India, France Expand Mutual Collaboration Areas

02 Dec 2024 CW Team

India and France can grow partnerships in aerospace, electric vehicles, agriculture, and food processing, benefiting both nations, said Piyush Goyal. The two countries' bilateral trade reached $15 billion in 2023-24, highlighting their strong economic ties. Goyal noted that France is India’s 11th largest foreign investor, with over 750 French companies present in India, and 70 Indian companies operating in France.

The countries have successfully collaborated in renewable energy, particularly through the International Solar Alliance (ISA), co-sponsored by India and France. Goyal also emphasized India’s position as the world’s largest aviation market, encouraging French aviation companies to explore manufacturing opportunities in India, where demand for aviation equipment is poised to soar.

Goyal outlined further potential for co-innovation in electric vehicles (EVs) and digital technologies such as AI, cybersecurity, e-commerce, and quantum technologies. He also advocated for deeper cooperation in defense, capitalizing on India’s robust intellectual property regime. This growing partnership aligns with both nations’ sustainable development goals and addresses pressing global challenges like climate change.

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