Sitharaman said, under this agreement, as per the Union Budget provisions of 2025-26 and 2026-27, EU banks will be able to open 15 branches in India in four years. He also highlighted the role of the European Central Bank in facilitating ease of doing business. The Finance Minister also met Vera Songwe, Head of the Liquidity and Sustainability Facility. The talks discussed the financial challenges of emerging economies and the state of capital markets amid the changing global environment. Sitharaman also met Prime Minister of Liechtenstein Brigitte Haas. During this, it was agreed to increase investment in India in areas related to manufacturing, environment-friendly technology, agricultural equipment and climate change.

Emphasis on increasing cooperation in technology

During her visit, Union Finance Minister Nirmala Sitharaman informed key international leaders about investment opportunities through the National Investment and Infrastructure Fund and the International Financial Services Center Authority. During this, he met Germany’s Vice-Chancellor and Finance Minister Lars Klingbel and discussed increasing cooperation in defence, trade and technology. Citing the success of India’s digital payment system, Sitharaman expressed her desire to share her experience.

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India-Germany relations will improve further: On the second day of the Munich conference, External Affairs Minister S Jaishankar also met Germany’s CDU, CSU parliamentary group leader Jens Schpan and appreciated his support in deepening India-Germany relations. In the meeting with Romanian Foreign Minister Oana-Silvia Toiu, the two sides reviewed the prospects for bilateral cooperation.