Robert Habeck, the German Vice Chancellor, said that Germany is planning to strengthen its bilateral ties with India to boost investments.
India, for some time, has been propagating the idea of a multilateral world. According to New Delhi, a multilateral world will have an array of benefits where every country would be able to look after its interests without jeopardizing others. Germany is the latest to join the bandwagon. Although the European country cannot disassociate with China, it looks forward to rebuilding its bilateral ties with India.
In July this year, the German chancellor was on a 3-day visit to India for the Indo-German Business Forum. He met External Affairs Minister S. Jaishnkar and Commerce and industry minister Piyush Goyal.
Habek mentioned that he does not support “decoupling” from China; however, diversification was the top priority for Germany. According to the chancellor, Germany was looking forward to strengthening its bilateral ties with India, which would allow them to create a “common trade sphere.” According to Habek, enhancing trade and diplomatic ties with India would enable them to reduce dependency on one country.
As per Habek, depending on one market could put a country at risk, especially if economic and political issues are not aligned.
An article published on The Wire mentions the following:
“‘My understanding also from the talks ahead with the Indian partners is, that goes the same for India. So there is a mutual interest from the German side and the Indian side to strengthen our cooperation and bringing more companies together, bringing more investments, creating a common trade sphere also as an answer that we are not becoming too dependent on only one country and from the German side that is also China,’ he was quoted as saying by ET.”
In addition to enhancing ties with India, the German chancellor urged the urgent need to comply with the sanctions imposed on Russia due to the War on Ukraine.
“The Russian aggression on Ukraine is unprecedented. ..We answered with sanctions against it and also with military support for Ukraine. The sanction system means that we have not bent the trade of oil but there is a price cap on it. That means that you are allowed to buy crude oil and recognise that it’s okay. But making money out of it, bringing more money to Russia using this sanction system to benefit from it is not the idea of it,” he said.
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