France has invested in India for long, but perhaps it’s time for India to up its investments in France, Roland Lescure, Minister of Economy, Finance and Industrial, Energy and Digital Sovereignty of France, has said.
As such, he was hopeful that the trade between the two countries will get a boost with the two countries engaged in strengthening their ties. The recently concluded EU-India trade deal should also help.
“We already have a relationship. I don’t think we export enough here, don’t think India exports enough in France. We have invested here for a long time. I think India should invest more in France,” Lescure said in an interaction.
The minister was part of a French delegation led by President Emmanuel Macron, other senior government officials and businessmen visiting India.
Prime Minister Narendra Modi and Macron on Tuesday held bilateral discussions in Mumbai and unveiled several pacts across various sectors including defence, technology, trade, health and skilling.
“Friends are not so friendly anymore, so we need to make sure that our two friends work together hand in hand,” stressed Lescure. Over the last year, the US administration has levied what it terms reciprocal tariffs on imports from countries around the world, including Europe, upending old ties and leading to a sort of a tariff war.
The French minister applauded the trade deal that India and the European Union have concluded recently, terming it as a win-win for the two regions at a time the world continued to face geopolitical uncertainties.
“Lowering tariffs at a time when others want to raise them is a great idea. I think it’s a win-win for India and the EU and France is bound to benefit a lot from that,” Lescure stated.
Modi and Macron on Tuesday inaugurated the final assembly line for the Airbus H125 Helicopter, which will be made by Tata Advanced Systems in Karnataka.
Separately, Bharat Electronics and Safran have also agreed to establish a joint venture to locally produce Hammer precision guided missiles.
The two countries have launched the India–France Year of Innovation, focused on strengthening ties and collaboration among startups, small enterprises, academia and industry.
“President Macron is strengthening the strategic partnership that already exists and putting it up to the next level. There is a political willingness that is also driven by people to actually increase this relationship,” said Eleonore Caroit, Minister delegate to the Minister for Europe and foreign affairs, responsible for Francophonie, international partnerships and French citizens abroad.
