Speaking to the media after wrapping up a two-day visit, the minister highlighted key bilateral meetings with top executives from major German firms, including Siemens Healthcare, Bertelsmann Investment, Volkswagen, and Skoda.
“The CEOs echoed one message – German companies no longer see India only as a market, but as their partner, as a base for manufacturing, for research and development, for innovation,” Goyal remarked.
He emphasized that pairing German precision and research with India’s technical skills and talent for innovation will alter global perceptions of India. Currently, around 2,000 German companies operate in the country. Goyal’s visit focused on expanding these bilateral trade and investment ties.
The minister noted that the partnership extends far beyond trading goods and services—it paves the way for talent exchange, innovation, co-creation, co-designing, co-development, and co-manufacturing.
“The focus of this visit has been to translate this partnership to greater levels of investment, industrial cooperation, and research and development,” Goyal noted. He added that the long-term success of the upcoming India-EU free trade agreement (FTA) will be evaluated by new orders, fresh investments, and technology partnerships.
The India-EU trade pact, for which negotiations concluded in January, is expected to be signed by the end of this year and implemented next year.Goyal explained that German industry faces an imperative to reduce costs and boost competitiveness globally, leading them to look toward Indian manufacturing. “As regards their innovation and their design work, almost every company tells me about existing centers, GCCs, in a big way in India, where they employ lakhs of talented young boys and girls,” he said.
With over 2,100 Global Capability Centres (GCCs) currently operating in India—employing millions in setups ranging from a few hundred to several lakh employees—many German firms plan to double or triple their workforce within two to five years.
“That is the level of excitement about working in India… Gradually, this is obviously going to result in co-creation and co-innovation also. But I would like to go step by step. And I’d like to invite the German Institutes of Research and to come there and start working and take the next step forward for developing this partnership,” Goyal said.
India-EU FTA & CBAM debate
Regarding climate issues, Goyal said the European Union acknowledges India’s efforts to combat climate change, noting that India exceeded its Paris Agreement commitments ahead of schedule. European nations are eager to partner with India in green hydrogen, financial support, and clean energy initiatives.
Addressing his previous comments on the EU’s Carbon Border Adjustment Mechanism (CBAM) delivered at the Berlin Global Dialogue, Goyal affirmed that his statements were entirely factual, though noting that Europe remains ahead on environmental policy and continues to collaborate closely with India.
Earlier, the minister warned that the EU is inviting “disaster” by imposing CBAM. “Who’s responsible for this (climate change) mess in the first place? Where did this ozone layer get damaged? Who sent all that carbon up there?” he asked.
When a fellow panelist replied “All of us,” Goyal countered: “No, I’m sorry”. He pointed out that while India accounts for 17% of the global population, its share of global carbon emissions remains under 3%.
Citing the 2015 Paris Agreement, Goyal stated: “It was agreed that the developed countries, who have enjoyed the fruits of messing up the climate for so many decades, will pay a greater price and will support the developing and less developed countries. Eleven years later, we haven’t seen a nickel or a dime of that. It’s all promises”.
He directly attributed the root cause of the issue to European industrial history: “For good reasons… you were growing, you wanted low cost of energy. You blew coal day in and day out so that your energy cost remains low,” he said, adding that India currently runs one of the world’s fastest-expanding clean energy initiatives.
Global trade fairs strategy
On plans for the Commerce Ministry to coordinate with Indian diplomatic missions abroad regarding international trade exhibitions, Goyal said he would collaborate with External Affairs Minister S. Jaishankar to “reach out to all the missions so that we can create a buzz globally of the India story, the India strength”.
India plans to deepen its participation in major tech and startup forums globally, including sending a sizable delegation to Finland’s Slush event and setting up a dedicated Indian pavilion at a key French startup event. He also referenced India’s significant presence at Bharat Innovates 2026 in France and VivaTech.