Munich: Finance Minister Nirmala Sitharaman met European Central Bank (ECB) President Christine Lagarde and several other key dignitaries in Munich, Germany during her ongoing visit.Both leaders were happy to finalize the India and EU Free Trade Agreement (FTA) in January 2026. The Union Finance Minister underlined the financial role of the ECB in facilitating trade under the EU-India FTA deal.Sitharaman also mentioned that through the Union Budget 2025-26 and 2026-27, India will allow EU banks to open 15 branches over four years under the India-EU FTA framework.At another event, Sitharaman met Vera Songwe, Chairman and Founder of the Liquidity and Stability Facility. The discussion focused on global capital markets and structural challenges for emerging economies, particularly with regard to fiscal space against the backdrop of a constantly changing geopolitical environment.The Union Finance Minister also met Prime Minister of Liechtenstein Brigitte Haas and HSH Hereditary Prince Alois Philipp Maria of Liechtenstein. The leaders discussed ongoing investments by Liechtenstein-based companies in India and furthering partnerships in the areas of manufacturing, eco-friendly technology, agriculture-related equipment and climate change.Sitharaman apprised them of the investment opportunities through National Investment and Infrastructure Fund (NIIF), International Financial Services Center Authority (IFSCA) as India’s financial gateway and the vast potential within India’s manufacturing sector.Sitharaman also met German Vice Chancellor and Federal Finance Minister Lars Klingbeil.The two leaders discussed the meeting between Prime Minister Narendra Modi and Friedrich Merz in India in January, which strengthened bilateral ties, especially in defence, trade and technology.Klingbeil described the free trade agreement as a major step forward for trade and investment in India, with a special emphasis on bilateral development cooperation and metro rail expansion projects.The Finance Minister highlighted the success of India’s digital payment systems and expressed India’s desire to share best practices on its digital public infrastructure and digital stack with Germany.In a separate meeting, Sitharaman met Bavarian European and International Affairs Minister Eric Beiswanger. In the light of the recent visit of the German Chancellor to India in January 2026, the two leaders took note of the deepening bilateral partnership between the two countries.They discussed the recently concluded India-EU FTA and explored avenues of climate finance through green and sustainable partnerships. Exchange of best practices in recycling industries was also discussed. The Finance Minister underlined India’s focus on skills and highlighted the announcements in the Union Budget 2026-27, particularly in the healthcare sector.Sitharaman also met Oliver Zipse, Chairman of the Board of Management of BMW AG. The discussion focused on opening up India’s economy with emphasis on policy continuity and stability in the light of recent reforms.The Finance Minister highlighted Prime Minister Narendra Modi’s Grow India vision for 2047, supported by reforms in GST, customs, manufacturing and production-linked incentive (PLI) schemes in the sunrise and automobile sectors with a special focus on energy efficiency, electric vehicles and battery infrastructure.During her visit to Munich, the Union Finance Minister participates in the high-level Munich Security Conference roundtable and key panel discussions.On the sidelines of the conference, she attends further bilateral meetings with ministers, counterparts from different countries and heads of multilateral organizations.