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France accelerates trade ties with India

French Minister for Foreign Trade Franck Riester met Indian counterpart Union Minister of Commerce and Industry Piyush Goyal on Thursday to review ways of boosting trade and investment ties between France and India.

They also discussed cooperation on reforming world trade & reshaping supply chains post-pandemic.

“Ministers @franckriester & @PiyushGoyal today met in Delhi to review ways of boosting France and India’s trade and investment relations. They also discussed cooperation on reforming world trade & reshaping supply chains post pandemic,” French Ambassador to India Emmanuel Lenain tweeted.

“With my Indian counterpart Shri @PiyushGoyal in Delhi to take our bilateral relationship further, continue trade negotiations, and exchange views on the ongoing #WTO negotiations on fisheries and vaccines,” Riester said on Twitter.

The meeting laid emphasis on ways of fostering greater ease of doing business between the two countries, and coordination in multilateral fora on economic issues.

The visiting French Minister also met Indian industry leaders & heard their views on how France can welcome more Indian companies. He highlighted France’s pro-business reforms, top European FDI destination status & its advantages as a gateway to the French market.

According to a statement issued earlier by the French Embassy in India, the purpose of Riester’s two-day trip, covering Delhi and Bengaluru, is to consolidate the robust bilateral economic ties with India to meet the current challenges of the global economy. Given France and India’s common goal to boost their strategic autonomy, this visit seeks to enhance Indo-French cooperation in key industrial sectors.

Riester will also reaffirm France’s commitment to the Indo-Pacific, and further the positive French and European economic agenda for prosperity in the region, the statement added.

As part of his visit, Riester will also meet Indian investors to highlight the advantages extended to foreign investors under the country’s massive recovery plan of Euro 100 billion, “France 2030” investment plan in key industrial sectors, post-Brexit relocation opportunities, as well as showcase France as a perfect gateway to expansive European markets.

Minister Riester will also hold discussions with the representatives of French companies and the French network in India that assists French companies in their Indian projects, said the release.

During his trip, the minister will be visiting French business success stories in India in tech and smart solutions. In Delhi-NCR, he will visit the Noida Headquarters, R&D, and Design facility of French company IDEMIA, a global leader in smart solutions for identity security services, added the release.

In Bengaluru, he will visit Dassault Systemes, a 3DEXPERIENCE company that provides businesses and people with collaborative 3D virtual environments to imagine sustainable innovations.

He will also visit the Indian company CENTUM Electronics, which has offices in France, providing precision microelectronics that are critical for applications in many sectors, including aerospace and defence.

Minister Riester will conclude his visit with meeting representatives from French and Indian tech ecosystems, brought together by the French Tech in Bangalore, which creates global connections for innovation.