India and France Forge Stronger Economic Ties

India could assist French businesses in becoming more competitive globally through collaborative manufacturing efforts, said Commerce Minister Piyush Goyal. Talks on a free trade agreement with the EU are progressing rapidly, aiming to enhance India-France trade, currently at USD 15 billion. Collaboration in AI and global capability centres is proposed.

Commerce and Industry Minister Piyush Goyal stated on Tuesday that India can aid French businesses in becoming more globally competitive through collaborative manufacturing initiatives. He emphasized the importance of strengthening bilateral economic relations with France to tap into global markets.

Goyal highlighted the need to enhance the current trade and investment levels between India and France, which he believes do not reflect their true potential. He reported that talks for a proposed free trade agreement between India and the EU are making swift progress, urging businesses to aggressively expand this relationship.

The Minister suggested setting up a working group on artificial intelligence to bolster collaboration in this field. He also advocated for dismantling regulatory roadblocks and easing business regulations within the EU to facilitate cross-border trade and investments, while proposing solutions to simplify compliance processes.

(With inputs from agencies.)