Commerce and Industry Minister Piyush Goyal on Thursday said he held a productive meeting with Germany's Federal Minister for Economic Affairs and Energy, Katharina Reiche, to strengthen cooperation between Indian and German industries, IANS reported from Berlin.

Source: IANS via Hi India

The two ministers discussed opportunities in artificial intelligence, semiconductors, advanced manufacturing, critical minerals, green hydrogen, renewable energy, energy storage and resilient supply chains, as well as increased German investment in India's industrial and digital ecosystems, according to Goyal's statement reported by IANS.

"We also exchanged views on how the India-EU FTA will prove to be a gamechanger that would help businesses in both India and Germany realise their full potential," Goyal said, in remarks carried by IANS and Nation Press.

Source: Nation Press

Goyal is leading representatives of around 100 businesses and startups on an official visit to Germany and the Netherlands from October 22 to 27, aimed at deepening India's strategic economic partnerships and advancing industrial and technological collaboration, according to an official statement issued on Wednesday.

During the German leg, Goyal is scheduled to take part in the Berlin Global Dialogue and hold further high-level bilateral meetings, including with the Economic and Financial Policy Advisor at the Federal Chancellery, who also serves as Germany's G7 and G20 Sherpa.

Why it matters

Germany is India's largest trading partner within the European Union. Progress on the long-negotiated India-EU free trade agreement — relaunched in 2022 after talks collapsed in 2013 — would open European markets wider to Indian industry while bringing more German technology and investment into India.