India and France can increase partnerships in aerospace, electrical automobiles, agricultural and meals processing for mutual advantage of each nations, commerce & business minister Piyush Goyal stated Wednesday.
Talking on the Asia Pacific Fee (APAC) 2024 Discussion board organised by the French Overseas Commerce Advisors, Goyal stated adopting sustainable practices can mitigate antagonistic impacts of local weather change internationally.
Bilateral commerce between India and France reached USD 15 billion in 2023-24, with Indian exports at USD 7 billion and imports at USD 8 billion.
“France is the eleventh largest overseas direct investor for India and over 750 firms have their presence right here, with 70 Indian firms working in France,” Goyal stated.
On the present partnership between the 2 nations in renewable vitality, he stated the Worldwide Photo voltaic Alliance (ISA) has been successful. “Over 100 nations have taken membership of this alliance co-sponsored and spearheaded by India and France,” he stated.
On aerospace sector, Goyal stated India goes to be the world’s largest aviation market with 1,500 planes ordered with functionality of taking the order as much as 2,000. “I urge the French aviation sector to discover alternatives for establishing manufacturing amenities right here,” he stated.
Goyal additionally stated India and France have the potential to co-innovate applied sciences on vehicles and electrical automobiles (EVs). In line with him, India has a big pool of first-time automobile homeowners and offering them with sustainable choices will probably be simpler.
On collaboration in digital know-how, Goyal recognized fostering startups in cybersecurity, AI, ecommerce and quantum applied sciences as areas the place collaborations are doable. Goyal additionally referred to as for a higher collaboration with France within the defence sector, highlighting India’s strong patent-protected regime, not insisting on know-how switch.
