New Delhi, February 15 – Finance Minister Nirmala Sitharaman met with top leaders and industrialists during her visit to Germany and discussed bilateral trade relations in the context of the EU-India FTA agreement, while also strengthening partnerships in several fields, including manufacturing, technology, and agriculture, the Finance Ministry said on Sunday.
FM Sitharaman met with Lars Klingbeil, Vice Chancellor and Federal Minister of Finance, Germany, and discussed the meeting between Prime Minister Narendra Modi and Federal Chancellor Friedrich Merz in India in January this year, which strengthened bilateral relations, particularly in defense, trade, and technology.
Merz paid an official visit to India from January 12-13. The Chancellor was accompanied by a high-level delegation, including 23 leading German CEOs and industry leaders.
In her meeting with Sitharaman, Klingbeil called the Free Trade Agreement (FTA) a major step for trade and investment in India, and particularly focused on bilateral development cooperation and also the expansion of the Metro rail in India, according to a post on X by the Finance Ministry.
She also briefed Klingbeil about the success of India's digital payment systems and India's willingness to share best practices on its digital infrastructure with Germany.
Sitharaman also met with Brigitte Haas, Prime Minister of Liechtenstein, and Alois Philipp Maria, Hereditary Prince Alois of Liechtenstein, in Munich.
Both leaders discussed the ongoing investments by Liechtenstein-based companies in India, and further strengthening partnerships in the fields of manufacturing, environmentally friendly technology, agricultural equipment, and climate change, according to the X post.
In her meeting with Christine Lagarde, President of the European Central Bank, they noted the finalization of the India-European Union Free Trade Agreement in January 2026, and the Finance Minister underlined the financial role the European Central Bank can play in facilitating trade under the agreement.
Sitharaman also mentioned that through the Union Budget for FY2025-26 and FY 2026-27, India will allow EU banks to open up to 15 branches over four years under the India-EU FTA framework.
Earlier, she met with Oliver Zipse, Chairman of the Board of Management BMW AG. They discussed opening up the Indian economy in light of recent reforms, with a focus on policy continuity and stability.
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