Roundtable examines maximum potential for India-France partnership
Indian companies are reviewing their European strategy in the context of the post-Brexit EU. France could be the next big destination for Indian investments, according to presentations at a CEO Roundtable held 11 April 2023 in Paris.
The roles of France being a springboard to Europe and India to Indo-Pacific markets was also discussed at the ‘India – France Business Summit and CEOs Roundtable’.
Since generating a part of the value in the market is important for success, the Session shed light on how can Indian companies invest more in France to cater to India’s largest destination for exports, the EU.
Also discussed was how the Indian investors and industries can accessed the European markets.
While India is among the leading Asian sources of investments in France, the value of investments is small and concentrated in a few sectors.
In the past three years, France has been ranked the most attractive investment destination in the EU, which is also reflected in the rising foreign investment figures.
The roundtable also heard of Defence Cooperation between the two countries.
The evolving geopolitics, including the growing challenges in the Indo Pacific region, and emergence of contests in new domains such as Space and cyberspace, have further increased the salience of this partnership.
France has been a longstanding and an increasingly important source of defence platforms, equipment and technology for India.
The session on defence brought out how “we go beyond assembly and also develop and design defence technologies; specific defence platforms and equipment where we see maximum potential for India-France partnership”.
Other highlights of the roundtable:
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 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, agriculture.
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.
Noting the two countries’ strong belief in sovereignty and strategic autonomy, the Session highlighted ways on how India and France can enhance their cooperation in critical and emerging technologies; complementarities between the two countries and opportunities therein. Also heard at the session were recommendations on increasing India-France Technology Cooperation.
India and France are committed to collaborative engagement in areas like innovation, financial inclusion, ESG in businesses, and deepening global engagement towards Africa, according to DG CII, Chandrajit Banerjee.
“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,” elaborated Minister Delegate for Foreign Trade and Economic Attractiveness Olivier Becht.
The Embassy of India, Paris, 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), organised the Roundtable.
More than 50 CEOs from Indian and French companies participated at the CEOs Roundtable. fiinews.com
