New Delhi, Oct 23:India’s exports of goods and services to Germany could cross USD 50 billion by 2030, supported by the India–European Union Free Trade Agreement (FTA) and stronger trade and investment ties between the two countries, 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. It highlighted opportunities for India and Germany to expand trade, increase investments and strengthen cooperation across key industries.

ASSOCHAM said the India–EU FTA could give Indian exporters better access to European markets by removing duties on a significant share of Indian exports. Sectors such as textiles, apparel, leather, footwear, gems and jewellery, marine products, engineering goods, pharmaceuticals and electronics are expected to benefit.

The report also identified opportunities for cooperation in advanced manufacturing, semiconductors, digital technology, critical minerals and defence. Germany’s industrial expertise and technological capabilities could complement India’s growing manufacturing and services sectors, creating opportunities for businesses in both countries.

ASSOCHAM President Nirmal K. Minda said stronger industrial cooperation could benefit businesses, particularly micro, small and medium enterprises (MSMEs), by creating new opportunities for trade and partnerships.

ASSOCHAM Secretary General Saurabh Sanyal highlighted opportunities in renewable energy, green hydrogen, electric mobility and battery storage. Cooperation in these areas could encourage investment, promote technology sharing and support sustainable industrial growth.

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ASSOCHAM Chief Economist S. P. Sharma said India could increase its exports to Germany by making better use of the India–EU FTA. He added that exports could reach USD 60 billion, or around EUR 54 billion, by 2030.

Goyal is visiting Germany and the Netherlands from October 22 to 27, leading a delegation of around 100 Indian businesses and startups. During the visit, he held discussions with German officials and business leaders on expanding bilateral trade, attracting investments and increasing cooperation in technology and industry. (with ANI inputs)