India and France have significant opportunities to collaborate in expanding agriculture and food processing, contributing to global food security through sustainable practices, according to Union Minister of Commerce & Industry, Piyush Goyal. Speaking at the Asia Pacific Commission (APAC) 2024 Forum in New Delhi, he emphasized that such practices could also help mitigate climate change and its adverse global effects.
Goyal highlighted the immense potential for partnerships between the two countries in renewable energy, citing the success of the International Solar Alliance (ISA), co-sponsored by India and France. With over 100 member countries, the alliance has been instrumental in promoting clean and renewable energy, particularly to emerging and less-developed nations.
On the aerospace front, Goyal noted that India is the world’s largest aviation market, with 1,500 planes already ordered and potential to reach 2,000. He invited the French aviation sector to explore opportunities for setting up manufacturing facilities in India, especially as the country rapidly expands its airport network from 74 in 2014 to 125 today, with plans for 75 more by 2029.
The Minister also discussed India’s expanding defense sector, where the government is encouraging global companies to set up manufacturing operations with 100% ownership. He called for greater collaboration with France in defense and highlighted India’s strong patent protection regime, which does not require technology transfer.
Regarding automobiles and electric vehicles (EVs), Goyal pointed out the potential for India and France to co-develop sustainable mobility technologies, especially considering India’s large base of first-time vehicle owners. He also spoke about collaboration in digital technologies such as cybersecurity, AI, e-commerce, and quantum technologies, with the India-France Year of Innovation in 2026 being a key milestone for joint initiatives in IT, healthcare, renewable energy, and smart cities.
Shri Goyal emphasized that the strength of the India-France partnership lies in mutual trust. He noted that both nations, as trusted partners, are well-positioned to expand investments in manufacturing and services. With Global Capability Centres (GCCs) setting up operations in India, the two countries have the opportunity to co-innovate and foster academic partnerships.
On trade, Shri Goyal shared that bilateral trade between India and France for FY24 reached $15 billion, with Indian exports at $7 billion and imports at $8 billion. He acknowledged that while these figures are robust, they represent only a small part of the potential, and expressed optimism that trade between the nations will continue to grow.
He also highlighted that France is the 11th largest foreign direct investor in India, with over 750 French companies operating in the country, while 70 Indian companies are active in France, contributing to job creation and skill development.
Goyal marked the 75th anniversary of diplomatic relations and the 25th year of strategic ties between India and France, celebrating the shared values of liberty, equality, and fraternity. He pointed out the broad and evolving partnership that includes space exploration, defense, civil nuclear energy, and digitalization. The adoption of the Horizon 2047 roadmap further strengthens their shared vision for the next 25 years. Additionally, he invited French collaboration in India’s infrastructure development, including industrial cities across the country.
In his address, Goyal also conveyed a special message from Prime Minister Narendra Modi, reinforcing the strong, trust-based ties and shared vision for the future between India and France.
