3 months ago
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Finance Minister Nirmala Sitharaman met Christine Lagarde, President of the European Central Bank (ECB), successful Munich, Germany, among respective different cardinal dignitaries, during her ongoing visit. Both leaders were pleased to enactment the finalisation of the India and the European Union Free Trade Agreement (FTA) successful January 2026.
The Union Finance Minister underlined the fiscal relation the ECB tin play successful facilitating commercialized nether the EU-India FTA deal. Ms. Sitharaman besides mentioned that done the Union Budgets 2025-26 and 2026-27, India volition let EU banks to unfastened up to 15 branches implicit 4 years nether the India-EU FTA framework.
In different engagement, Ms. Sitharaman met Vera Songwe, Chair and Founder of the Liquidity and Sustainability Facility. The discussions focused connected planetary superior markets and structural challenges for emerging economies, peculiarly with respect to fiscal abstraction successful the backdrop of an ever-shifting geopolitical environment. The Union Finance Minister besides met Brigitte Haas, Prime Minister of Liechtenstein, and Alois Philipp Maria, H.S.H. Hereditary Prince Alois of Liechtenstein.
The leaders discussed ongoing investments by Liechtenstein-based companies successful India and scaling up partnerships further successful the fields of manufacturing, environment-friendly technology, agriculture-related equipment, and clime change.Sitharaman apprised them of concern opportunities done the National Investment and Infrastructure Fund (NIIF), the International Financial Services Centres Authority (IFSCA) arsenic the fiscal gateway to India, and the broader prospects wrong India's manufacturing sector. Ms. Sitharaman besides met Lars Klingbeil, Vice Chancellor and Federal Minister of Finance of Germany.The 2 leaders discussed the January gathering betwixt Prime Minister Narendra Modi and Friedrich Merz successful India, which strengthened bilateral relations, peculiarly successful defence, trade, and technology.
Mr. Klingbeil described the Free Trade Agreement arsenic a large measurement for commercialized and investments successful India, with peculiar accent connected bilateral improvement practice and metro obstruction enlargement projects.The Finance Minister highlighted the occurrence of India's integer outgo systems and expressed India's willingness to stock champion practices connected its integer nationalist infrastructure and integer stack with Germany. In a abstracted meeting, Ms. Sitharaman met Eric Beisswenger, Bavarian Minister for European and International Affairs.
In airy of the German Chancellor's caller sojourn to India successful January 2026, some leaders noted the deepening bilateral concern betwixt the 2 nations.They discussed the precocious concluded India-EU FTA and explored avenues for clime concern done greenish and sustainable partnerships. The speech of champion practices successful recycling industries was besides discussed. The Finance Minister underlined India's absorption connected skilling and highlighted the Union Budget 2026-27 announcements, peculiarly successful the healthcare sector.
Ms. Sitharaman besides met Oliver Zipse, Chairman of the Board of Management, BMW AG. Discussions focused connected the opening up of India's system successful airy of caller reforms, with accent connected argumentation continuity and stability. The Finance Minister highlighted Prime Minister Narendra Modi's Viksit Bharat imaginativeness for 2047, supported by reforms successful GST, Customs, manufacturing, and Production-Linked Incentive (PLI) schemes successful the sunrise and automobile sectors, with peculiar absorption connected vigor efficiency, electrical vehicles, and artillery infrastructure.
During her sojourn to Munich, the Union Finance Minister participates successful the high-level Munich Security Conference Roundtable and cardinal sheet discussions. On the sidelines of the conference, she engages successful further bilateral meetings with ministers, counterparts from assorted countries, and heads of multilateral organisations.
