India-France hold discussions on India-EU trade pact

Recently, Commerce Minister Piyush Goyal held bilateral meetings with various CEOs and French minister Olivier Becht

April 13, 2023

India is interested in purchasing 2,000 commercial aircraft within the next decade

Bilateral trade between India and France was US$ 15.1 billion in 2021-22

More than 50 Chief Executive Officers (CEOs) from Indian and French companies participated in a CEOs roundtable meeting in Paris

Foreign Direct Investment from France totalled US$ 10 billion

India and EU renew S&T agreement for 5 years

Trade ministers of India and France are in ongoing negotiations for a free trade agreement (FTA) between India and the European Union, according to the commerce ministry. 

The respective ministers talked about priority areas regarding the India-EU FTA negotiations, focusing on market access issues. Goyal also expressed India’s interest in purchasing 2,000 commercial aircraft within the next decade and highlighted the potential to produce commercial aircraft in India to meet both domestic and international demand.

Bilateral trade between India and France was US$ 15.1 billion in 2021-22, with FDI from France totalling US$ 10 billion, making France one of the top foreign investors in India. The French minister expressed French companies’ desire to invest in India, while Piyush Goyal, Minister of Industry and Commerce, emphasized the importance of breaking language barriers to further expand trade. He also invited the French minister to India, along with the French community, for the G20 Trade Ministers meeting in August 2023.

In addition, more than 50 CEOs from Indian and French companies participated in a CEOs roundtable meeting where sectors such as agriculture, tourism, defence, manufacturing, pharmaceuticals, textiles, and aerospace were represented. 

Source: Economic Times

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