{
  "id": 16208307,
  "title": "India's exports to Germany could cross $50 billion by 2030: ASSOCHAM",
  "url": "https://urgent.news/2026/10/23/indias-exports-to-germany-could-cross-50-billion-by-2030-assocham",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-23T16:12:25.000Z",
  "source": {
    "name": "The Economic Times - Economy",
    "slug": "the-economic-times-economy",
    "url": "https://economictimes.indiatimes.com/news/economy/foreign-trade/indias-exports-to-germany-could-cross-50-billion-by-2030-assocham/articleshow/135150336.cms"
  },
  "original_language": "en",
  "account": "India's export potential to Germany could surpass $50 billion by 2030, according to a report by the Associated Chambers of Commerce and Industry of India (ASSOCHAM). The report, unveiled by Union Commerce and Industry Minister Piyush Goyal in Berlin, highlights the significance of the India-European Union Free Trade Agreement (FTA) and enhanced economic collaboration between the two nations in driving this growth.\n\nThe report emphasizes opportunities in expanding market access, investment, and business partnerships, leveraging each country's strengths in manufacturing, technology, and innovation. ASSOCHAM President Nirmal K. Minda asserts that stronger industrial cooperation could benefit businesses, especially micro, small, and medium enterprises (MSMEs).\n\nThe India-EU FTA is anticipated to inject fresh momentum into bilateral trade. Zero-duty access to a substantial portion of Indian exports to the European Union, particularly in textiles, apparel, leather, footwear, gems and jewellery, marine products, engineering goods, pharmaceuticals, and electronics, could yield substantial benefits. Additionally, sectors like advanced manufacturing, semiconductors, digital technology, critical minerals, and defence present promising avenues for cooperation, capitalizing on Germany's industrial prowess and India's burgeoning manufacturing and services sectors.\n\nGreen growth emerges as another promising area for collaboration, with opportunities linked to Germany's Green and Sustainable Development Partnership. Focus areas include renewable energy, green hydrogen, electric mobility, and battery storage, which could spur investment, technology exchange, and sustainable industrial development.\n\nAssuming the outlined measures are implemented, ASSOCHAM Secretary General Saurabh Sanyal estimates that India's exports to Germany could reach as high as USD 60 billion (EUR 54 billion) by 2030, exceeding the previously projected USD 50 billion figure. ASSOCHAM Chief Economist S.P. Sharma reiterates this potential, further underlining the substantial expansion of exports through the strategic use of the India-EU FTA.\n\nThe report underscores the significance of bolstering business-to-business engagement, sectoral interactions, and buyer-seller meetings to translate the burgeoning economic partnership into tangible commercial opportunities. Union Commerce and Industry Minister Piyush Goyal's forthcoming visit to Germany and the Netherlands from October 22 to 27, where he will lead a delegation of around 100 Indian businesses and startups, is expected to further stimulate trade, investment, and industrial cooperation discussions with German officials and business leaders. ASSOCHAM remains committed to facilitating industry engagement and knowledge-sharing to empower Indian businesses to explore opportunities in Germany and solidify the India-Germany economic partnership.",
  "summary": "ASSOCHAM said the potential for expanding market access, investment and business partnerships between India and Germany. It said the two countries could use their respective strengths in manufacturing, technology and innovation to deepen economic ties and create new growth opportunities.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Live Mint",
        "title": "India's edible oil imports to rise as demand grows, oilseed yields face risks",
        "url": "https://urgent.news/2026/10/22/indias-edible-oil-imports-to-rise-as-demand-grows-oilseed-yields-face",
        "published": "2026-10-22T13:11:23.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}