India France Trade

Recent Trends & developments

• In July 2026, India and France signed a technical agreement between the Defence Research and Development Organisation (DRDO) and France's Directorate General of Armaments (DGA) in New Delhi to strengthen bilateral cooperation in defence research and development. The agreement expands collaboration in aeronautics, unmanned systems, advanced materials, artificial intelligence, cyber security, space, propulsion, sensors, quantum technologies and underwater systems, further strengthening the India–France strategic partnership.
• In February 2026, India and France welcomed the progress of the Indo-Pacific Triangular Development Cooperation (IPTDC) initiative aimed at supporting climate- and Sustainable Development Goal (SDG)-focused projects in third countries across the Indo-Pacific. Both countries identified joint projects in digital startups, health and digital public infrastructure, reinforcing their commitment to sustainable development, regional resilience and innovation-led cooperation.
• In February 2026, India and France entered a new phase of defence cooperation by shifting from a traditional buyer–seller relationship to co-development, co-design and co-production of advanced defence platforms. Building on the Defence Industrial Roadmap, both countries strengthened collaboration in technology transfer, indigenous manufacturing, maintenance, repair and overhaul (MRO), and defence innovation, supporting India's Aatmanirbhar Bharat initiative and long-term industrial capabilities.
• The Third India–France AI Policy Roundtable was held at IISc Bengaluru on November 7, 2025, as a pre-summit engagement for India’s AI Impact Summit 2026, bringing together government, industry, startups, and academia from both countries. The dialogue focused on strengthening cooperation in AI infrastructure, research, industry partnerships, and responsible AI governance, highlighting India’s digital public infrastructure and France’s commitment to human-centric AI.
• Addressing the APAC 2024 Forum in New Delhi, Union Minister Mr. Piyush Goyal highlighted the vast potential of India–France collaboration across agriculture, renewable energy, aerospace, defence, mobility and emerging technologies, anchored in sustainable and innovation-led growth. He underlined strong bilateral trade of US$ 15 billion in FY24, growing investment ties and opportunities for co-innovation, noting that trust and shared values remain the foundation of the partnership. The Minister emphasised that the India–France Year of Innovation 2026 and the Horizon 2047 roadmap will further deepen strategic and economic cooperation.
• In December 2024, after a strong defence partnership, India and France are now focusing on expanding economic and trade relations. Ms. Sophie Primas, Minister Delegate for Foreign Trade and French Nationals Abroad, emphasized that in turbulent times, relying on "trusted" partners like India is crucial for joint cooperation, with French companies keen to expand in sectors such as aeronautics, transport, energy, and emerging technology.
• Union Minister of Commerce & Industry, Mr. Piyush Goyal, emphasized key sectors for collaboration between the two countries, including agriculture, renewable energy, aerospace and defence, electric vehicles, and digital technology. India’s expanding defence sector presents a significant opportunity for French companies, as the Indian government allows 100% ownership for manufacturers. He also invited the French aviation industry to explore India, which has become the world’s largest aviation market with over 1,500 planes on order.
• Ms. Sophie Primas, Minister Delegate for Foreign Trade and French Nationals Abroad, discussed the India-Middle East-Europe Economic Corridor (IMEEC), describing it as a project that will strengthen strategic supply chains and contribute to regional integration and stability.
• The Ministry of Tourism participated in International & French Travel Market (IFTM) Top Resa 2024 in Paris held from September 17 to 19, showcasing the "Incredible India Pavilion." This pavilion emphasized India’s rich culture, heritage, and yoga practices, aiming to attract more international tourists. The pavilion was inaugurated by the Ambassador of India to France, Jawed Ashraf, along with officials from the Ministry of Tourism and state tourism departments of Meghalaya and Jammu and Kashmir.
• Speaking at the 2024 Asia-Pacific Forum of the French Foreign Trade Advisors Union Minister of Commerce & Industry, Mr. Piyush Goyal, expressed optimism about strengthening the India-France partnership and emphasized the need for faster growth in bilateral trade between the two nations.
• In Madhya Pradesh, Chief Minister, Mr. Mohan Yadav, met with French Consul General Jean-Marc Sr-Charlet to discuss potential investments in trade, industry, and tourism. The meeting focused on promoting cultural exchanges, with plans to train tour guides in the French language to make the state more accessible to French tourists. Mr. Yadav also extended an invitation to French film producers and directors to consider shooting in Madhya Pradesh.
• The Union Cabinet, led by Prime Minister Mr. Narendra Modi, has approved a Memorandum of Understanding (MoU) between India’s Ministry of Electronics and Information Technology and France’s Ministry of Economy, Finance, and Industrial and Digital Sovereignty. This MoU aims to enhance cooperation and information exchange in digital technologies, promoting access to these technologies in both countries. It is expected to boost government-to-government (G2G) and business-to-business (B2B) collaboration, leading to increased employment opportunities in the IT sector.
• India and the EU restarted talks for a comprehensive free trade agreement earlier this year after a gap of nine years. The two sides concluded the first round of negotiations for Bilateral Trade and Investment Agreements (BTIA), including the Geographical Indicators (GI) on July 1, 2023.
• India and France have signed an MoU on January 25, 2022 with a scope for cooperation in health research. Council of Scientific and Industrial Research, CSIR, and Institute Pasteur, France will jointly research and focus on emerging and re-emerging infectious diseases and inherited disorders and enable the delivery of effective and affordable healthcare solutions not only for the people of India and France but for the global good.
• India-France Space Pact: India and France have agreed on setting up a bilateral strategic dialogue on space issues.
• As part of Prime Minister Mr. Narendra Modi’s historic state visit to France from July 13-14, 2023, strategic deliberations were held during the 11th India-France CEO Forum to encourage the utilization of investment opportunities in these sectors and foster greater manufacturing and ease of doing business.
• India and France will develop new generation military equipment as part of a long-term roadmap agreed upon during Prime Minister Mr. Narendra Modi’s visit to Paris, French Ambassador to India Mr. Emmanuel Lenain said.
• France and India are making remarkable strides in the field of nuclear energy, with a focus on the Jaitapur 6-EPR power plant project. This ambitious endeavour aims to provide reliable, affordable, and low-carbon energy through the construction of six cutting-edge European Pressurized Reactors (EPRs) in Jaitapur. In addition, both countries have joined forces to explore the potential of Small Modular Reactors (SMRs) and Advanced Modular Reactors (AMRs).
• India and France have agreed to use Unified Payments Interface (UPI) in France. In the coming days, it will begin from the Eiffel Tower, which means Indian tourists will now be able to pay in rupees.