Union Commerce and Industry Minister Piyush Goyal has called upon French and Asia-Pacific partners to deepen collaboration, particularly in three areas.
These are enhancing trade relations through bilateral agreements and multilateral platforms, strengthening technological cooperation to address global challenges like climate change, and promoting cultural and educational exchanges.
Speaking at the Annual Conference of French Foreign Trade Commissioners for the Asia Pacific region in New Delhi, Mr. Goyal highlighted that bilateral trade between India and France reached 15 billion dollars in the financial year 2024.
The Minister added that both countries are exploring cooperation across various sectors, including agriculture and food processing, renewable energy, aerospace and defense, automobiles and electric vehicles, and digital technology.
Mr. Goyal noted that India the country is poised to emerge as a global leader as it pursues the Viksit Bharat 2047 vision. He emphasized that initiatives like Make in India, Digital India, and Startup India continue to attract foreign investments and catalyze economic growth.
Mr. Goyal stated that India’s aviation market will be the world’s largest demand aggregator for airplanes over the next three decades and announced plans to add 75 new airports by 2029.
He expressed a desire for co-manufacturing fighter jets and fostering startups in cybersecurity, artificial intelligence, e-commerce, and quantum technologies.
During the event, the Minister also read out a message from Prime Minister Narendra Modi in which Mr. Modi emphasized that ties of commerce, investments, and technology constitute the key pillar of the India-France relationship.
Later, Mr. Goyal held discussions with the Minister Delegate for Foreign Trade and French Nationals Abroad, Sophie Primas.
During the meeting, the ministers noted the progress made so far with respect to the ongoing negotiations for the India-EU Free Trade Agreement, Investment Protection Agreement, and Agreement on Geographical Indications.
Mr. Goyal highlighted the need for stronger political directions for the early conclusion of the India-EU FTA.