NewKerala.com

India-Germany Trade Hits Record $50 Billion, Ink Green Energy & Tech Pacts

India and Germany have elevated their strategic partnership with the signing of key Memorandums of Understanding in the presence of Prime Minister Narendra Modi and German Chancellor Friedrich Merz. Bilateral trade between the two nations has achieved a historic high, surpassing the $50 billion mark. The agreements focus on deepening cooperation in renewable energy, green hydrogen, technology, and establishing a new Centre of Excellence. The leaders also emphasized concluding a free trade agreement between India and the European Union to further unlock economic potential.

Key Points: India-Germany Trade Crosses $50B, Sign Key MoUs on Green Energy

  • Bilateral trade crosses $50B milestone
  • New India-Germany Centre of Excellence launched
  • Mega green hydrogen project announced
  • Both nations push for India-EU free trade deal
  • Cooperation expanded to sports and education
2 min read

India, Germany sign key MoUs; trade crosses $50 billion

PM Modi and Chancellor Merz witness signing of MoUs as bilateral trade hits a record high. New green hydrogen project and Centre of Excellence announced.

"More than two thousand German companies have a long-standing presence in India. This reflects their unwavering faith in India... - PM Narendra Modi"

New Delhi, Jan 12

India and Germany on Monday signed several Memorandums of Understanding in the presence of Prime Minister Narendra Modi and German Chancellor Friedrich Merz, giving a fresh boost to their strategic partnership.

Addressing a joint press conference, Prime Minister Modi said that bilateral trade between the two countries has crossed the $50 billion mark, reaching its highest level so far.

"More than two thousand German companies have a long-standing presence in India. This reflects their unwavering faith in India and the immense opportunities here," PM Modi stated.

Prime Minister Modi said that technology cooperation between the two nations has grown steadily over the years and is now visible on the ground through joint projects and investments.

"India and Germany share common priorities in renewable energy and climate action," the Prime Minister mentioned.

To strengthen cooperation in these areas, the two countries have decided to set up the India-Germany Centre of Excellence.

The centre will act as a platform for sharing knowledge, technology and innovation. Both sides are also working together on projects related to climate, energy, urban development and urban mobility.

"A new mega green hydrogen project involving companies from both countries would be a game changer for the future of energy," PM Modi noted.

The Prime Minister also highlighted cooperation in supply chains, saying that India and Germany are jointly working to build secure and trusted systems.

The two leaders also agreed to deepen cooperation in sports and education. "Sports would help connect young people from both nations, while a new roadmap on higher education would strengthen academic ties," PM Modi said.

The Prime Minister invited German universities to open their campuses in India.

Chancellor Friedrich Merz stressed the importance of concluding a free trade agreement between India and the European Union.

He said such a deal would help unlock the full potential of India-Germany economic relations.

- IANS

Share this article:

Reader Comments

S
Sarah B
As someone working in the renewable sector, the Centre of Excellence is a very promising step. Knowledge sharing in urban mobility and climate tech can lead to real solutions for our cities. Hope the execution matches the vision.
R
Rohit P
Good progress, but we must ensure these MoUs translate into jobs and technology transfer for Indian engineers and workers, not just remain on paper. The FTA with EU is crucial – hope our negotiators get a good deal for our farmers and MSMEs.
P
Priya S
Inviting German universities is a brilliant move! Our students need world-class options without the huge cost of going abroad. This, along with sports cooperation, will build strong people-to-people connections for the future.
V
Vikram M
2000+ German companies already here shows confidence in 'Make in India'. Building secure supply chains with a tech leader like Germany reduces our dependency on others. A solid, strategic partnership.
M
Michael C
The green hydrogen project could be a game-changer, as PM said. If India can become a production and export hub for green hydrogen with German tech, it positions us perfectly for the global energy transition. Exciting times.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Leave a Comment

Minimum 50 characters 0/50