New Delhi: Amid rising global oil prices linked to the West Asia conflict, Germany’s Ambassador to India, Philipp Ackermann, has stressed the need for countries to reduce dependence on fossil fuels and strengthen renewable energy cooperation.
Speaking to DD, Ambassador Ackermann said both India and Germany are vulnerable to global energy shocks and must invest in sustainable and reliable energy solutions.
He said the Green and Sustainable Development Partnership between the two countries provides the right framework to advance renewable energy initiatives.
NE Latest: Will oil prices cool down soon? US Treasury Secretary shares outlook
The German envoy said Germany is investing heavily in India, with nearly 2,000 German companies operating in the country and the number continuing to grow.
He also highlighted the strong presence of Indian companies in Germany, describing it as a healthy sign of expanding economic ties.
Referring to the geopolitical situation and disruptions linked to the Strait of Hormuz, He said rising energy prices are affecting countries worldwide.
He expressed hope that ongoing conflicts would end soon and stressed the importance of ensuring stable global trade and energy supplies.
The Ambassador said India and Germany share a long-standing partnership and are working closely in renewable energy and other sectors to further strengthen bilateral cooperation.
The bilateral trade relations are growing at a staggering rate, with a large number of German firms entering India.
NE Latest: India’s silicon valley set for leadership change as DK Shivakumar emerges CM face
India-Germany bilateral trade in goods and services surpassed USD 50 billion in 2024, amounting to over 25% of India’s trade with EU.
Both countries are making progress in cooperation in critical and emerging technologies, including semiconductors, critical minerals, digitalisation, telecommunications, health, and the bioeconomy, which consolidates the Innovation and Technology Partnership Roadmap.
As per the figures from Destatis (Federal Statistical Office), Indo-German bilateral trade touched an all-time high of USD 33.40 billion (+0.36%) with exports from India at USD 15.09 billion (-2.20%) and imports to India from Germany at USD 18.31 billion (+2.58%) in calendar year 2024.
India was Germany’s 23rd largest trading partner in 2024. As per figures from Bundesbank, Indo-German trade in services in 2024 rose by 15% year-on-year, reaching a record USD 17.03 billion.
India’s services exports to Germany were approx. USD 10.31 billion and services imports from Germany were approx. USD 6.72 billion.
Germany was the 8th largest trading partner for India in 2024-25. It was India’s 12th largest trading partner in 2023-24 and 11th largest trading partner in 2022-23.
(With Prasar Bharati Inputs)
Ends.
Comments (0)
Be the first to comment!