The Hindu Business Line : France-India trade poised to double in 5 yrs: Envoy

The French Ambassador to India, Mr Jerome Bonnafont, on Wednesday said that bilateral trade between India and France is poised to double in the next five years across several areas, including aeronautics.

Speaking at the inaugural function of Schneider electric plant near Hyderabad, Mr Bonnafont said that the current $5-billion bilateral trade between the two countries, which is about $2.5 billion either side, is set to double by 2012.

France and India have excellent trade ties and there is immense scope to expand this association in the areas of aeronautics, where France has big presence, manufacturing, and other trade services.

Mr Bonnafont said “the French Government was supportive of India’s economic growth and various endeavours and this could only get better as we go along.”

“We are in favour of India playing a larger role in the global scenario and support a permanent membership for India in the UN Security Council and fuller role in G8,” he added.

France sees India of strategic importance and with its common traits of democratic values. This bonding has the potential to translate into growing mutual trade.

With nuclear energy playing a key role in France accounting for about 80 per cent of total power generated, the two countries see opportunities for collaborations in nuclear power, he said.

Earlier, the Andhra Pradesh Chief Minister, Dr Y.S. Rajasekhara Reddy, said some “forces” in India are trying to scuttle the 123 agreement with the US. The agreement has the potential to help the power-starved country with nuclear power.

“While China is going ahead entering into partnerships with other countries and strengthening their nuclear power generation capabilities, we are still debating on the 123 agreement which the Prime Minister, Dr Manmohan Singh, is keen to conclude. France can play a role in India’s nuclear power plans,” Dr Reddy felt.

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