Piyush Goyal Highlights Opportunities for Collaboration in Agriculture, Defence, Aviation, and Renewable Energy

In his address, Shri Goyal emphasized that through collaborative efforts in agriculture and food processing, India and France could significantly contribute to global food security.

India and France have the potential to become global leaders in agricultural innovation, sustainable practices, and emerging technologies, according to Union Minister of Commerce and Industry, Shri Piyush Goyal, speaking at the Asia Pacific Commission (APAC) 2024 Forum in New Delhi. The event, organized by the French Foreign Trade Advisors, provided a platform for discussing growing bilateral ties and future opportunities between the two nations.

In his address, Shri Goyal emphasized that through collaborative efforts in agriculture and food processing, India and France could significantly contribute to global food security. He noted that employing sustainable agricultural practices is not only essential for addressing food security but also for mitigating the impact of climate change. Both countries, he said, can play a critical role in reducing environmental risks through shared innovation in sustainable farming techniques.

Renewable Energy and the International Solar Alliance

On renewable energy, Shri Goyal highlighted the substantial partnership between India and France through the International Solar Alliance (ISA), which has already garnered the membership of over 100 countries. Co-sponsored and spearheaded by both nations, the ISA is driving global efforts to scale up solar energy use, particularly in emerging and developing countries. The success of this initiative reflects India and France's commitment to expanding clean energy solutions worldwide and accelerating progress towards a carbon-neutral future.

Aerospace, Aviation, and Defence Cooperation

Turning to the aviation sector, Shri Goyal pointed out that India is now the world's largest aviation market with an existing fleet of 1,500 planes and a projected demand of up to 2,000 aircraft over the next few decades. The Indian government is also rapidly expanding its airport infrastructure, increasing the number of operational airports from 74 in 2014 to 125 today, with plans to add 75 more by 2029. Shri Goyal urged the French aviation sector to explore opportunities for manufacturing aircraft in India, capitalizing on the growing demand and India's strategic position as a global aviation hub.

In terms of defence collaboration, the Minister emphasized India's ongoing efforts to build a robust domestic defence industry. He noted that the government is encouraging foreign companies, including those from France, to set up manufacturing operations in India, offering 100% ownership in their companies. Shri Goyal also pointed out that India’s patent-protected regime provides an attractive environment for technological collaboration, without requiring technology transfer.

Automobiles, Electric Vehicles, and Digital Technologies

On automobiles and electric vehicles (EVs), Shri Goyal stressed the opportunity for India and France to co-innovate technologies that will revolutionize the sustainable mobility sector in India. With a large pool of first-time vehicle owners, India is well-positioned to introduce affordable EV options and promote sustainable transportation solutions across the country.

The Minister also highlighted the growing potential for collaboration in digital technologies, including cybersecurity, artificial intelligence (AI), e-commerce, and quantum technologies. He pointed to the India-France Year of Innovation 2026 as a key milestone for fostering technology-driven growth, with joint initiatives focusing on IT, healthcare, renewable energy, and smart cities.

Strengthening Bilateral Trade and Investment

In terms of economic collaboration, Shri Goyal emphasized that despite the robust $15 billion in bilateral trade during FY24, there is still significant untapped potential. Indian exports to France amounted to $7 billion, while imports were slightly higher at $8 billion. The Minister expressed hope that trade between the two nations would grow much faster, in alignment with the growing economic strength of both countries.

Shri Goyal also highlighted that France is the 11th largest foreign direct investor in India, with more than 750 French companies operating in the country. This includes approximately 70 Indian companies in France, contributing significantly to employment generation and skill development in both countries.

India-France Diplomatic and Strategic Ties

The year 2024 marks the 75th anniversary of diplomatic relations and the 25th year of strategic ties between India and France. Shri Goyal celebrated the longstanding partnership, noting the shared values of liberty, equality, and fraternity that both nations uphold. He also acknowledged the growing collaboration in diverse areas such as space exploration, defence, civil nuclear energy, and digitalisation. The adoption of the Horizon 2047 roadmap further consolidates their shared vision for the next 25 years, particularly in the Indo-Pacific region.

In his closing remarks, Shri Goyal invited French companies to participate in India’s ambitious infrastructure projects, which include the creation of industrial cities across 20 locations in the country. These projects aim to develop world-class connectivity and urban ecosystems, presenting numerous opportunities for French collaboration.

Earlier in the event, the Minister read out a special message from Prime Minister Narendra Modi, underscoring the strong ties between India and France based on trust, shared democratic values, and a forward-looking vision for the future.