India, Germany sign key MoUs; trade crosses $50 billion

NEW DELHI — India and Germany on Monday signed several Memorandums of Understanding (MoUs) in the presence of Prime Minister Narendra Modi and German Chancellor Friedrich Merz, giving a fresh boost to their strategic partnership.

Addressing a joint press conference, Prime Minister Modi said that bilateral trade between the two countries has crossed the $50 billion mark, reaching its highest level so far.

“More than two thousand German companies have a long-standing presence in India. This reflects their unwavering faith in India and the immense opportunities here,” PM Modi stated.

Prime Minister Modi said that technology cooperation between the two nations has grown steadily over the years and is now visible on the ground through joint projects and investments.

“India and Germany share common priorities in renewable energy and climate action,” the Prime Minister mentioned.

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To strengthen cooperation in these areas, the two countries have decided to set up the India-Germany Centre of Excellence.

The centre will act as a platform for sharing knowledge, technology and innovation. Both sides are also working together on projects related to climate, energy, urban development and urban mobility.

“A new mega green hydrogen project involving companies from both countries would be a game changer for the future of energy,” PM Modi noted.

The Prime Minister also highlighted cooperation in supply chains, saying that India and Germany are jointly working to build secure and trusted systems.

The two leaders also agreed to deepen cooperation in sports and education. “Sports would help connect young people from both nations, while a new roadmap on higher education would strengthen academic ties,” PM Modi said.