Key facts
- India's Commerce Minister Piyush Goyal urged French companies to invest in India's manufacturing sector.
- The appeal was made at the 'Bharat Innovates' event in Nice, France.
- Discussions between Goyal and Nice Mayor Eric Ciotti focused on deepening trade and technology ties.
- Nice will host Bharat Innovates 2026, showcasing Indian startups.
- India and France aim to boost bilateral trade and advance in AI, space, and strategic areas.
- India and France announced 13 key outcomes across innovation, AI, trade, education, space, and strategic cooperation.
- A mechanism will be established to double bilateral trade between India and France in five years.
- An Economic Security Dialogue and a railway cooperation declaration were announced.
India is actively seeking to deepen its trade and technology ties with France, with a particular focus on attracting French investment into its manufacturing sector. During the 'Bharat Innovates' event in Nice, India's Commerce and Industry Minister Piyush Goyal extended an invitation to French companies to "design in India, innovate in India and manufacture in India," emphasizing the country's substantial talent pool and production capacity.
Discussions between Goyal and Nice's Mayor Eric Ciotti highlighted new avenues for cooperation, with Nice set to host Bharat Innovates 2026. This event will showcase India's deep-tech capabilities, featuring numerous startups and institutes of excellence, and is expected to attract significant global investor participation. Both nations are committed to fostering co-innovation and developing global solutions.
During Prime Minister Narendra Modi's visit to France, India and France unveiled 13 key outcomes across critical areas including innovation, Artificial Intelligence (AI), trade, education, space, and strategic cooperation. To further bolster economic ties, a high-level mechanism will be established to double bilateral trade within five years, building on the existing Economic and Financial Dialogue. Additionally, an Economic Security Dialogue was instituted, and a Declaration of Intent on Cooperation on Railway and High-speed Railway Development in India was announced.
France is currently the 11th-largest foreign investor in India, with bilateral trade reaching $15.81 billion in the fiscal year 2025-26. India's burgeoning startup ecosystem, comprising approximately 230,000 ventures, underscores its commitment to becoming a global innovation hub.