A huge delta of Opportunities in India: Piyush Goyal to French Businessmen
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Paris, Apr 12: Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles Shri Piyush Goyal mentioned that there is a huge delta of opportunities in India during his address at the India – France Business Summit and CEOs Roundtable yesterday in Paris, France. “We are one the largest consumers of goods and services.
Exports of goods and services are growing by over 50% and we hope to continue this growth trajectory. We hope to see our exports of goods and services triple from $765 billion to $2 trillion by 2030,” he added.
The Embassy of India, Paris, France, in association with the Confederation of Indian Industry (CII), the Mouvement des Entreprises de France(MEDEF), and the Indo-French Chamber of Commerce and Industry(IFCCI), organized the India – France Business Summit and CEOs Roundtable. Minister Delegate for Foreign Trade, Economic Attractiveness, and French Nationals Abroad, Government of France, Olivier Becht shared that he is confident that both sides will foster bilateral & multilateral meetings. “India being the world’s most populous country has the potential to attract numerous manufacturing activities, already, many French companies are actively engaged in India, and there is tremendous untapped potential for further collaboration”, he said. Vice-President, CII, and Chairman & Managing Director, ITC Limited, Sanjiv Puri shared that the presence of a large delegation from the CII in France underscores the significant importance that India attaches to its relationship with France. DG CII, Chandrajit Banerjee highlighted that India and France are committed to collaborative engagement in areas like innovation, financial inclusion, ESG in businesses, and deepening global engagement towards Africa. Sessions were held on ‘Building a green future’; Critical and Emerging Technologies: The New Strategic Frontier; ‘Defence Cooperation: Securing a Shared Future Through Atmanirbhar Bharat’ and France and India: Springboard to Europe and Indo-Pacific. Both India and France attach the highest importance to building a green future. Both countries have ambitious climate goals. Building a green future creates enormous market opportunities, but it also requires huge investments and technological breakthroughs. In recent years, there has been a significant increase in investments, collaborations, and joint ventures, especially from France to India, in “green technologies”. The Session brought out ways on how businesses could tap opportunities in green transition; discussed new technologies in various areas – renewable energy, mobility, buildings, infrastructure, construction, energy efficiency, industrial processes, and agriculture. The Session was moderated by the Head of AFD Activities in Eastern Europe – Middle East and Asia, Cyrille Bellier.
Collaboration and competition are growing around critical and emerging technologies, including advanced computing, communications and networking technology, advanced materials, engine technology, space technologies and systems, sensors, renewable energy technology, semiconductors and microelectronics, directed energy, hypersonics, etc. As two countries with a strong belief in sovereignty and strategic autonomy, the Session highlighted ways in which India and France can enhance their cooperation in critical and emerging technologies; complementarities between the two countries and opportunities therein; recommendations on increasing India-France Technology Cooperation. The Session was moderated by the Ambassador for Digital Affairs, Ministry for Europe and Foreign Affairs, Henri Verdier.