India and Germany have always been important trade partners – in fact Germany is India’s largest partner in the European Union and ranks in global partners.
An overview of Indo-German relations –
- The two countries had together launched the ‘Make in India Mittelstand” (MIIM) program. A total of 73 German SME’s have currently already been set up through this program.
- The two leaders signed several MOU’s and trade agreements and highlighted skills development especially in the field of –
- Field of manufacturing
- Cyber security
- Sustainable urban development
- There are also more than 1600 German companies currently doing business in India and key exports include –
- Electro technology
- Machines pharmaceuticals
- Auto components
- The key imports are in the sectors of
- Medical technology
- Machine tools
- Measurement and control equipment.
During the meeting in Berlin, Chancellor Merkel emphasized India’s role as a reliable partner in many fields of common interest. She quoted “Germany will always find India a powerful, prepared and capable partner.”
Prime Minister Modi stated, “India and Germany are made for each other! A quantum jump in economic relations can be seen between India and Germany and an outcome oriented momentum can be seen building.”
Both leaders underlined their determination to ease bilateral trade and investment through continued meetings and consultations.