India-France trade rose to Rs. 1,75,800 crore (US$ 20 billion): President of the Chambers of Commerce and Industry France-India

Ahead of Prime Minister Mr. Narendra Modi visited France, the President of the Chambers of Commerce and Industry France-India, Mr. Coumar Ananda, stated that trade between India and France remained below Rs.  (US$ 20 billion), an increase from the previous range of Rs. 1,31,850 - 1,58,220 crore (US$ 15-18 billion), with most transactions focused on defense and aerospace industries. He noted that while French companies have a strong presence in India, with over a thousand companies operating there, there are fewer than 100 Indian companies in France. He emphasized the significant untapped potential for Indian businesses in France, as the country has extended an open invitation for Indian investors, with opportunities not just in Paris but across the nation. 

He also highlighted the importance of Prime Minister Mr. Narendra Modi's upcoming visit, marking a significant milestone for India and France, especially with India co-chairing the Artificial Intelligence (AI) Action Summit in Paris. The summit will focus on five key themes: global governance on AI, AI for public interest and the common good, the impact of AI on culture and the creative industry, workforce and human resources, and security concerns related to cybersecurity and AI-related threats. Ananda noted that AI has become a critical geopolitical topic, and both India and France will play key roles in shaping global discussions on the future of AI. Prime Minister Mr. Narendra Modi's visit, scheduled from February 10 to February 12, 2025, will also address the India-France Chief Executive Officers (CEOs) Forum. Foreign Secretary Mr. Vikram Misri emphasized India's expectation that AI applications should be developed, deployed, and used safely, humanely, responsibly, and trustworthy. 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.