Expanding Horizons: India-France Trade and Technological Collaboration

A New Chapter in Bilateral Trade

Trade between India and France has seen a modest increase, reaching around USD 20 billion. Historically, the trade volume was between USD 15-18 billion, primarily dominated by transactions in the defense and aerospace sectors. Coumar Ananda, President of the Chambers of Commerce and Industry France-India, highlighted that these sectors have typically driven this trade relationship.

Uncovering Potential in New Sectors

Ananda pointed out that while the presence of French companies in India is robust—with more than a thousand establishments, some with a century-long legacy—the number of Indian companies in France remains surprisingly low, numbering less than 100. He emphasized:

• Undervalued Presence: "There is much more potential for Indian companies in France."
• Broadening Opportunities: With the French market becoming increasingly accessible, this moment represents a unique opportunity for Indian investors, as the red carpet is now extended across France, beyond just the Paris region.

Strengthening Ties Through Innovation

Prime Minister Narendra Modi's upcoming visit to France marks his sixth official trip to the country. During his stay from February 10 to February 12, he is set to co-chair the AI Summit with President Emmanuel Macron. The summit will also see discussions on ensuring artificial intelligence is developed, deployed, and used in a safe, humane, responsible, and trustworthy manner—a vision echoed by Foreign Secretary Vikram Misri.

In addition, Modi will address the India-France CEOs Forum, further underscoring the growing economic and technological collaboration between the two nations.

Conclusion: A Forward-Looking Partnership

This evolving relationship between India and France is not just about increasing trade figures but also about tapping into broader areas of economic cooperation. With the groundwork laid in sectors like defense and aerospace, the future holds significant promise for wider industrial and technological partnerships, making this an important juncture in bilateral relations.