India’s exports of goods and services to Germany could exceed $50 billion by 2030, supported by greater use of the proposed India–European Union Free Trade Agreement (FTA) and closer economic cooperation, according to a report by the Associated Chambers of Commerce and Industry of India (ASSOCHAM).
The report was released by Union Commerce and Industry Minister Piyush Goyal in Berlin during his visit to Germany. It highlights opportunities to expand market access, investment and business partnerships between the two countries, according to media reports.
ASSOCHAM Chief Economist S. P. Sharma said exports could potentially reach $60 billion by 2030 with greater utilisation of the India–EU agreement. The figures are projections, and their achievement would depend on factors including implementation of the agreement and businesses’ ability to take advantage of new opportunities.
Trade agreement and export opportunities
The ASSOCHAM report identifies the India–EU FTA as a potential source of momentum for trade with Germany. According to the industry body, zero-duty access for a significant share of Indian exports to the EU could benefit sectors including textiles and apparel, leather and footwear, gems and jewellery, marine products, engineering goods, pharmaceuticals and electronics.
India and the EU concluded negotiations on the agreement on 27 January 2026. The agreement has yet to enter into force and remains subject to the required legal procedures. In September, the European Commission submitted proposals to the Council of the EU for its signature and conclusion.
Speaking in Germany on 22 October, Minister Goyal said he expected the agreement to be signed before the end of 2026 and suggested it could become operational within four to five months. That timeline remains an expectation, subject to the completion of the necessary procedures.
Industrial and green technology cooperation
The ASSOCHAM report also points to opportunities for India and Germany to deepen cooperation in advanced manufacturing, semiconductors, digital technology, critical minerals and defence.
ASSOCHAM President Nirmal K. Minda said stronger industrial ties could benefit businesses in both countries, including micro, small and medium enterprises. The report also called for more business-to-business engagement, sectoral interactions and buyer–seller meetings to help translate opportunities into commercial partnerships.
Green growth was identified as another area of potential collaboration. ASSOCHAM Secretary General Saurabh Sanyal highlighted renewable energy, green hydrogen, electric mobility and battery storage as fields in which the two countries could pursue investment and technology exchange.
Business engagement in Berlin
The report’s release came during Minister Goyal’s visit to Germany and the Netherlands, where he was accompanied by a delegation of around 100 Indian businesses and startups.
In Berlin, Minister Goyal met German Federal Minister for Economic Affairs and Energy Katherina Reiche to discuss industrial cooperation and the potential of the India–EU FTA. The two ministers also co-chaired an India–Germany Business Roundtable focused on turning prospective opportunities under the agreement into trade and investment partnerships, according to India’s Ministry of Commerce and Industry.
