussions also focused on bilateral development cooperation and metro rail expansion projects in India, according to a post by the Finance Ministry on X.
Sitharaman highlighted the success of India’s digital payments ecosystem and expressed willingness to share best practices related to India’s digital public infrastructure with Germany.
The Finance Minister also met Brigitte Haas, Prime Minister of Liechtenstein, and Alois Philipp Maria, in Munich. The leaders discussed ongoing investments by Liechtenstein-based companies in India and explored ways to further strengthen partnerships in manufacturing, environment-friendly technologies, agricultural equipment and climate action.
In a separate meeting with Christine Lagarde, President of the European Central Bank, both sides noted the finalisation of the India-EU FTA in January 2026. Sitharaman underlined the potential role of the European Central Bank in facilitating trade flows under the agreement. She also stated that under the Union Budgets for FY2025-26 and FY2026-27, India will permit EU banks to open up to 15 branches over four years under the FTA framework.
Earlier, Sitharaman met Oliver Zipse, Chairman of the Board of Management of BMW AG. The discussions focused on India’s economic reforms, policy continuity and the stability of the investment climate.
-IANS
