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Commerce and Industry Minister Piyush Goyal and French Trade Minister Olivier Becht discussed priority areas related to the India-EU Free Trade Agreement (FTA) negotiations and investment opportunities in both countries in their bilateral meeting in Paris on Tuesday.
Goyal also addressed more than 50 CEOs from Indian and French companies who participated at the CEOs Roundtable the same day, according to a press statement issued by the Commerce & Industry Ministry on Wednesday.
The CEOs represented diverse sectors such as agriculture, tourism, defence, manufacturing, pharmaceuticals, textiles and aerospace.
“Becht further dwelt on direct investments of French companies in India and shared that there is mutual opportunity in infrastructure, renewable energy and mobility. He highlighted that France has supported public projects in Kochi, Nagpur and Ahmedabad,” the release said.
The French Minister pointed out that bilateral trade between India and France doubled in the last decade to $15.1 billion in 2021-22. France was also a top investor in India with FDI worth $10 billion. “There is a will from French companies to invest in India,” he said.
Indian companies, too, are increasing their investment in France which currently stands at around €300 million, he said.
Goyal pointed out that India was looking to buy 2,000 commercial aircraft in the next 10 years and there was a huge opportunity to make commercial aircraft in the country to meet domestic and International demand.
The two ministers also discussed priority areas related to India-EU FTA negotiations, including market access, the release said.
India and the EU are negotiating an ambitious FTA and hope to conclude it this year.
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