Speaking before a key meeting of the European Central Bank, expected to announce a programme of quantitative easing, and a general election in euro zone laggard Greece, Schaeuble said stability had returned to financial markets.
"In financial issues we have overcome the lack of confidence we have suffered in the last couple of years," he said in New Delhi, where he met Prime Minister Narendra Modi on Monday.
Asked about the impact of the Russia-Ukraine conflict, Schaeuble said: "We face a lot of problems with Russia, but the most problems are faced by Russia ... We are not interested in a failing Russia. We want a partnership."
Europe would "deliver its fair contribution" to global growth, Schaeuble also said, while calling on emerging economies like India to make a bigger contribution.
"In the global economy, the emerging countries need higher growth than the advanced countries," said Schaeuble, who spoke at an event hosted by Indian business group FICCI.
Modi visits Germany in April to open the annual Hanover trade fair, where India is this year's official partner country. German Chancellor Angela Merkel is also expected to visit India later this year.
(Reporting by Douglas Busvine; Editing by Malini Menon)
