Piyush Goyal Envisions India-Germany R&D and Manufacturing Push

Union Commerce and Industry Minister Piyush Goyal has called for deeper research and development (R&D) cooperation between India and Germany, highlighting the potential to combine German precision engineering with India's skilled talent and cost-effective manufacturing capabilities to serve global markets.

Addressing German industry representatives, Goyal said the trusted partnership between the two countries, supported by strong institutional, business and people-to-people ties, has entered a new chapter following the conclusion of the India-European Union Free Trade Agreement (India-EU FTA).

The Minister emphasised that enhanced research cooperation could create significant opportunities for both countries to co-develop, co-design, co-create and co-innovate technologies, while expanding manufacturing capabilities in India. He also highlighted the potential to serve India's large domestic market and leverage the country's expanding network of free trade agreements to reach international markets.

According to Goyal, India's existing and prospective trade agreements are expected to expand its access to global markets significantly. He said these agreements already cover approximately two-thirds of global markets, with the share projected to reach 75% of global GDP over the next year to year and a half.

Inviting German businesses to explore greater collaboration with India, Goyal outlined a vision of combining Germany's precision technology and engineering expertise with India's talent pool and affordable manufacturing costs. Such cooperation, he said, could create a globally competitive manufacturing ecosystem and open new avenues for innovation, investment and industrial growth.

The Minister's remarks underline India's ambition to strengthen its position as a global manufacturing and innovation hub while deepening strategic economic ties with Germany through research partnerships, technology development and cross-border industrial cooperation.