Germany expresses hopefulness of trade with India, EU
Merz emphasized that an EU-India agreement is crucial to unlocking the full potential of bilateral trade, which currently totals $50 billion. “We must not and do not want to leave this opportunity unused,” he stated following talks with Indian Prime Minister Narendra Modi in Ahmedabad.
The German chancellor highlighted the recent EU-Mercosur trade deal, reached after more than 25 years of negotiations, as a positive precedent for concluding the long-standing EU-India talks, which have been ongoing for 18 years.
During his visit, Merz and Modi signed several agreements to enhance cooperation in defense, skill development, health, and education, as both countries aim to reduce reliance on China while strengthening economic ties.
India, which signed three free trade agreements last year, is also negotiating with multiple countries and blocs to diversify its trade portfolio. This move follows the US imposing a 50% tariff on Indian imports, partly as a punitive measure for New Delhi’s purchase of Russian oil. Trade discussions between India and the US are scheduled to resume imminently, according to the US ambassador-designate.
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