New Delhi, June 15: Prime Minister Narendra Modi and French President Emmanuel Macron have agreed to establish a high-level system aimed at doubling trade between India and France within five years.
During their meeting, they shared ideas to enhance and diversify mutual relations in economic development, technology, and talent mobility.
A joint statement released after their discussions in Nice emphasized the need for the swift implementation of the India-EU Free Trade Agreement, which presents a significant opportunity to boost mutual trade and investment. The leaders also discussed ways to enhance cooperation in sectors such as SMEs, aviation, and railways. They welcomed the agreement to establish a Center of Excellence for aeronautics skilling in Kanpur. Both leaders agreed to initiate a dialogue on economic security, focusing on strengthening supply chains, particularly for essential minerals.
The statement further noted that they discussed ways to increase collaboration with the private sector in space, highlighting that India’s ‘Peace Act’ opens new avenues for cooperation, including small and advanced modular reactors.
Recognizing the critical role of innovation and technology in India-France relations, both parties adopted an ‘Innovation Roadmap 2030’ to guide their long-term partnership. Additionally, they agreed to form a joint India-France AI working group to enhance cooperation in artificial intelligence.
The joint inauguration of “India Innovates” in Nice and Prime Minister Modi’s upcoming participation in the ‘VivaTech’ event in Paris have further strengthened partnerships between India and France in deep tech, semiconductors, agri-tech, med-tech, renewable energy, defense, and space.
The statement also mentioned the ongoing expansion of UPI in France and the signing of 19 agreements between institutions connected to the innovation ecosystems of both countries. Prime Minister Modi and President Macron welcomed these achievements as steps to reinforce India-France cooperation.
Both leaders emphasized the importance of enhancing people-to-people ties. Prime Minister Modi thanked President Macron for the swift initiation of visa-free transit for Indian citizens at French airports. They also discussed ways to increase talent and student mobility between the two nations and mutual recognition of academic qualifications.
PM Modi invited French universities to establish campuses in India under the new education policy. The leaders agreed to enhance cooperation between museums and cultural institutions, including the National Maritime Heritage Complex in Lothal.
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